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Press release from Marketwire

PHX Energy Services Corp. Announces October 2011 Dividend

Friday, October 14, 2011

PHX Energy Services Corp. Announces October 2011 Dividend08:00 EDT Friday, October 14, 2011CALGARY, ALBERTA--(Marketwire - Oct. 14, 2011) - PHX Energy Services Corp. (TSX:PHX) ("Phoenix" or the "Company") announces that its Board of Directors has declared a cash dividend of $0.04 per common share designated as an "eligible dividend" within the meaning of subsection 89(1) of the Income Tax Act (Canada), and payable on November 15, 2011 to shareholders of record at the close of business on October 31, 2011. The ex-dividend date is October 27, 2011.ABOUT PHX ENERGY SERVICES CORP. PHX Energy Services Corp. provides horizontal and directional drilling services to oil and natural gas exploration and development companies in Canada, United States, Albania, Peru, and Russia. Phoenix maintains its corporate head office, research and development, Canadian sales, service and operational centres in Calgary, Alberta. US operations are headquartered in Houston, Texas and sales and service facilities are located in Houston, Texas; Traverse City, Michigan; and Casper, Wyoming. In addition, US sales offices are located in Denver, Colorado, Fort Worth, Texas; Midland, Texas and Buckhannon, West Virginia. Phoenix has a sales office and service facility in Peru, a service facility in Albania, a sales and operations facility in Russia and a recently opened sales office and service facility in Bogota, Colombia. The common shares of Phoenix are traded on the Toronto Stock Exchange under the symbol "PHX".FOR FURTHER INFORMATION PLEASE CONTACT: John HooksPHX Energy Services Corp.President and Chief Executive Officer(403) 543-4466ORCameron RitchiePHX Energy Services Corp.Senior Vice President, Finance and Chief Financial Officer(403) 543-4466www.phxtech.com