Mr. Andy Pernal reports

STRAD ENERGY SERVICES UPDATES NORMAL COURSE ISSUER BID

Strad Energy Services Ltd. has purchased one million shares at a cost of $1.50 per share under its normal course issuer bid (NCIB). The NCIB commenced on Sept. 14, 2017, and, as at the date hereof, Strad has invested $1.7-million repurchasing an aggregate of 1,121,800 common shares at an average cost of $1.50 per share. Strad may still purchase an additional 1,878,837 common shares until the end of the program on Sept. 13, 2018, and expects to continue to do so, subject to available excess cash flow and trading restrictions that may arise due to continuing corporate activities.

Strad maintains a strong balance sheet with a financed debt position at year-end Dec. 31, 2017, of $9.8-million and a financed-debt-to-2017-EBITDA (earnings before interest, taxes, depreciation and amortization) ratio of 0.4. In addition, Strad previously announced a capital expenditure budget for 2018 of $8.0-million. Management expects to continue to allocate a portion of 2018 free cash flow to the NCIB program, as well as to any growth or acquisition opportunities that enhance shareholder value.

About Strad Energy Services Ltd.

Strad is a North American energy services company that provides rental equipment and matting solutions to the oil and gas and energy infrastructure sectors. Strad focuses on providing complete customer solutions in Canada and the United States.

Strad is headquartered in Calgary, Alta., Canada. Strad is listed on the Toronto Stock Exchange under the trading symbol SDY.