Calfrac Announces Retirement of CFO

CALGARY, Aug. 31, 2012 /CNW/ - Calfrac Well Services Ltd. ("Calfrac" or the "Corporation") (TSX: CFW) announced today that Laura Cillis, Calfrac's Senior Vice President, Finance and Chief Financial Officer, has advised Calfrac's board of directors and senior management team that she intends to retire by March 2013.  Ms. Cillis has made significant contributions to the Corporation since joining Calfrac on November 17, 2008.

"Laura's strong work ethic, integrity and leadership will be missed, and we are grateful for her contributions to Calfrac's growth during her tenure as CFO", commented Doug Ramsay, Calfrac's Chief Executive Officer.  "We appreciate the time Laura has given us to transition to new leadership for the finance team, and wish her all the best in her upcoming retirement", Mr. Ramsay added.

The Corporation has initiated a search process, and further information will follow once an appointment has been made.

Calfrac's common shares are publicly traded on the Toronto Stock Exchange under the trading symbol "CFW".  Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada, the United States, Russia, Mexico, Argentina and Colombia.

SOURCE: Calfrac Well Services Ltd.

Douglas R. Ramsay
Chief Executive Officer
Telephone: [phone]
Fax: [phone]

Laura A. Cillis
Senior Vice President, Finance and
Chief Financial Officer
Telephone: [phone]
Fax: [phone]

Tom J. Medvedic
Senior Vice President, Corporate Development
Telephone: [phone]
Fax: [phone]