Mr. Tom Wood reports

XTREME DRILLING CORP. ANNOUNCES SECOND QUARTER OPERATIONS UPDATE AND CONFERENCE CALL DETAILS

Xtreme Drilling Corp. has provided a second quarter operations update, along with the date for the second quarter 2016 earnings release and conference call.

Second quarter update

In June, Xtreme closed on the sale of all XSR coiled-tubing assets to Schlumberger. As such, results will be reported for the quarter as continuing operations for the 21 rig XDR drilling segment and discontinued operations for the XSR coiled-tubing segment.

For the second quarter of 2016, Xtreme had total operating days of 738. This was composed of operating days from continuing operations of 364 and operating days from discontinued operations of 374. Total utilization for the quarter was 29 per cent. This is composed of a utilization rate of 19 per cent for continuing operations and 58 per cent for discontinued operations. As of the release date, six XDR rigs are earning revenue in the United States.

In July, the company officially changed the corporate name to Xtreme Drilling Corp. and changed the Web address. This was related to the sale of the coil assets of the company to Schlumberger.

Second quarter results and conference call

The company expects to announce second quarter 2016 financial and operating results after market close on Aug. 4, 2016, with a follow-up conference call planned for Aug. 5, 2016, at 9 a.m. MDT, 10 a.m. CT. Tom Wood, chief executive officer, will host the conference call with participation from Matt Porter, president and chief financial officer, and will answer questions from analysts and investors.

To participate in the conference call, please dial in as follows approximately 10 minutes before the start time in your time zone.

North America toll-free:  1-866-223-7781

Alternative:  1-416-340-2216

An audio replay of the call will be available until Aug. 10, 2016. To access the replay, call 1-800-408-3053 or 1-905-694-9451 and enter passcode 9602661.

We seek Safe Harbor.