Best Energy Reports Financial Results for First Fiscal Quarter 2008

Best Energy Reports Financial Results for First Fiscal Quarter 2008

Best Energy Services, Inc. (OTC Bulletin Board: BEYS), a U.S. energy production equipment and services provider, today announced its financial results for the first fiscal quarter, ended April 30, 2008, including the results for subsidiaries Bob Beeman Drilling Company and Best Well Service, Inc., which were both acquired on February 14, 2008, and comparable results for American Rig Housing, the assets of which the Company acquired on February 27, 2008.

According to Jim Carroll, Chief Financial Officer of Best Energy, “Annualized revenues for Best Well Service are currently at $18.6 million, ahead of the $17.7 million in sales that it booked in 2007. Even with very low utilization rates due to anticipated seasonal factors that historically affect its business, Beeman generated approximately $301,000 in revenue during the first quarter, which compared favorably to the approximate $61,000 achieved in the same three month period in the prior year.”

Continuing, Carroll stated, “American Rig Housing earned approximately $47,000 from rentals this year, compared to $24,000 last year; it sold one housing unit compared to two last year, resulting in a decrease in unit sales from $130,000 to $63,000 on a comparable year-over-year basis. However, for the full year in 2008, American Rig Housing sales and refurbishment orders already in hand are expected to produce revenue from unit sales equal to revenue from unit sales made in 2007.”

Financial Highlights for the three months ended April 30, 2008: — Revenues totaled $4.29 million. — Net loss from operations was $1.68 million. The loss from operations was primarily attributed to non-cash and non-recurring costs associated with the Company’s noted acquisitions. — Net loss was $4.41 million, or $0.25 loss per share. Included in the net loss are non-cash, non-recurring charges which included amortization of $2.5 million in stock costs relating to a Cash

Collateral Agreement; $1 million in deferred compensation; $160,000 in stock-based compensation costs; amortization of $60,000 of deferred financing costs, depreciation expense of $720,000; and $320,000 in non-recurring cash costs. Excluding the non-recurring or non-cash expenses, the Company realized cash flow of over $300,000.

The following unaudited consolidated pro forma results reflect the pro forma effects of the acquisitions of Bob Beeman Drilling and Best Well Service as if the acquisitions occurred at the beginning of the first fiscal quarter reporting period.

Highlights of Unaudited Consolidated Pro Forma Results for February 1, 2008 through April 30, 2008 (excludes American Rig Housing revenue contribution for the period February 1, 2008 through February 27, 2008):

— Revenues totaled $5.07 million. — Net loss from operations of $1.14 million.

— Net loss of $3.87 million or $0.19 loss per share. Excluding the non-recurring or non-cash expenses noted above, the Company would have realized cash flow of over $1,000,000.

Larry Hargrave, Chairman and Chief Executive Officer of the Company, added, “The loss in the first quarter was largely driven by the non-recurring or non-cash expenses we incurred with the acquisitions completed in mid-February to form Best Energy Services’ operating platform. Nonetheless, we are very pleased with the positive traction we are seeing across all areas of our operations, particularly given the improved utilization rates we are achieving — a critical near term objective for us. Specifically, our well services, anchored by Best Well, have continued to operate at maximum capacity, or 100% utilization. Moreover, we’ve seen utilization rates climb in our drilling services division, rising monthly from 3% in February to 24% in May, while our housing accommodations business has also seen improved utilization, increasing from 15% in February to 23% in May.”

Concluding, Hargrave said, “All things considered, Best Energy is evolving very well and we look forward to accelerating our growth as we implement our drilling rig redeployment plans during the summer.”

Best Energy will host a teleconference this afternoon, beginning at 4:15 PM Eastern, and invites all interested parties to join management in a discussion regarding the Company’s financial results, corporate progression and other meaningful developments. The conference call can be accessed via telephone by dialing toll free 1-800-366-3908 or via the web at http://www.BEYSinc.com. For those unable to participate at that time, a replay of the webcast will be available for 90 days on http://www.BEYSinc.com.

To view in-depth information regarding these results, please refer to the related Forms 10-Q filed with the U.S. Securities and Exchange Commission on Monday, June 23, 2008. You can access these and other informative Company filings via the Internet by visiting http://www.sec.gov or http://www.BEYSinc.com.

About Best Energy Services, Inc.

Based in Houston, Texas, Best Energy Services, Inc. is a leading drilling and ancillary services provider to the domestic oil, gas and mining industries. Through its subsidiaries, Best Well Service, Inc. and Bob Beeman Drilling Co., and its American Rig Housing operations, the Company is actively engaged in supporting the exploration, production and/or recovery of oil, gas, water and mineral resources in Arizona, Colorado, Kansas, New Mexico, Nevada, Oklahoma, Texas and Utah. For more information, please visit http://www.BEYSinc.com.

Certain statements contained in this press release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to substantial uncertainties and risks in part detailed in the respective Company’s Securities and Exchange Commission filings, that may cause actual results to materially differ from projections. Although the Company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses, expectations, representations and operations, there can be no assurance that actual results will not differ materially from their expectations. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the Company’s ability to execute properly its business model, to raise additional capital to implement its continuing business model, the ability to attract and retain personnel — including highly qualified executives, management and operational personnel, ability to negotiate favorable current debt and future capital raises, and the inherent risk associated with a diversified business to achieve and maintain positive cash flow and net profitability. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will, in fact, occur.

FOR MORE INFORMATION, PLEASE CONTACT Best Energy Services, Inc. Jim Carroll, Chief Financial Officer

713-933-2600

or

Elite Financial Communications Group/Elite Media Group Dodi B. Handy, President and CEO

407-585-1080 or via email at BEYS@efcg.net

Source: Best Energy Services, Inc.

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