Investor Relations :: Press Release

Best Energy has recently been working 9-11 rigs in the Hugoton Basin for other customers. The Company noted that activity in the field has been rising steadily over the past month as natural gas prices in the Basin have begun to increase. Assuming no further increases in utilization by its customers, at six rigs under the new contract, the Company will have increased its fleet utilization to in excess of 15 rigs. Best Energy has 25 rigs available for deployment in its existing fleet. Prior to the implementation of this contract, the Company estimated it had grown its share of the workover market in the Hugoton from 35% one year ago, to in excess of 80% currently.

Commenting on the new contract, Eugene Allan, General Manager for Best Energy in Liberal, Kansas stated, "We are very pleased to have won this contract. The award of this contract underscores the quality of work provided to our customers by our field personnel, and likewise our information and accounting systems that provide our customers significant comfort in Best's performance on and after the job. Of equal or greater importance, our being granted this contract speaks to our exceptional safety record in the field. Best Energy Services has logged over a year of no lost time due to safety incidents."

Mark Harrington, Best Energy's Chairman and CEO, also discussed prospects for the coming year stating, "As we discussed on our shareholder conference call this past quarter, during 2009 we have had a laser focus on driving down costs and discontinuing unprofitable lines of business. An example of that is our reduction in Corporate G&A expense from a $5.4 million run rate, prior to the October 2008 management swap, to under $80,000 per month currently. With that accomplished, in recent months we have turned our attention to revenue generation and potential deleveraging opportunities. For 2010, we are working to implement new initiatives to further increase revenues through the development of our Hugoton Basin Financing Partners product. At the same time, we are working to deleverage our balance sheet with the sales of our contract drilling equipment in our discontinued Moab, Utah operations and through our newly created subsidiary, Best Energy Ventures. Financing for both the Hugoton Basin Financing Partners and the Best Energy Ventures initiatives is being actively pursued with various institutional sources."

Mr. Harrington concluded, "Having worked through some extremely challenging issues and market conditions over the past year, 2010 shows considerable promise for our Company, with a greatly slimmed down cost structure, generic growth in our Hugoton Basin market, our newly awarded contract and creative revenue and deleveraging initiatives. I thank all our shareholders, our bankers at PNC Credit and, of course, the extremely dedicated workforce in Liberal, Kansas and here in Houston for their tireless work and support over the past year."

About Best Energy Services, Inc.

Based in Houston, Texas, Best Energy Services, Inc. is a leading well service/workover provider in the Hugoton Basin., 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, as such, are subject to substantial uncertainties and risks that may cause actual results to materially differ from projections. Although the Company believes that the expectations expressed herein are based on reasonable assumptions within the bounds of the Company's knowledge of its businesses, operations, business plans, budgets and internal financial projections, there can be no assurance that actual results will not differ materially from the expectations expressed herein. 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 (i) properly execute its business model, (ii) raise additional capital to sustain its business model, (iii) attract and retain personnel, including highly qualified executives, management and operational personnel, (iv) negotiate favorable current debt and future capital raises, (v) manage the inherent risks associated with operating a diversified business to achieve and maintain positive cash flow and net profitability, and (vi) get back into compliance, and remain in compliance, with its current senior secured credit facility with PNC Bank, N.A. as well as the other risks detailed from time to time in the SEC reports of Best Energy Services, Inc., including its annual report on Form 10-K/A for the transition period from February 1, 2008 to December 31, 2008 and its quarterly reports on Form 10-Q for the three months ended March 31, 2009, June 30, 2009 and September 30, 2009. 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. The forward-looking statements made herein speak only as of the date hereof and Best Energy disclaims any obligation to update these forward-looking statements.

    For further Information please contact:
    Mark Harrington
    Dennis Irwin
    Best Energy Services, Inc.
    5433 Westheimer
    Suite 825
    Houston, Texas 77056
    713-933-2600

SOURCE Best Energy Services, Inc.

http://www.BEYSinc.com