Mr. Fernando Aguilar reports

CALFRAC FOLLOWS UP ON WHISTLER CONFERENCE CONTROVERSY

Ronald P. Mathison, chairman of Calfrac Well Services Ltd., commented today: "The controversy that has resulted in the cancellation of the energy portion of an investor conference, scheduled for January in the town of Whistler, carries several important implications. Canadian energy companies and members of the public have reacted strongly to recent communications from politicians like the one from the mayor of the town of Whistler. The Whistler mayor's letters, addressed to energy industry companies, effectively seek to assign specific blame, and sought corporate financial contributions to address the costs of climate change on the community of Whistler."

The conference organizers have prudently cancelled the energy portion of the investor event, as Calfrac and numerous other energy-related companies were in the process of declining to attend, as a result of the Whistler mayor's conduct.

"The complex issues around climate change are unlikely to be solved with simplistic proposals or confrontational approaches. It is well known that Canada only contributes approximately 1.5 per cent of global emissions. The global emissions that are of concern to scientists emanate from all over the world, and there are a number of other jurisdictions that produce volumes that dwarf those from Canada.

"Looking to blame energy producers in Canada, a country with among the very best oil field and industrial practices and, among developed countries, with by far the highest percentage of energy generated by hydro and other renewable sources, is unjust. That approach also ignores the role of energy consumers, who rely on the benefits of Canadian-produced energy for heating, transportation (including to destinations like Whistler), petrochemical products and a myriad other benefits to our lives. This kind of thinking also disregards the many economic benefits that Canadian energy has brought to our country and to all the people who live here.

"The Whistler conference controversy is only one element of a broader discussion that is needed, around: encouraging responsible energy development; facilitating needed pipeline approvals; appropriately streamlining new capital project approval rules; and remedying the recent deeply discounted Canadian oil and gas prices, primarily stemming from transportation bottlenecks. None of these topics is simple, but a more reasoned analysis and better approach is needed than the confrontational tack of the mayor of a jurisdiction who has looked at these matters far too narrowly and without consideration of some of the most important information."

Calfrac provides specialized oil field services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout Western Canada, the United States, Russia and Argentina.

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