Total Energy Services Inc. and Savanna Energy Services Corp. Announce Proposed Amalgamation of Savanna and 2043324 Alberta Ltd. - Seite 2

An information circular and proxy statement (the "Information Circular") and related documents are expected to be mailed to Savanna Shareholders on or about May 24, 2017 to Savanna Shareholders of record on May 19, 2017 and will be filed on SEDAR (under Savanna's profile) at www.sedar.com.

Subject to the terms of the Amalgamation Agreement, each Savanna Shareholder (other than Total Energy or any Savanna Shareholder who validly exercises dissent rights in relation to the Amalgamation) will, upon completion of the Amalgamation, receive 0.1300 of a common share of Total Energy (each whole share being a "Total Energy Share") and one redeemable preferred share of Total (each, a "Redeemable Preferred Share") for each Savanna Share. Redeemable Preferred Shares issued by Total Energy will be automatically redeemed immediately following the completion of the Amalgamation for $0.20 in cash per Redeemable Preferred Share (collectively, with 0.1300 of a Total Energy Share, the "Amalgamation Consideration"). The Amalgamation Consideration is the same as the consideration that was available to Savanna Shareholders under the Offer.

On May 12, 2017, the board of directors of Savanna (the "Savanna Board") appointed a special committee (the "Savanna Special Committee") comprised of two (2) independent (within the meaning of applicable securities laws) and experienced directors to assist the Savanna Board in its review of the proposed Amalgamation. The Savanna Special Committee determined to recommend to the Savanna Board the approval of the Amalgamation and the execution and delivery of the Amalgamation Agreement and recommend that Savanna Shareholders vote in favour of the Amalgamation Resolution. The Savanna Board determined to accept those recommendations and subsequently resolved to approve the Amalgamation and the execution and delivery of the Amalgamation Agreement and to recommend that Savanna Shareholders vote in favour of the Amalgamation Resolution.

As Total Energy intends to vote the Savanna Shares held by it in favour of the Amalgamation Resolution, and, under applicable securities laws, all such votes, other than votes attributed to the Market Purchase Savanna Shares are entitled to be counted in respect of the Amalgamation Resolution at the Meeting, it is anticipated that the Amalgamation will be approved and take effect on or about June 20, 2017 (the "Effective Date"). At that time, Amalco will become a wholly-owned subsidiary of Total Energy, the Savanna Shares will thereafter cease to trade on the Toronto Stock Exchange and Savanna will apply to cease to be a reporting issuer under applicable securities laws as soon as reasonably practicable following the Effective Date.