Estrella International Energy Services Ltd. Announces Filing of Q2 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 it has filed its Interim Condensed Consolidated
Financial Statements and the related Management's Discussion and Analysis
("MD&A") for the three and six month period ended June 30, 2013. Copies of these
documents can be found on the SEDAR website at www.sedar.com. In this press
release all dollar amounts are in US$ '000 unless otherwise specified.


Financial Highlights for the Quarter Ended June 30, 2013 

During the quarter the Company recorded the highest quarterly revenues to date
of $18,717 ($16,868 in 2012), this notwithstanding that the Company's rig
utilization rate was 57% (49% in 2012). The company achieved an exit utilization
in June of 63%, resulting in the highest monthly revenues in the company's
history of $6,862. Utilization outside of Colombia continues to be very strong,
with further improvements in Colombia being the main area of focus for the
company going forward. 


The revenues for were offset by general and administrative expenses (exclusive
of turnover tax) of $2,528 or 13.5% of revenues ($2,487 in 2012 or 14.7% of
revenues), depreciation of $3,142 ($2,859 in 2012), interest expense of $1,932
($2,338 in 2012) and oilfield expenses of $15,870 ($13,903 in 2012). For the
quarter ended June 30, 2012, the Company also recorded other income of $523
($1,186 during 2012). The net loss was $4,320 ($3,802 in 2012). The Company
recorded an EBITDA of -$45 ($204 in 2012).


Significant Events Subsequent to the Quarter End

Subsequent to the quarter end, the Company completed its previously announced
acquisition of San Antonio Internacional Co. Inc. ("SAIC") for a purchase price
of approximately US$122 million (the "Acquisition"). Full details of the
Acquisition and the associated transactions can be found in the Company's press
releases dated June 17, 2013 and August 2, 2013.


On August 19, 2013, the Company held its annual general and special meeting of
shareholders (the "AGM"). At the AGM the following persons were elected as
directors for the Company for the ensuing year: Horacio Reyser, Warren Levy,
Riccardo Rodriguez, Daniel Kokogian, Diego Acevedo, Remo Mancini and Phil
MacDonnell. Collins Barrow LLP was appointed as auditor of the Company for the
ensuing year. The stock option plan for the Company was also approved by the
shareholders for the ensuing year.


At the AGM the disinterested shareholders of the Company overwhelmingly approved
the proposed private placement of Series B Preference Shares to Ringo Holding
L.P. as disclosed in the press release of the Company dated June 17, 2013. The
private placement is expected to close in September, 2013.


The shareholders also overwhelmingly approved, as a special resolution, the
proposed consolidation of the issued and outstanding common shares of the
Company by a ratio of 100:1 or such lesser consolidation ratio as may be
approved by the Board of Directors of the Company of at least 10:1. The
directors of the Company have not yet fixed the consolidation ratio. It is
expected that the consolidation will become effective on the closing date of the
private placement referred to above.


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 five 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.
Warren Levy
Chief Executive Officer
[phone]


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