Deepwell Announces Update on Financing

Reported by marketwire on Saturday, 7 November 2009 (on November 7, 2009)

CALGARY, ALBERTA--(Marketwire - Nov. 6, 2009) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Deepwell Energy Services Trust (TSX:DWL.UN) ("Deepwell" or the "Trust") is pleased to announce that it has finalized the terms of a rights offering to holders of its Units. Deepwell will be issuing to holders of its outstanding Units of record at the close of business on November 19, 2009, transferable rights certificates to subscribe for Units before 4:30 p.m. (Calgary time) on December 18, 2009, on the terms set out in a rights offering circular dated November 5, 2009 (the "Rights Offering Circular") to be mailed by Deepwell to its unitholders. The Rights Offering Circular will also be available on the SEDAR website at www.sedar.com. One right will be issued for each Unit outstanding and four rights will entitle the

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