Ceiba Energy Services Inc. Announces Closing of Acquisition of Cam-Star Resources (1990 Ltd.)

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. 

Ceiba Energy Services Inc. ("Ceiba" or the "Company") (TSX VENTURE:CEB) is
pleased to announce it has completed its previously announced acquisition of all
of the issued and outstanding shares of Cam-Star Resources (1990) Ltd.
("Cam-Star") on February 1, 2014, for a purchase price of $2.5 million cash (the
"Acquisition"), subject to normal post-closing adjustments. The Acquisition was
funded with the net proceeds of the Company's recent $2.6 million equity unit
financing. 


Summary of the Acquisition 

Cam-Star is a privately owned operator of water disposal facilities in Central
Alberta. It has three licensed Class II operating disposal wells and associated
equipment and one licensed, suspended disposal well. The operating disposal
wells have a total surface storage capacity of approximately 1700 m3 and a daily
injection capacity of 1000 m3 (6,200 bbls). Two of the operating disposal wells
are located near Camrose, Alberta, 70 km south east of Edmonton and 80 km west
of Ceiba's Kinsella terminal and have been operating for over ten years. The
third operating disposal well is near Ponoka, Alberta approximately 100km south
of Edmonton and has been in operation for one year. 


Strategic Rationale 



--  The Acquisition is expected to provide Adjusted EBITDA of approximately
    $450,000 for 2014. Management believes that there is significant
    potential to increase future revenues through focused marketing efforts
    and operational enhancements. 
--  There are over 20,000 producing wells within 100 km radius of Cam-Star's
    operating disposal wells. 
--  With the completion of the Acquisition, Ceiba has established a network
    of six operating sites from Grande Prairie southeast to Kinsella and
    south to Ponoka.



"We are pleased to have closed this Acquisition," said Ian Simister, President.
"This is another significant step forward in Ceiba's strategic plan to provide
our customers with disposal options where they need it most, as we continue to
build our business both with organic projects like Chamberlain and acquisitions
like Cam-Star."


The Acquisition remains subject to final approval from the TSX Venture Exchange.

Future Plans and Outlook

In addition to completion of the Acquisition, the Company remains focused on its
capital and growth plans for 2014. Ceiba expects that these plans will include
expanding services at the Silver Valley facility as well as initiating
wastewater disposal services at its Athabasca site. The Company continues to
evaluate and seek additional acquisition and expansion opportunities.


About Ceiba

Ceiba provides specialized services to the energy sector, specifically to
companies involved in the exploration, extraction and production of oil and
natural gas in under serviced market space throughout Western Canada. Ceiba
develops and constructs facilities in proximity to its customers to provide
treatment of crude oil emulsion, terminalling, storage and marketing of oil and
disposal of production water.


Reader Advisory

Certain information regarding Ceiba in this news release, including management's
assessment of the benefits from the completion of the Acquisition, management's
projected Adjusted EBITDA, the Company's ability to expand services at the
Silver Valley facility and its Athabasca site, and the Company's future revenues
and operations, may constitute forward looking statements under applicable
securities laws and necessarily involve risks including, without limitation,
risks associated with receipt of regulatory approvals the Company's ability to
meet its growth expectation, the Company's ability to secure financing as
required, risks associated with oilfield services operations, general risks
associated with oil and gas exploration, development, production, marketing and
disposal of waste, loss of markets, environmental risks, competition from other
service providers, delays resulting from or inability to obtain required
regulatory approvals and ability to access sufficient capital from internal and
external sources. As a consequence, actual results may differ materially from
those anticipated in the forward-looking statements. Readers are cautioned that
the foregoing list of factors is not exhaustive. Additional information on these
and other factors that could affect Ceiba's operations and financial results are
included in reports on file with Canadian securities regulatory authorities and
identified in Ceiba's management discussion and analysis for the year ended
December 31, 2012 ("MD&A"), and may be accessed through the SEDAR website
(www.sedar.com). The forward-looking statements or information contained in this
news release are made as of the date hereof and Ceiba does not undertake any
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


This news release includes the term Adjusted EBITDA which has been defined as
net income, plus income taxes, total other (income) expenses, depreciation and
amortization and non-cash charges for share-based compensation, commission costs
and transaction costs. EBITDA as presented does not have any standardized
meaning prescribed by international financial reporting standards and therefore
may not be comparable with the calculation of similar measure for other
entities. Management analyzes Adjusted EBITDA as a key indicator for the results
generated by the Company's core business activities. 


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 the accuracy of this release.


Ceiba Energy Services Inc. 

Please visit Ceiba's website at: www.ceibaenergy.com 

FOR FURTHER INFORMATION PLEASE CONTACT: 
Ceiba Energy Services Inc.
Ian Simister
President
403-262-2783


Ceiba Energy Services Inc.
Shankar Nandiwada
CFO
403-262-2783


Ceiba Energy Services Inc.
Todd Hanas
Investor Relations
1-866-869-8072
[e-mail]
www.ceibaenergy.com