Stoneham Drilling Trust

Stoneham Drilling Trust

January 17, 2008 09:00 ET

Stoneham Drilling Trust Announces Cash Distribution for January 2008

CALGARY, ALBERTA--(Marketwire - Jan. 17, 2008) - Stoneham Drilling Trust (TSX:SDG.UN) ("Stoneham" or the "Trust") announced that its cash distribution for the period from January 1, 2008 to January 31, 2008 will be $0.125 per trust unit ($1.50 per annum). The distribution will be paid on February 15, 2008 to unitholders of record on January 31, 2008.

Stoneham is an income trust that provides contract drilling services to oil and natural gas exploration and production companies operating in western Canada. With its modern, innovative fleet of drilling rigs, Stoneham is an industry leader in operational performance, safety and rig utilization. Stoneham trades on the TSX under the symbol SDG.UN. The Trust pays monthly cash distributions to unitholders. To learn more about Stoneham, log on to our website at

This news release may contain forward-looking statements concerning the anticipated performance of Stoneham. Forward-looking statements are based on the estimates and opinions of management at the date the statements are made, and, subject to its obligations under applicable law, Stoneham does not intend, and does not assume any obligation to update these forward looking statements if conditions or opinions should change.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

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