EcoMax Announces Q3 Results

EcoMax Energy Services Ltd. ("EcoMax") (TSX VENTURE:EES) announced results for
the quarter ended September 30, 2008.


The Company recorded net income for the quarter of $9,000 ($0.000 per share)
compared to a loss of $461,000 ($0.018 per share) in the same period of 2007. In
reviewing the Company's past and future performance, Mark Hopkins, the Company's
CEO, noted:


"The Company has completed the restructuring of its operations to create a
financially sound and profitable business. In the 3rd quarter, the Company sold
the assets of its Calgary operation, shut down the Calgary shop and admin
facility and released the related employees and moved the EcoMax Pump assets and
equipment to Red Deer. The restructuring has resulted in an improvement in
operating results. The Company recorded third quarter net income of $9,000,
which represented a significant improvement from a loss of $461,000 in the same
period of 2007. This resulted from improved sales and margins and reduced
administration costs in 2008 and the inclusion of some write-downs in the EcoMax
Pump division in the 3rd quarter of 2007. Third quarter sales increased 11% from
sales in the same period last year.


This sale and the earlier sale of the Sylvan Lake operation have allowed the
Company to significantly improve its balance sheet. Working capital of $978,000
at September 30, 2008 compares to a negative working capital balance of $800,000
at December 31, 2007. A significant part (approximately $600,000) of that
working capital relates to amounts owed by the purchasers of the valve
operations' assets. These amounts are due over the next year and, with some
bridge financing, the receipt of these items should allow the Company to meet
its obligations.


For the quarter, the Company's BOP operations contributed $211,000 (2007 -
$143,000) to the Company's earnings. Decreased sales of new BOPs were offset by
activity at the new Red Deer facility. The Company has recently completed the
expansion of its Leduc facility and is focused on growing its BOP operations.
The Company expects a slight decline in activity (partly seasonal) in the 4th
quarter of this year with service activity to improve in the first 2 quarters of
2009. The EcoMax Pump division incurred a loss of $73,000 (2007 - loss of
$333,000). We are maintaining the ability to pursue existing sales leads, seek a
partner to market the Pump and to maintain pumps purchased by our customers.


Although our working capital position has improved, the Company is pursuing
alternatives to increase liquidity and grow our business during a very difficult
time for the Canadian and world economy. The changes made have put us on a much
better footing to move forward, but challenges remain."


Summarized financial information for the quarter and nine months ended September
30, 2008 and 2007 are as follows (in thousands of Canadian dollars):




                                          Quarter ended   Nine months ended
                                               Sept. 30            Sept. 30
                                       -------------------------------------
                                         2008      2007      2008      2007
                                       -------  --------  --------  --------
CONTINUING OPERATIONS
Sales                                   1,944     1,746     5,829     6,524
Cost of sales                           1,499     1,450     4,560     5,084
                                       -------  --------  --------  --------
Gross margin                              445       296     1,269     1,440
                                       -------  --------  --------  --------

Expenses
 Selling, general & admin                 362       590     1,164     1,512
 Stock-based compensation                  29        55        87       164
 Amortization                              29        72        79       203
 Interest                                  15        35        88        96
                                       -------  --------  --------  --------
                                          435       752     1,418     1,975
                                       -------  --------  --------  --------
Income (loss) from
 continuing operations                      9      (456)     (149)     (535)
Income (loss) from
 discontinued operations                    -        (5)      324        24
                                       -------  --------  --------  --------
Net income                                  9      (461)      175       511
                                       -------  --------  --------  --------
                                       -------  --------  --------  --------

Working capital                           978         7

Shareholder's equity                    1,757     2,465



To review the complete financials, please go to SEDAR's web-site at www.sedar.com.

About EcoMax Energy Services Ltd.:

EcoMax Energy Services Ltd. is an oilfield services company whose product
offering includes BOP sales and service solutions to the oil and gas and other
industries in Western Canada and the patented EcoMax Chemical Pump.
Ecomax Energy Services Ltd. (TSXV:EES)
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