American Energy Services' Presence Growing Rapidly in Mexico; New Office Opening in Mexico City.

Business & Energy Editors

HOUSTON--(BUSINESS WIRE)--June 14, 2001

American Energy Services Inc. (OTCBB:AEYS) announced today significant progress on Mexico/AES strategy. First American Energy Services, S.A. de Mexico has opened its offices in Mexico City. The offices are located in the Polanco area of town in Campos Eliseos No. 385, Pent House Torre B. The office is in full operation and staffed with five professionals whose talents include technology, budgeting and forecasting, strategic high level meeting coordination and public company experience.

Mr. Tristan Berlanga, CEO of AES S.A. de Mexico, is furthering the country to country joint venture of technology exchange as it concerns Green Oasis Environmental, the patented mini-refinery that turns waste oil into diesel and heating oil.

Mr. Berlanga will be personally delivering an invitation to the Governor of San Luis Potosi, Lic. Fernando Silva Nieto, from both Governor Jim Hodges of South Carolina and Congressman Henry Brown from the first Congressional district of South Carolina to come to Charleston, S.C. to see the technology firsthand. As previously noted, AES exclusively represents Green Oasis Environmental in Mexico and Russia.

AES, as noted in previous press releases, is keeping with its Mexico strategy of representing strong companies that bring safe environmental-enhancing products and services from the U.S. to Mexico. The first major opportunity is driven by Governor Silva Nieto's visions of centrally managing waste and all types of hazardous and non-hazardous material for San Luis Potosi and the seven surrounding states. According to Governor Silva Nieto's ecological team study, 3 million liters of used oil per year alone from the city of San Luis Potosi are produced each year for remediation. Now with the technology of Green Oasis, the State can move from soil remediation of this oil, to patented process distillation to produce high grade fuels in diesel and heating oil. AES sees a potential need of a minimum of 3 of these $2.5 million units in the foreseeable needs of this state. Pat Elliott, president of AES Inc., said, "Mexico's desire to clean its environment has been initiated through the State of San Luis Potosi to lead the charge of new technologies to treat the problems." Further, upon investigation of early stage information, AES sees a conservative requirement of 20 to 30 of these mini-distillation units valued at $50 to $75 million to achieve the goals of cleaner environment, coupled with cash flow as opposed to costly soil remediation.

In closing, AES's core business of valve manufacturing saw a strong uptick in bookings for the month of May of $1.2 million. This increase of valve business is a firm indication that these supply and demand lines have crossed and we are fully engaged in demand-side market.

This release contains forward-looking statements that are subject to risks and uncertainties. Forward-looking statements include information concerning the financial condition, results of operations, plans, objectives, future performance and business of American Energy Services. American Energy Services includes forward-looking statements in descriptions of future earnings and cash flows, anticipated capital expenditures and management strategies, plans and objectives. Statements preceded by, followed by or that include the words "believes," "expects," "anticipates" or similar expressions are generally considered to be forward-looking statements.

Forward-looking statements involve both known and unknown risks and uncertainties and actual results or performance may therefore differ materially from the expected results or performance expressed or implied by the forward-looking statements. The following important factors and risks could affect American Energy Services' actual results or performance. Primary risk factors include, but are not limited to: competitors in the market, changes in regulatory policy, changes in the price and demand for the products produced by the company's technology, a shortage of waste oil feed stock, lack of availability of manufacturing materials, lack of qualified staff and a lack of availability of third party financing for customers. In light of these risks and uncertainties the events discussed in this release may not occur.