Cabo Drilling Corp. Awarded
Contract by Brent Krude International and Forms Regional Strategic
Relationship
North Vancouver, BC - Cabo Drilling Corp. (TSX-V: CBE) ("Cabo" or the
"Company") announces that Brent Krude International
("BKI") has awarded Cabo a Consultation & Technical
Assistance Contract for coal & directional drilling services
thereby forming a strategic relationship with the Company to facilitate
and perform specialized drilling operations in India.
Under provisions of the strategic
alliance, Cabo will supply the technology, via on-site drill
technicians, to coordinate and perform specific types of specialized
and directional drilling operations. Cabo's experienced team will
provide consultation and technical assistance with respect to drilling
techniques, drilling operations management, drill equipment
requirements, safety and environmental procedures and policies.
BKI will provide the project
management and overall project coordination on the various directional
projects in India. BKI will also provide specialized equipment, tools
and consumables for the operations. The BKI drilling accessory and
equipment supply operations are based on BKI's unique drilling
technology expertise, and strong understanding of geology and
exploration. BKI combines this with extensive insight into resource
industry customer requirements.
Cabo President and Chairman John
Versfelt states, "We are pleased to bring Cabo Drilling Corp.'s
drilling expertise into this new market area. Brent Krude
International's solid reputation in project management and drilling
product resources, along with Cabo's directional drilling expertise,
will provide the client with extensive experienced insight and advanced
drilling performance value."
About Brent Krude
International
Brent Krude International is a mining, oilfield and geological services
and accessory supplier with advanced product lines and innovative solutions.
BKI, located in Maple Ridge BC, is emerging as a leader within selected
areas of drilling accessories, materials and equipment supplies to
Asia, Middle East and Europe.
About Cabo Drilling Corp.
Cabo Drilling Corp. is a drilling services company headquartered in
North Vancouver, British Columbia, Canada. The Company provides mining
related and specialty drilling services through its Canadian divisions
in Surrey, British Columbia; Montr�al, Quebec; Kirkland Lake, Ontario;
and Springdale, Newfoundland; as well as Cabo Drilling (Panama) Corp.
of Panama, Republic of Panama; Cabo Drilling Spain S.L. of Sevilla,
Spain; Balkan States Drilling SH.P.K. of Tirana, Albania; and Cabo
Drilling (International) Inc. The Company's common shares trade on the
Frankfurt Exchange under the symbol: DHL and on the TSX Venture
Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
"John A. Versfelt"
John A. Versfelt
Chairman, President and CEO
Further information about the Company
can be found on the Cabo website (http://www.cabo.ca) and SEDAR (www.sedar.com) or by
contacting Sheri Barton, Corporate Communications at 403-217-5830 or
Mr. John A. Versfelt, Chairman, President & CEO of the Company at
604-984-8894. For general investor relation inquiries you may also
contact Renmark Financial Communications Inc. Barbara Komorowski: bkomorowski@renmarkfinancial.com
or Arash Shahi: ashahi@renmarkfinancial.com at Tel: 514-939-3989 or
416-644-2020.
* * * *
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, potential mineral recovery processes and other
business transactions timing. Forward-looking statements address future
events and conditions and therefore, involve inherent risks and
uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
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