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SYS-CON MEDIA Authors: Carmen Gonzalez, Liz McMillan, Kevin Jackson, Peter Silva, Greg Wind

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PHX Energy Services Corp. Announces May 2014 Dividend

CALGARY, ALBERTA -- (Marketwired) -- 05/15/14 -- PHX Energy Services Corp. (TSX: PHX) ("PHX Energy" or the "Corporation") has declared a cash dividend of $0.07 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 13, 2014, to shareholders of record at the close of business on May 30, 2014. The ex-dividend date is May 28, 2014.

ABOUT PHX ENERGY SERVICES CORP.

The Corporation, through its directional drilling subsidiary entities, provides horizontal and directional drilling technology and services to oil and natural gas producing companies in Canada, the US, Albania, Russia, and Colombia. PHX Energy develops and manufactures its E-360 electromagnetic ("EM") and P-360 positive pulse measurement while drilling ("MWD") technologies that are made available for internal operational use. In addition as the result of an acquisition completed in November 2013, PHX Energy provides electronic drilling recorder ("EDR") technology and services, through RigManager Services.

The common shares of PHX Energy are traded on the Toronto Stock Exchange under the symbol "PHX".

Contacts:
PHX Energy Services Corp.
John Hooks
esident and Chief Executive Officer
(403) 543-4466

PHX Energy Services Corp.
Cameron Ritchie
Senior Vice President, Finance and Chief Financial Officer
(403) 543-4466
www.phxtech.com

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