Mr. Kevin Neveu reports

PRECISION DRILLING ANNOUNCES MANAGEMENT CHANGES

Niels Espeland, president, international, has retired from Precision Drilling Corp., effective immediately. Mr. Espeland will continue to advise Precision as a consultant on a continuing basis.

Mr. Espeland has worked in the international oil field service industry for over 35 years and with Precision for the past five years. Throughout his career with Precision, Mr. Espeland has led the international group and has been instrumental in our growth in the Middle East and Latin America.

"During his five-year tenure with Precision, Niels leveraged his vast international knowledge, experience and relationships to accelerate our high performance, high-value international growth strategy. On behalf of management and the board of directors, I would like to thank Niels for his many contributions to the success of Precision and wish him the very best in his retirement," said Kevin Neveu, president and chief executive officer.

Gene Stahl, president, drilling operations, will now assume full responsibility for Precision's global drilling operations.