News Releases

Red Deer, Canada – March 20, 2012 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) today announced its operating and financial results for the fourth quarter and year ended December 31, 2011.

High Arctic generated revenue of $127.2 million, compared to $119.3 million in 2010, representing a 6.6% increase. This increase was driven by a $7.9 million, or 20.2% increase in Canadian revenue. Adjusted EBITDA was $33.4 million compared to $33.3 million in 2010.

Net earnings for 2011 of $18.0 million ($0.40 per share), increased by $3.5 million, representing an increase of 24.1% compared to $14.5 million ($0.46 per share) in 2010.

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Red Deer, Canada – February 2, 2012 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) wishes to announce a correction to the press release issued on February 1, 2012 entitled “High Arctic Announces 2012 Capital Budget and Financial Update”.

The original press release stated that Adjusted EBITDA(1) for the fourth quarter on a consolidated basis is anticipated to range between $11 million and $12 million, which would result in total Adjusted EBITDA(1) for 2012 of $33 million to $34 million. The total Adjusted EBITDA(1) of $33 million to $34 million is for 2011 instead of 2012.

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Red Deer, Canada – February 1, 2012 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a total capital budget of $23 million for 2012, an indication of the Company’s positive outlook for growth opportunities and anticipated continued strong cash flows. Growth capital expenditures are expected to be $16 million, and maintenance capital expenditures are budgeted at $7 million. Capital expenditures are anticipated to be funded from operating cash flow.

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Red Deer, Canada – January 11, 2012 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the appointment of Mr. Dan Beaulieu as Vice President, Canadian Operations effective immediately. In that capacity, he will have responsibility for managing the Canadian operations and will be based in the Red Deer head office.

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Red Deer, Canada – November 14, 2011– The following is Management‟s Discussion and Analysis (“MD&A”) of the financial condition and results of operations of High Arctic Energy Services Inc. (the “Corporation” or “High Arctic”) for the three and nine months ended September 30, 2011 as compared to the same periods in 2010. It also contains information on the Corporation‟s future outlook based upon currently available information. This MD&A should be read in conjunction with the unaudited interim consolidated financial statements and accompanying notes for the three and nine months ended September 30, 2011 (the “Interim Financial Statements”) and the audited financial statements for the year ended December 31, 2010 and annual MD&A of those audited financial statements. Readers should also read the “Forward-Looking Statements” contained at the end of this document.

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Red Deer, Canada – November 14, 2011 – High Arctic Energy Services Inc.

Red Deer, Canada – November 14, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) today announced its operating and financial results for the third quarter and first nine months of 2011.

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Red Deer, Canada – August 11, 2012– High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to report that it has signed a contract extension for Rig 103. The contract extension extends the term for approximately 2 1⁄2 years to December 17, 2013, which coincides with the term of Rig 104 and the related drilling support services contract.

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Red Deer, Canada – August 11, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) today announced its operating and financial results for the second quarter and first six months of 2011.

Commenting on the results, Bruce Thiessen, High Arctic’s Chief Executive Officer stated: “Although the second quarter was down somewhat in terms of our operating margins and EBITDA(1), we remain optimistic moving forward based on the improvement in activity and pricing already experienced in our Canadian operation and the contract awards received in Papua New Guinea. The wet weather in western Canada setback many of the well site projects of our customers and prevented the movement of our equipment into many areas in the quarter. We anticipate increased Canadian activity in the second half based on indications from our customers and the pent up demand from the second quarter. In preparation for the busy season, we continue to plan for the industry wide shortage of qualified field personnel and are progressing on organizational initiatives to build additional crews. Additionally, we advanced our planned equipment maintenance and refurbishment program in the quarter to ensure the high quality standard of our fleet continues”.

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Red Deer, Canada – July 18, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the appointment of Mr. Bruce Thiessen to the Board of Directors of the Corporation. Mr. Thiessen is the Chief Executive Officer of High Arctic and has filled that role since December, 2008. He has been a key part of High Arctic since 1993 and instrumental in its growth.

High Arctic is also pleased to announce the appointment of Mr. Robert Morin as Chief Financial Officer effective on July 18, 2011. Mr. Morin is a Chartered Accountant and has held senior financial positions with oilfield services business for the past 12 years. Those positions have included the role of Chief Financial Officer with a publicly traded entity and Vice President, Finance with several other companies. Most recently, Robert served as Vice-President Finance and Treasurer with a large publicly traded drilling contractor.

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