Calfrac Appoints New President, COO

Calfrac Well Services announced that Fernando Aguilar has been appointed as the President and Chief Operating Officer of Calfrac, effective November 1, 2010. Mr. Aguilar will report to Doug Ramsay, who will continue to serve as Chief Executive Officer and a director, and in that role will remain responsible for providing stewardship and control over the business and affairs of the Company. Mr. Aguilar, who has been a director of Calfrac since May 2008, has resigned from the board of directors.

Mr. Gordon Dibb, Calfrac's current Chief Operating Officer, will remain with Calfrac as Executive Vice President until June 30, 2011. He will report directly to Mr. Ramsay and will assist Mr. Aguilar with matters of transition. Mr. Dibb is a founding shareholder of Calfrac Well Services Ltd. He was the company's initial Chief Financial Officer on its incorporation in 1999, and transitioned to the position of Chief Operating Officer in April 2006.

"We would like to thank Gordon for his many years of dedicated service to the Company, and the time he has given us to transition company leadership," said Doug Ramsay, Calfrac's Chief Executive Officer. "Gordon has been a key contributor to the success of Calfrac and its transition from a start-up private company to a public entity with a market capitalization of over $1 billion. Fernando has been a valuable contributor to our board of directors since his appointment in 2008, and we expect that his experience spanning over 28 years in the oilfield services sector and extensive international exposure will serve Calfrac well as it continues to execute on its growth strategy, both domestically and abroad."

Mr. Aguilar has been with CGG Veritas since 2004 and has held several leadership positions with that company, most recently serving as President, Geophysical Services for the Americas, since April 2009. Prior to joining CGG Veritas, Mr. Aguilar was with Schlumberger for 22 years, serving in roles with increasing responsibilities in the technology, business and oilfield service sectors, predominantly in the Pumping Services and Wireline and Testing groups. Mr. Aguilar's last position with Schlumberger was Vice President, Oilfield Services. Mr. Aguilar holds a degree in Civil Engineering, specializing in Hydraulic Resources Management, and has completed the Stanford Executive Program at Stanford University and the Director's Education Program at the University of Calgary.

Calfrac's common shares are publicly traded on the Toronto Stock Exchange under the trading symbol "CFW". Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada, the United States, Russia, Mexico and Argentina.

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