IROC Energy Services Corp. Announces New $75.5 Million Credit Facility

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN UNITED STATES OR TO ANY UNITED
STATES NEWS SERVICES.


IROC Energy Services Corp. ("IROC" or the "Corporation") (TSX:ISC) is pleased to
announce that it has entered into a new $75.5 million credit facility with a
syndicate of lenders arranged by National Bank Financial as Lead Arranger and
Sole Bookrunner, including National Bank of Canada as Administrative Agent and
Lender, and Canadian Western Bank and Alberta Treasury Branches as Lenders. The
new credit facility consists of an extendible revolving operating credit
facility of $12.5 million and an extendible revolving term facility of up to $63
million available to finance equipment purchases for organic growth and
potential acquisitions. The new credit facilities have replaced IROC's existing
$50 million credit facilities with the Canadian Western Bank. 


The new credit facilities currently bear interest at the bank's prime rate plus
1.25% which interest rate may decline depending on specific levels of the
Corporation's financial ratios. The facilities are renewable annually, subject
to mutual consent of the syndicate of lenders and the Corporation maintaining
compliance with certain financial covenants. The extendable revolving operating
credit facility and the extendable revolving term facility require interest
payments only during the term of the facility. To the extent that the revolving
term facility is not renewed, debt repayments on the facility would be amortized
and repaid over a three-year period. 


Tom Alford, President and CEO of IROC commented that "we are pleased that the
National Bank of Canada, Canadian Western Bank and Alberta Treasury Branches has
chosen to participate in our business and future growth. The addition and
commitment of two new lenders in this syndicate is a reflection of their
confidence in the quality and diversity of our assets as well as the operating
strength of our Company. This new facility will provide IROC with increased
flexibility in the current operating environment and enable our Company to react
to growth opportunities as they present themselves." Additionally, Mr. Alford
indicated that "the new facility will reduce overall interest costs
significantly for IROC." 


Publicly reported information for IROC Energy Services Corp. is available at
www.sedar.com.


About IROC Energy Services Corp. 

IROC Energy Services Corp is an Alberta based oilfield services company that,
through the IROC Energy Services Partnership, supplies a comprehensive and
diverse range of products, services and equipment to the oil and gas industry,
including: IROC's well servicing division, Eagle Well Servicing, which operates
free standing single and double service rigs across Central and Southern
Alberta; IROC's contract drilling division, Mission Drilling, which operates
four contract drilling rigs rated to depths of approximately 3400 meters; IROC's
rental division, Aero Rentals, which offers a wide range of rental equipment to
the oil and gas industry in Alberta; IROC's lease construction division,
Envirocore, which offers lease building and road construction services; IROC's
safety division, IROC Safety, which has developed key technologies to address
remote air quality monitoring, designed and deployed air breathing systems and
provides a complete range of safety services for drilling, completion,
production and plant shut-down operations; IROC's communications division,
Oricomm, which provides premium communication solutions to a variety of
customers in the oil and gas industry; and Canada Tech Corp, which has developed
and offers a wide line of memory gauges and permanent monitoring systems that
measure pressure and temperature in the downhole and surface environment of oil
and gas wells.


Cautionary Statements

Certain statements contained in this press release may constitute forward
looking statements concerning, among other things, expected revenues, expected
expenses, profits, developments and strategies for IROC's operations all of
which are subject to certain risks, uncertainties and assumptions. These forward
looking statements are identified by their use of terms and phrases such as
"anticipate", "continue", "estimate", "expect", "may", "will", "projected",
"should", "believe" and other similar terms and phrases. By its nature, such
forward looking information involves known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially from
those anticipated in such forward looking statements. These risks include, but
are not limited, to the risks associated with the oil and gas industry
generally, fluctuating prices in crude oil and natural gas, changes in drilling
activity, general global economic, political and business conditions, weather
conditions, regulatory changes and availability of products, qualified personnel
and manufacturing capacity and raw materials. If any of these uncertainties
materialize, or if assumptions are incorrect actual results may vary materially
from those expected. IROC relies on litigation protection for any forward
looking statements.