Estrella International Energy Services Ltd. Announces Filing of Q1 Financial Statements

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Estrella International Energy Services Ltd. ("Estrella" or the "Company") (TSX
VENTURE:EEN) announces that on May 30, 2014 it filed its Interim Condensed
Consolidated Financial Statements and the related Management's Discussion and
Analysis ("MD&A") for the three month period ended March 31, 2014. Copies of
these documents can be found on the SEDAR website at www.sedar.com. In this
press release, except for share amounts, all dollar amounts are in US$ '000
unless otherwise specified.


During the quarter ended March 31, 2014, the Company placed additional rigs to
work in Colombia and started operations with rig 1001 on a 5 year contract in
Argentina, which was moved to Argentina from Bolivia in the last quarter of
2013. During the first quarter of 2014, the entire Argentine rig fleet (6 rigs)
operated on multi-year contracts. The Company finished the first quarter of 2014
with 47% average rig utilization. The Company currently has 24 of 45 rigs on
contracts. 


Similar to the year ended December 31, 2013, during the first quarter of 2014,
the Company showed significant progress in the Argentine market with its
directional drilling alliance with Scientific Drilling International, recording
its highest ever quarterly revenue of $1,837. The Company expects to increase
this investment in the Argentine market in 2014 by bringing new sets of
directional drilling tools that will allow the Company to expand its market
position.


Selected Financial Information for the Quarter Ended March 31, 2013

During the quarter ended March 31, 2014, the Company recorded total revenues of
$56,256 ($16,532 in 2013). The revenue for the quarter ended March 31, 2014 was
offset by general and administrative expenses of $3,874 ($2,935 in 2013),
depreciation of $9,023 ($3,253 in 2013), interest expense of $1,913 ($1,523 in
2013) and oilfield expenses of $45,505 ($14,821 in 2013). For the quarter ended
March 31, 2014, the Company also recorded other (income) and expense of $-204
($-28 during 2013). EBITDA of the quarter ended March 31, 2014 was $6,877
($-1,224 in 2013) representing a remarkable improvement for the Company.


About Estrella

Estrella is an oil and natural gas, geothermal and mining service company with
operations throughout Latin and South America. It provides conventional drilling
services; directional drilling services; tools and equipment sales and rentals;
work-over and finishing services; and consulting and engineering services. The
Corporation is headquartered in Buenos Aires, Argentina and has operating
locations in six countries Latin and South America.


Forward Looking Statements

This press release may contain forward-looking statements which reflect
management's expectations regarding future growth, results of operations,
performance and business prospects of Estrella. These forward-looking statements
may relate to, among other things, forecasts or expectations regarding business
outlook for Estrella; commodity prices for oil and natural gas; oil and natural
gas demand and production growth; debt service requirements for Estrella;
improvements in operating procedures and technology; capital expenditures by
Estrella and the oil and gas industry; the business strategies of Estella's
customers; future global economic conditions; and future results of operations;
expectations regarding the Corporation's ability to raise capital; realization
of the anticipated benefits of acquisitions and dispositions, revenue growth,
future acquisitions, generation of cash flow, and may also include other
statements that are predictive in nature, or that depend upon or refer to future
events or conditions, and can generally be identified by words such as "may",
"will", "expects", "anticipates", "intends", "plans", "believes", "estimates",
"guidance" or similar expressions. In addition, any statements that refer to
expectations, projections or other characterizations of future events or
circumstances are forward-looking statements. These statements are not
historical facts or guarantees of future performance, but instead represent
management's current expectations, estimates and projections regarding future
events. 


The reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or circumstances,
such as future availability of capital on favourable terms, may cause actual
results to differ materially from those predicted, as a result of numerous known
and unknown risks, uncertainties, and other factors, many of which are beyond
the control of Estrella. The reader is cautioned not to place undue reliance on
any forward-looking information. Such information, although considered
reasonable by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated. Forward-looking
statements contained in this press release are expressly qualified by this
cautionary statement. The forward-looking statements contained in this press
release are made as of the date of this press release, and Estrella does not
undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by securities law.


THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES
HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Estrella International Energy Services Ltd.
Carlos Valencia
Chief Executive Officer
[phone]


Estrella International Energy Services Ltd.
Javier Vedoya
Chief Financial Officer
[phone]
[phone] (FAX)
[e-mail]
www.estrellasp.com