GIL Gildan Activewear Inc

As previously disclosed in a press release dated March 26, 2009, Cordy Oilfield
Services Inc. (the "Corporation" or "Cordy") (TSX VENTURE:CKK) received from
Geosam Investments Limited ("GIL") an expression of GIL's intention to make an
offer to acquire by way of a takeover bid all of the issued and outstanding
shares of the Corporation not owned by GIL at the price of $0.20 per share in
cash (the "GIL Initiative"). Cordy established a Special Committee of its Board
of Directors to review and assess the GIL Initiative.


In light of the GIL Initiative, certain shareholders, excluding members of the
Special Committee, beneficially owning, directly or indirectly, approximately
49.5% of the common shares of Cordy, have communicated to Cordy that they would
not tender, and sell, their shares to an offer for the purchase of the issued
and outstanding common shares of Cordy at the price of $0.20 per share in cash.


Considering the significant lack of support for the GIL Initiative, the stated
intention of GIL to acquire all common shares of Cordy not owned by it at the
price of $0.20 per share, and having considered same, including receiving the
advice of both the Special Committee's financial advisor, FirstEnergy Capital
Corp., and legal counsel, the Special Committee of the Board of Directors of
Cordy has determined that the GIL Initiative cannot be completed and,
accordingly, it is not in the best interests of Cordy shareholders to further
pursue the GIL Initiative. The Special Committee of Cordy will be disbanded
having completed its work. The Board of Directors will continue to evaluate
other strategic alternatives.


Cordy Oilfield Services Inc. owns businesses in Alberta and British Columbia in
the construction, environmental, manufacturing and pipeline sectors and is
focused on implementing strategic and organic growth strategies and increasing
its focus on the oil sands which could utilize all its business units.


Forward-Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking information or
statements. More particularly and without limitation, this news release contains
forward looking statements and information concerning the intention of GIL to
make an offer to acquire by way of a takeover bid all of the issued and
outstanding shares of the Corporation not owned by GIL at the price of $0.20 per
share in cash (subject to adjustment). The forward-looking statements and
information are based on representations made to Cordy by GIL. As such, undue
reliance should not be placed on the forward looking statements and information
because Cordy can give no assurance that they will prove to be correct. By its
nature, such forward-looking information is subject to various risks and
uncertainties. These risks and uncertainties may include, but are not limited
to, whether any conditions that GIL may have for making such an offer are
satisfied. Readers are cautioned not to place undue reliance on this
forward-looking information. There is no assurance that GIL will make an offer
to acquire all of the issued and outstanding shares of the Cordy not owned by
GIL at the price of $0.20 per share in cash or that other alternatives will be
available to Cordy. Cordy undertakes no obligation to update publicly or revise
any forward-looking information, whether as a result of new information, future
events or otherwise, except as required by law.

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