IROC Energy Services Corp. : December 19, 2011 IROC Energy Services Corp. Renews Normal Course Issuer Bid

IROC Energy Services Corp. Renews Normal Course Issuer Bid

Dec 19, 2011

CALGARY, Dec. 19, 2011 /CNW/ - IROC Energy Services Corp. ("IROC" or the "Corporation") (TSXV: "ISC") announced today that it has received approval from the TSX Venture Exchange to renew its normal course issuer bid (the "Bid"). Pursuant to the renewed Bid the Corporation may purchase, principally through the facilities of the TSX Venture Exchange, up to a maximum of 5,015,313 of its common shares, representing 10% of IROC's 50,153,132 issued and outstanding common shares. Purchases by IROC under the Bid may commence on December 24, 2011 and will end no later than December 24, 2012.

All common shares purchased under the Bid will be cancelled, increasing the respective proportionate share interests of all remaining shareholders. The funding for any purchases of common shares pursuant to the Bid will be financed out of working capital. In any 30 day period purchases under the Bid may not exceed 2% of the common shares issued and outstanding at the time the purchases are made. IROC will pay the market price of its common shares on the TSX Venture Exchange at the time of acquisition and no purchases will be made other than by means of open market transactions during the period the Bid is outstanding.

IROC believes that, depending on the trading price, its common shares may from time to time be undervalued and may not reflect the underlying value of its net assets and business. At such times, IROC believes that the purchase of its common shares at such market prices is a worthwhile investment.  Upon cancellation of such shares in accordance with the Bid, the holdings of the remaining shareholders represent an increased proportion of the shares outstanding and, all other things remaining equal, would result in an increased net asset value per share.

Under its current NCIB, which will expire on December 23, 2011, IROC purchased 180,000 common shares, representing less than 1% of the Company's outstanding shares on December 20, 2011, at an average price of approximately $1.76 per common share.

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

About IROC Energy Services Corp.

IROC Energy Services Corp. is an Alberta oilfield services company that, through the IROC Energy Services Partnership, provides a diverse range services and equipment to the oil and gas industry that is among the newest and most innovative in the WCSB.  IROC Energy Services Partnership operates under the business names of Eagle Well Servicing, Aero Rental Services and Helix Coil Services.  IROC combines cutting-edge technology with depth of experience to deliver equipment and services offerings in the following core areas: well servicing & equipment, rental services and coil tubing services. For more information on IROC Energy Services Corp., visit our website at .

This press release is not for dissemination in United States or to any United States news services.  The Common Shares of IROC have not and will not be registered on the United States Securities Act of 1933, as amended (the "United States Securities Act") or any state securities laws and are not offered or sold in the United States or to any US person except in certain transactions exempt from the registration requirements of the United States Securities Act and applicable state securities laws.

Neither 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 release.

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