Forbes Energy Services Reports Selected Operating Data for June 2011

ALICE, Texas, July 12, 2011 /PRNewswire/ -- Forbes Energy Services Ltd. (TSX: FRB) today announced its rig and trucking hours for the month of June 2011.

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John Crisp, Forbes Energy Services' President and Chief Executive Officer, commented, "Oil and liquids directed activity in the Eagle Ford Shale and Permian Basin continue to drive growth, with a 24% increase in rig hours compared to the prior year period.  Trucking hours were up 34% versus the comparable period last year, although down slightly on a sequential basis.  The overall trajectory of fluid logistics work remains solidly positive, although we do experience variations from month to month as a result of the timing of large frac jobs.  Two new rigs have been received in Mexico and the third one should be placed in service soon.

"In the last month, we used approximately $20 million to purchase equipment that was previously held under operating leases and rental contracts, including 10 well servicing rigs, 3 swabbing rigs, 17 heavy trucks, 142 frac tanks and other equipment.  Going forward, we will be looking at selective opportunities to deploy additional assets.  We are exploring the possibility of sending rigs to other geographic areas, including the Bakken Shale play in North Dakota."

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U.S. rigs generally work all weekdays except holidays.  Mexico rigs generally work every day except holidays.  Trucks generally operate every day except Sundays and holidays.  Rig and truck hours represent actual hours billed to customers.

Forbes Energy Services cautions that several factors other than those discussed above may impact the Company's operating results and that a particular trend regarding the factors above may or may not be indicative of the Company's current or future financial performance.

Forbes Energy Services Ltd. is an independent oilfield services contractor that provides a broad range of drilling-related and production-related services to oil and natural gas companies, primarily onshore in Texas, Mississippi, Pennsylvania and Mexico.

Forward-Looking Statements

This press release contains "forward-looking statements," as contemplated by the Private Securities Litigation Reform Act of 1995, in which the Company discusses factors it believes may affect its operations and activities in the future. The accuracy of the Company's assumptions, expectations, beliefs and projections depend on events or conditions that change over time and are thus susceptible to change based on actual experience, new developments and known and unknown risks. The Company gives no assurance that the forward-looking statements will prove to be correct and does not undertake any duty to update them. The Company's actual future results might differ from the forward-looking statements made in this press release for a variety of factors, which include: the successful importation of one of our rigs into Mexico, the success of negotiations regarding the proposed credit facility, the ability to consummate the buyout of certain leased equipment, the successful deployment of capital in growth opportunities, the effectiveness of our current registration statement with the Securities and Exchange Commission, the approval of NASDAQ of our listing application, supply and demand for oilfield services and the level of oil and natural gas prices; the continued uncertainty in the global financial markets and its effect on domestic spending in the oil and natural gas industry; the Company's ability to maintain or improve pricing on its core services; the potential for excess capacity in the industry; competition and the ability to obtain additional cash resources through a financing or other permitted transaction. Should one or more of the foregoing risks or uncertainties materialize, or should the Company's underlying assumptions prove incorrect, the Company's actual results may vary materially from those anticipated in its forward-looking statements, and the Company's business, financial condition and results of operations could be materially and adversely affected.   Additional factors that you should consider are set forth in detail in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2010 (the "Form 10-K") as well as other filings the Company has made with the Securities and Exchange Commission.

SOURCE Forbes Energy Services Ltd.

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