News Releases

Red Deer, Canada – June 2, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) today announced its results for the quarter ended March 31, 2011.

High Arctic achieved EBITDA of $10.5 million during the quarter. Commenting on the results, Bruce Thiessen, High Arctic’s CEO said “I am pleased with the strong financial results for the first quarter for both Canada and Papua New Guinea. We continue to see strong demand for our services as the Canadian industry continues to target liquids rich gas to counter the impact of weak natural gas prices. With our new financing facility in place, we can take advantage of emerging opportunities to build on our momentum.”

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Red Deer, Canada – May 20, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) announces the resignation of two executives.

Mr. Chris Anderson, Vice President, Operations, has resigned with effect on June 19, 2011. Mr. Anderson joined High Arctic in 2006 with primary responsibility for the management of the Canadian operations. Mr. Morley Myden has resigned as Chief Financial Officer with effect on June 17, 2011. Mr. Myden has been the Chief Financial Officer since March 2008. The Corporation understands that Mr. Anderson and Mr. Myden will be working together at another oilfield services company.

High Arctic thanks both individuals for their years of service. They have been an important part of the turnaround of the company over the past few years. With the restructuring complete, they have decided to move on to a new challenge.

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Red Deer, Canada – May 9, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that it has entered into a financing agreement with HSBC Bank Canada for new credit facilities to replace the existing senior credit facilities. The main components of the new credit facilities are a $20 million, two year committed term loan with a four year amortization, a $5 million demand revolving operating loan and a $5 million revolving evergreen loan. The $20 million was advanced to the Corporation on May 6, 2011. The credit facilities are secured by all of the assets of High Arctic and by unlimited guarantees of its foreign subsidiaries.

The funds from the $20 million term loan, together with a cash payment of $3.7 million, were used to repay High Arctic’s existing term loan on May 6, 2011. The Corporation is required to make quarterly principal payments on the term loan of $1,250,000 beginning September 30, 2011. The term loan carries an annual interest rate of the bank’s prime interest rate plus 1.75% and has a maturity date of June 30, 2013.

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Red Deer, Canada – April 29, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) today announced that its lenders have agreed to extend the maturity of its term loan to May 16, 2011. High Arctic is using the extension period to negotiate the terms of a possible new loan agreement.

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Red Deer, Canada – April 18, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the appointment of Mr. Daniel Bordessa to the Board of Directors of the Corporation. Mr. Bordessa is a Managing Director and Partner of Cyrus Capital Partners, L.P. Cyrus Capital Partners is the investment adviser to certain funds which indirectly own or control 101,966,667 common shares of the Corporation, representing approximately 40.5% of the total outstanding shares. The appointment of Mr. Bordessa as a director will provide important representation on the board for the largest shareholder of the Corporation.

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