IROC ENERGY SERVICES CORP. PROVIDES AN OPERATIONAL UPDATE AND FINANCIAL GUIDANCE, INCREASES 2011 CAPITAL EXPENDITURE BUDGET, AND ANNOUNCES RENEWAL OF CREDIT FACILITIES

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[{"type":"text","content":"\n\n\n May 26, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES/\n\nCALGARY, May 26 /CNW/ - IROC Energy Services Corp. ("IROC" or the "Corporation") (TSXV: ISC) announces an operational update and guidance with respect to revenues and EBITDAS for the first quarter of 2011. This update is being provided as a result of the significant increase in activity in our business in the first quarter of 2011 as compared to the prior year and prior quarter.\n\nOperational Update\n\nEagle Well Servicing\n\n\n >\n\n\nAERO Rental Services\n\n\n >\n\n\n2011 First Quarter Revenue and EBITDAS Guidance\n\nAs a result of the increased activity IROC forecasts revenue of $26.7 million and EBITDAS of $8.3 million for the three months ended March 31, 2011.\nIROC's interim unaudited financial statements and management's discussion and analysis ("MD&A") for the three months ended March 31, 2011 are scheduled to be released in June, 2011. This is later than normal due to the adoption of International Financial Reporting Standards. Given the length of time until the formal regulatory release of this information, the Corporation is selectively releasing certain operating information and guidance with respect to revenues and EBITDAS for the first quarter of 2011. The reader is cautioned that certain information contained in this release is forward looking and subject to adjustment d...

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