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Press release from Marketwire

PHX Energy Services Corp. Announces May 2012 Dividend

Tuesday, May 15, 2012

PHX Energy Services Corp. Announces May 2012 Dividend08:00 EDT Tuesday, May 15, 2012CALGARY, ALBERTA--(Marketwire - May 15, 2012) - PHX Energy Services Corp. (TSX:PHX) ("Phoenix" or the "Company") announces that its Board of Directors has declared a cash dividend of $0.06 per common share designated as an "eligible dividend" within the meaning of subsection 89(1) of the Income Tax Act (Canada), and payable on June 15, 2012 to shareholders of record at the close of business on May 31, 2012. The ex-dividend date is May 29, 2012.ABOUT PHX ENERGY SERVICES CORP.PHX Energy's Canadian operations are conducted through Phoenix Technology Services LP. The Corporation maintains its corporate head office, research and development, Canadian sales, service and operational centres in Calgary, Alberta. In addition PHX Energy has a service facility in Estevan, Saskatchewan. PHX Energy's US operations, conducted through the Corporation's wholly-owned subsidiary, Phoenix Technology Services USA Inc. ("Phoenix USA"), is headquartered in Houston, Texas. Phoenix USA has sales and service facilities in Houston, Texas; Traverse City, Michigan; Casper, Wyoming; Denver, Colorado; Fort Worth, Texas; Midland, Texas; Buckhannon, West Virginia; Pittsburgh, Pennsylvania; and Oklahoma City, Oklahoma. Internationally, PHX Energy has sales offices and service facilities in Albania, Peru, Russia, and 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