Savanna Energy Services Corp. Announces Completion of Private Offering

Savanna Energy Services Corp. Announces Completion of Private Offering 
CALGARY, ALBERTA -- (Marketwired) -- 10/02/13 -- Savanna Energy
Services Corp. ("Savanna" or the "Corporation") (TSX:SVY) announced
today that it has now completed its offering of $50 million aggregate
principal amount of 7.00% senior unsecured notes (the "Senior Notes")
due May 25, 2018 pursuant to a private placement in Canada, which was
previously announced on September 27, 2013. The Senior Notes were
priced at 99.5% of the principal amount thereof plus accrued interest
from and including May 25, 2013.  
Savanna intends to use the net proceeds from the offering of the
Senior Notes to repay a portion of its outstanding indebtedness under
its senior secured revolving credit facilities.  
RBC Capital Markets and TD Securities Inc. acted as co-lead
underwriters and joint bookrunners in a syndicate that also includes
Scotia Capital Inc. in the offering of the Senior Notes.  
The Senior Notes have not been and will not be registered under the
United States Securities Act of 1933, as amended and may not be
offered or sold in the United States.  
Savanna is a leading North American contract drilling and oilfield
services company providing a broad range of drilling, well servicing
and related services with a focus on fit for purpose technologies and
industry-leading aboriginal relationships. 
Cautionary Statement Regarding Forward-Looking Information and
Certain statements and information contained in this press release
may constitute forward-looking information within the meaning of
applicable Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. These statements are based
on certain assumptions and analysis made by Savanna in light of its
experience as well as other factors it believes are appropriate in
the circumstances. However, whether actual results or events will
conform to Savanna's expectations and predictions is subject to a
number of known and unknown risks and uncertainties which could cause
actual results and events to differ materially from Savanna's
expectations. Consequently, all of the forward-looking information
and statements made in this press release are qualified by this
cautionary statement and there can be no assurance that the actual
results or events anticipated by Savanna will be realized or, even if
substantially realized, that they will have the expected effects on
Savanna or its business or operations. Except as may be required by
law, Savanna assumes no obligation to update publicly any such
forward looking information and statements, whether as a result of
new information, future events, or otherwise. 
Savanna Energy Services Corp.
Ken Mullen
President and CEO
(403) 503-9990
(403) 267-6749 (FAX) 
Savanna Energy Services Corp.
Darcy Draudson
Executive Vice-President, Finance and CFO
(403) 503-9990
(403) 267-6749 (FAX)
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