Cabo Drilling Corp.
TSX VENTURE : CBE
FRANKFURT : DHL

Cabo Drilling Corp.

October 27, 2009 09:00 ET

Cabo Drilling Corp. Retains Renmark Financial Communications Inc.

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2009) - Cabo Drilling Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE)(FRANKFURT:DHL) is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to expand its investor relations activities.

"We are pleased to announce that we have selected Renmark to enhance the visibility of our Company within North America's investment community," states Cabo's CEO and President, Mr. John Versfelt. "Investors are looking for quality investments – companies that offer long term growth and stability. We are excited about the new opportunities that are ahead of us and look forward to working with a firm of Renmark's caliber to share our story."

Cabo's in-house IR team will work closely with Renmark to improve Cabo's communication with the North America investment community. Acting as a liaison between Cabo and retail brokers and investors, Renmark has been retained to strengthen communication links and build relationships.

Founded in 1999, Renmark started with the vision of building long-term relationships with the North America financial community to benefit its public company clients. Today, Renmark has a diverse group of clients, on US and Canadian exchanges, from the energy, mining, forestry, industrial and technology sectors. Renmark utilizes an extensive database of brokers and individuals for their outgoing call program, and works to raise the visibility of companies within the retail financial community, through road shows, direct investor and broker contact and follow-up.

In consideration of the services to be provided, the Company will pay a monthly retainer of $3,500 to Renmark Financial Communications Inc.

Renmark Financial Communications does not have any interest, directly or indirectly, in Cabo Drilling Corp. or its securities, or any right or intent to acquire such an interest.

About Cabo Drilling Corp. (TSX VENTURE:CBE)
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; Montréal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Mexico; 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; Cabo Drilling (Ghana) Limited of Accra, Ghana; 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
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).

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cabo Drilling Corp.
    Sheri Barton
    Corporate Communications
    403-217-5830
    or
    Cabo Drilling Corp.
    Mr. John A. Versfelt
    Chairman, President & CEO
    604-984-889
    ir@cabo.ca
    www.cabo.ca
    or
    General investor relation inquiries:
    Renmark Financial Communications Inc.
    Barbara Komorowski
    514-939-3989 or 416-644-2020
    bkomorowski@renmarkfinancial.com
    or
    Renmark Financial Communications Inc.
    Dan Symons
    514-939-3989 or 416-644-2020
    dsymons@renmarkfinancial.com