IROC ENERGY SERVICES CORP. RENEWS NORMAL COURSE ISSUER BID

CALGARY, Dec. 20 /CNW/ - IROC Energy Services Corp. ("IROC" or the "Company") (TSX Venture Exchange: "ISC") announced today that it has received approval from the TSX Venture Exchange to renew its normal course issuer bid (the "Bid"). Pursuant to the renewed Bid the Company may purchase, through the facilities of the TSX Venture Exchange, up to a maximum of 4,266,197 of its common shares, representing 10% of IROC's 42,661,970 issued and outstanding common shares. Purchases by IROC under the Bid may commence on December 24, 2010 and will end no later than December 23, 2011.

All common shares purchased under the Bid will be cancelled, increasing the respective proportionate share interests of all remaining shareholders. In any 30 day period purchases under the Bid may not exceed 2% of the common shares issued and outstanding at the time the purchases are made. IROC will pay the market price of its common shares on the TSX Venture Exchange at the time of acquisition and no purchases will be made other than by means of open market transactions during the period the Bid is outstanding. 

IROC is renewing the Bid because the Company continues to believe that, depending on the trading price, its common shares may from time to time be undervalued and may not reflect the financial strength and net asset value of the Company and, accordingly, the Bid is in the best interest of its shareholders. 

Under its current normal course issuer bid, which will expire on December 23, 2010, IROC purchased 1,120,648 common shares, representing approximately 2.63% of the Company's outstanding shares on December 20, 2010, at an average price of approximately $0.923 per common share.

Publicly reported information for IROC Energy Services Corp. is available at www.sedar.com.

About IROC Energy Services Corp.

IROC Energy Services Corp. is an Alberta oilfield services company that, through the IROC Energy Services Partnership, provides a diverse range of products, services and equipment to the oil and gas industry that are among the newest and most innovative in the WCSB and international markets. IROC combines cutting-edge technology with depth of experience to deliver a product and services offering in three core areas: Well Servicing & Equipment, Downhole Temperature & Pressure Monitoring Tools, and Rental Services. For more information on IROC Energy Services Corp. visit our website at www.iroccorp.com.

This press release is not for dissemination in United States or to any United States news services.  The Common Shares of IROC have not and will not be registered on the United States Securities Act of 1933, as amended (the "United States Securities Act") or any state securities laws and are not offered or sold in the United States or to any US person except in certain transactions exempt from the registration requirements of the United States Securities Act and applicable state securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

IROC Energy Services Corp.
Mr. Thomas M. Alford, President and CEO
Telephone: [phone] email: [email protected]m