Estrella International Energy Services Ltd. Announces Filing of Q3 Financial Statements

Toronto, Ontario--(Newsfile Corp. - November 19, 2014) - Estrella International Energy Services Ltd. (TSXV: EEN) ("Estrella" or the "Company") announces that it has filed its Interim Condensed Consolidated Financial Statements and the related Management's Discussion and Analysis ("MD&A") for the three and nine month period ended September 30, 2014. Copies of these documents can be found on the SEDAR website at www.sedar.com. In this press release, except for share amounts, all dollar amounts are in US$ ‘000 unless otherwise specified.

For the quarter ended September 30, 2014, the Company had an average rig utilization of 62%. The Company currently has 27 of its 43 available rigs on contracts.

The Company continues to show significant progress in the Argentine market with its directional drilling alliance with Scientific Drilling International, recording its highest ever quarterly revenue of $2,657. The Company is currently increasing its investment in the Argentine market by bringing new sets of directional drilling tools that will allow it to expand its market position.

The Company is focused on delivering safe, high quality, modern, portable equipment and services. The Company is committed to regional growth, employing high-quality personnel and is pledged to providing customer-driven solutions to challenging problems in a variety of environments.

The Company has defined its corporate strategy based in three pillars

1) Rig fleet modernization: Divest or relocate older rigs from current fleet, keep current modern rigs competitive and pursue opportunities to buy new rigs under long term attractive contracts.

2) Expansion into E&P services: Expand Estrella- SDI alliance to other core markets, consolidate cementing and coiled tubing service lines in Colombia and strengthen integrated project management services in key markets.

3) Geographical expansion: Further increase operations in Argentina, analyze opportunities to enter Mexican market and consider E&P services contracts in Ecuador to enter this market.

Selected Financial Information for the Quarter Ended September 30, 2014

During the quarter ended September 30, 2014, the Company recorded total revenues of $64,516 ($38,648 in 2013). The revenue for the quarter ended September 30, 2014 was offset by general and administrative expenses of $3,968 ($6,209 in 2013), depreciation of $9,180 ($7,170 in 2013), interest expense of $2,613 ($3,129 in 2013) and oilfield expenses of $54,413 ($32,066 in 2013). For the quarter ended September 30, 2014, the Company also recorded other (income) and expense of $104 ($-591 during 2013).

EBITDA of the quarter ended September 30, 2014 was $6,135 ($373 in 2013). This represents the fifth consecutive quarter that the Company has reported positive EBITDA.

About Estrella

Estrella is an oil and natural gas, geothermal and mining service company with operations throughout Latin and South America. It provides conventional drilling services; directional drilling services; tools and equipment sales and rentals; work-over and finishing services; and consulting and engineering services. The Corporation is headquartered in Buenos Aires, Argentina and has operating locations in six countries Latin and South America.

For further information:

Estrella International Energy Services Ltd.

Forward Looking Statements

This press release may contain forward-looking statements which reflect management's expectations regarding future growth, results of operations, performance and business prospects of Estrella. These forward-looking statements may relate to, among other things, forecasts or expectations regarding business outlook for Estrella; commodity prices for oil and natural gas; oil and natural gas demand and production growth; debt service requirements for Estrella; improvements in operating procedures and technology; capital expenditures by Estrella and the oil and gas industry; the business strategies of Estella's customers; future global economic conditions; and future results of operations; expectations regarding the Corporation's ability to raise capital; realization of the anticipated benefits of acquisitions and dispositions, revenue growth, future acquisitions, generation of cash flow, and may also include other statements that are predictive in nature, or that depend upon or refer to future events or conditions, and can generally be identified by words such as "may", "will", "expects", "strategy" "anticipates", "intends", "plans", "believes", "estimates", "guidance" or similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These statements are not historical facts or guarantees of future performance, but instead represent management's current expectations, estimates and projections regarding future events.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Estrella. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and Estrella does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

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