NWE New West Energy Services Inc

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New West Energy Services Inc. (TSX VENTURE:NWE) ("New West" or the "Company") is
pleased to announce it has completed its previously announced transaction (the
"Acquisition") with Newalta Corporation ("Newalta"). The Company today acquired
a number of specialized vacuum and water trucks and other assets, and in
connection with the Acquisition the Company has assumed or retained the services
of approximately 20 employees and 25 technical field consultants, employed in
the management of drilling waste. The acquired drilling waste business will
operate under the name BearStone Environmental Solutions Inc. ("Bearstone"), a
wholly-owned subsidiary of New West. Mr. Gerry Kerkhoff, formerly of Newalta,
has been appointed President and Chief Executive Officer of Bearstone. 


The Company is also pleased to announce it has closed its previously announced
private placement of units ("Units"), each Unit being comprised of one common
share ("Common Share") and one Common Share purchase warrant ("Warrant"). The
subscription funds raised under the Company's previously announced subscription
receipt financing were released, and the underlying Units were issued,
concurrently with the closing of the Acquisition. The private placement was
oversubscribed and the Company today issued a total of 34,140,000 Units at a
price of $0.05 per Unit for aggregate proceeds of $1,707,000. Each of the Common
Shares and Warrants issued today are subject to a four month hold period.


In addition, in connection with the Acquisition and subject to approval of the
TSX Venture Exchange, the Company intends to issue a total of 1,100,000 Common
Shares, at a deemed issue price of $0.05 per share, as finder's fees to certain
individuals. All Common Shares issued will be subject to a four month hold
commencing on the date of issue. 


About New West

New West operates in the oil field service industry in Canada. New West sells
chemicals and provides engineering services to oil and gas exploration and
production companies.


Forward Looking Statements - This news release contains certain forward-looking
statements, which include assumptions with respect to the issue of securities.
The reader is cautioned that assumptions used in the preparation of such
information may prove to be incorrect. All such forward looking statements
involve substantial known and unknown risks and uncertainties, certain of which
are beyond the Company's control. Furthermore, the forward-looking statements
contained in this news release are made as at the date of this news release and
the Company does not undertake any obligation to update publicly or to revise
any of the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by applicable
securities laws.

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