John M. Hooks Decreases Ownership of PHX Energy Services Corp. Below 10%

John M. Hooks (the "Filer") announces that, on today's date, he has disposed of 269,900 common shares ("Common Shares") of PHX Energy Services Corp. ("PHX") (representing 0.6% of the outstanding Common Shares) by sale through the facilities of the Toronto Stock Exchange (the "Disposition").

Immediately prior to the Disposition, Mr. Hooks owned or controlled an aggregate of 4,632,076 Common Shares. Mr. Hooks now owns or controls 4,362,176 Common Shares (representing a decrease in the Filer's ownership from approximately 10.2% to 9.6% of the issued and outstanding Common Shares). Mr. Hooks may increase or decrease his shareholdings in PHX in the future depending on market conditions and other circumstances. The aggregate value of the 269,900 Common Shares sold by Mr. Hooks pursuant to the Disposition was $2,164,598 (or an average price of $8.02 per Common Share) and the Disposition was completed for personal financial reasons.

For additional information please see the Early Warning Report in relation to the Disposition which has been filed by Mr. Hooks on PHX's SEDAR+ profile at www.sedarplus.ca. A copy of the Early Warning Report may also be obtained by contacting:

PHX Energy Services Corp. John Hooks Chairman and Executive Board Chair Phone: (403) 543-4466