CanElson Drilling Inc.

CanElson Drilling Inc.

March 10, 2010 17:54 ET

CanElson Drilling Grants Stock Options

CALGARY, ALBERTA--(Marketwire - March 10, 2010) - CanElson Drilling Inc. ("CanElson") (TSX VENTURE:CDI) announced today that it has granted 183,000 stock options to the independent directors with an exercise price of $3.00 per share. These options will vest in annual one-third tranches ranging from the date of grant to March 2013 and expiring on dates ranging from September 2012 to March 2014. The total number of options outstanding as of the date hereof is 1,765,000.

CanElson is an Alberta, Canada corporation that is currently engaged in the manufacture, acquisition and operation of drilling rigs for the oil and gas industry. The Corporation currently operates in the western Canadian sedimentary basin (the "WCSB"), the United States and Mexico.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • CanElson Drilling Inc.
    Elson J. McDougald
    Chairman and Chief Executive Officer
    (403) 266-3922 ext. 226
    CanElson Drilling Inc.
    Randy Hawkings
    President and Chief Operating Officer
    (403) 266-3922 ext. 225