Stoneham Drilling Trust

Stoneham Drilling Trust

March 17, 2005 16:16 ET

Stoneham Drilling Trust Announces Cash Distribution for March 2005


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: STONEHAM DRILLING TRUST

TSX SYMBOL: SDG.UN

MARCH 17, 2005 - 16:16 ET

Stoneham Drilling Trust Announces Cash Distribution
for March 2005

CALGARY, ALBERTA--(CCNMatthews - March 17, 2005) - Stoneham Drilling
Trust (TSX:SDG.UN) ("Stoneham") announced that its cash distribution for
the period from March 1, 2005 to March 31, 2005 will be $0.125 per trust
unit ($1.50 per annum). The distribution will be paid on April 15, 2005
to unitholders of record on March 31, 2005.

Stoneham is an income trust that trades on the TSX under the symbol
SDG.UN. Stoneham provides contract drilling services to oil and natural
gas exploration and production companies operating in Western Canada,
using its fleet of 6 modern 3,000 metre telescopic double drilling rigs
and newly constructed 4,000 metre telescopic triple drilling rig. In
addition, Stoneham is currently completing the construction of an
additional 4,000 metre telescopic triple drilling rig.

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 Stoneham undertakes no obligation to update
forward looking statements if conditions or opinions should change.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Stoneham Drilling Trust
    Bruce Jones
    CEO
    (403) 264-7777
    Email: bjones@stonehamdrilling.ca
    or
    Stoneham Drilling Trust
    Jack Smart
    CFO
    (403) 264-7777
    Email: jsmart@stonehamdrilling.ca
    The Toronto Stock Exchange has neither approved nor disapproved of the
    information contained herein.