Leader Energy Services Reports First Quarter 2014 Results

Leader Energy Services Ltd. ("Leader" or the "Company") (TSX VENTURE:LEA) has
released its financial and operating results for the three month period ended
March 31, 2014. Leader's first quarter financial statements and MD&A will be
filed to SEDAR on May 23, 2014.


In the first quarter of 2014, the Company reported a 3% increase in revenue to
$8.5 million as compared to the $8.3 million reported in the first three months
of 2013. After a slow start in January, activity was strong until the second
week of March where activity was reduced as a result of an early spring
break-up. With colder weather returning in the last half of March, activity
levels improved and the Company was able to coordinate the completion of work
around road restrictions through the end of March with activity extending into
the second week of April. Average pricing for the Company's services was
consistent with the same period in 2013. The Company continues to see demand for
its services where the Company concentrates its operations in north-central
Alberta and northeast British Columbia.


As a percentage of revenue, operating costs have decreased 3% as compared to
operating costs reported in the first quarter of the prior period. These cost
savings are mainly attributed to lower third party charges, lower repair and
maintenance, partially offset by higher nitrogen costs and field staff variable
compensation. The Company reported a loss of $0.1 million for the three month
period ended March 31, 2014, compared to a loss of $0.8 million in the three
month period ended March 31, 2013. The improvement in results is attributed to
higher revenues, lower operating costs leading to improved field profitability
and lower financing and related expenditures.




Performance Summary                                                         
(000's) (unaudited)                                                         
                                                                            
                                     --------- -----------------------------
                                      Mar. 31,  Mar. 31,                    
Quarter ended                             2014      2013   $ Change % Change
                                     --------- -----------------------------
                                                                            
Revenue                              $  8,510  $  8,267  $    243        3% 
Operating expenses                      5,543     5,619       (76)      (1)%
                                     --------- -----------------------------
                                        2,967     2,648       319       12% 
General and administrative              1,042     1,011        31        3% 
Amortization                            1,021       991        30        3% 
Finance costs                             989     1,190      (201)     (17)%
Loss on settlement of loans and                                             
 borrowings                                 -       233      (233)     n/a  
Other losses                               20        59       (39)     (66)%
                                     --------- -----------------------------
Net Loss                             $   (105) $   (836) $    731      n/a  
                                     --------- -----------------------------
                                     --------- -----------------------------
Loss per share - Basic and Diluted   $  (0.00) $  (0.03) $   0.03           
EBITDA                               $  1,905  $  1,345  $    560       42% 
                                     --------- -----------------------------
                                     --------- -----------------------------
Adjusted EBITDA                      $  1,913  $  1,610  $    303       19% 
                                     --------- -----------------------------
                                     --------- -----------------------------
EBITDA refers to net income before finance costs, taxes, depreciation, and  
amortization. As the Company has not recorded any provision for income      
taxes, taxes have been excluded from the reconciliation. Adjusted EBITDA is 
calculated as EBITDA before non-cash losses on the settlement of loans and  
borrowings and share based payments. EBITDA and Adjusted EBITDA are not     
measures that have a standardized meaning and accordingly may not be        
comparable to similar measures used by other companies. Management believes 
that EBITDA and Adjusted EBITDA are useful measures of cash flow generated  
from operations as they eliminate non-cash items, non-recurring items and   
the effects of finance costs and financial restructuring.                   



Forward-looking information

This press release contains certain statements or disclosures relating to the
Company that are based on the expectations of the Company as well as assumptions
made by and information currently available to the Company which may constitute
forward-looking information under applicable securities laws. All such
statements and disclosures, other than those of historical fact, which address
activities, events, outcomes, results or developments that the Company
anticipates or expects may, or will occur in the future (in whole or in part)
should be considered forward-looking information.


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 news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Leader Energy Services Ltd.
Rod Hauser
President & CEO
[phone]
[e-mail]


Leader Energy Services Ltd.
Jason Krueger, CFA
Executive VP & Director
[phone]
[e-mail]


Leader Energy Services Ltd.
Graham Reid, CA
VP Finance & CFO
[phone]
[e-mail]