CE Franklin (CFK) Board Reinstates Ability to Buyback 5% of Common Stock

CE Franklin Ltd. (NASDAQ: CFK) announced today that its Board of Directors has authorized the renewal of the Company's Normal Course Issuer Bid.

Under the renewed NCIB, CE Franklin may purchase for cancellation up to 850,000 of its Common Shares without par value, being approximately 5% of the total number of Common Shares outstanding as of the date hereof, from time to time in open market or privately negotiated transactions.� The share repurchase will be conducted solely through the facilities of NASDAQ and is subject to prevailing market conditions and other considerations.

CE Franklin has purchased 3,102 Common Shares for cancellation under its existing NCIB which will expire on December 31, 2011 and purchased 615,479 Common Shares under its previous NCIB programs.� Purchases under the renewed NCIB may commence on January 3, 2012 and be made until December 31, 2012.

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