Exploration Drilling International Inc.
OTC Bulletin Board : EXDL

Exploration Drilling International Inc.

November 15, 2006 03:00 ET

EDI Exploration Drilling International GmbH Secures Drilling Project in Namibia

BLAINE, WASHINGTON--(CCNMatthews - Nov. 15, 2006) - Exploration Drilling International Inc. (OTCBB:EXDL) (the "Company"), announced today that its wholly owned subsidiary, EDI Exploration Drilling International GmbH ("EDI GmbH") has secured its first water well drilling project in Namibia. This project was secured as a result of the memorandum of understanding that was recently signed by EDI GmbH with August 26 Holding Company (Pty.) Ltd., a company owned by the Namibian government, and Pamue Investment Company (Pty.) Ltd., a Namibian company whose goal is to promote the long term growth of the local economy in a socially conscious and eithical manner.

The project will involve the drilling of four wells to depths of between 120 to 200 meters on behalf of three large agricultural corporations who were impressed by the advantages presented by the Company's patent pending technologies. The Company's technological developments allow water deposits to be explored and located more quickly and at a lower cost than conventional methods. The time and cost benefits arise from the fact that the Company's technologies allow the structure of multiple geological layers to be analysed using a single well hole. Conventional exploration drilling techniques normally require the drilling of a number of well holes in order to test different geological layers.

The scarcer the water is in a particular area, the deeper the well has to be. However, there is no certainty that the first water to be found will be suitable as a drinking water source. Often there are several separate layers which contain water. Such layers can contain water which is salty, brackish, or contaminated by nitrates, pesticides or bacteria. In order to locate a suitable water layer, conventional techniques require a number of shafts and wells to be drilled and constructed, with each at different depths. By avoiding the need to drill and construct multiple wells, the Company's drilling system can provide decisive cost benefits.

EDI Exploration Drilling International GmbH is the wholly owned subsidiary of Exploration Drilling International Inc. Exploration Drilling International Inc.'s shares are traded on over-the-counter market in the United States (OTCBB:EXDL) as well as on the stock market in Frankfurt (WKN: A0LCJB, ISIN: US30216C1009).

This Press Release may contain, in addition, to historical information, forward-looking statements. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, there are no assurances that EDI GmbH will be able to successfully complete the above drilling project or that EDI GmbH will be able to secure future drilling projects.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

EXPLORATION DRILLING INTERNATIONAL INC.

Guenter Thiemann, Chief Financial Officer and Treasurer


Contact Information

  • Exploration Drilling International Inc.
    Dipl.-Ing. Rainer Rotthaeuser
    Chief Executive Officer and President
    +49-2364-60 44 28
    +49-2364-60-44 29 (FAX)
    Email: r.rotthaeuser@edipower.com