Stoneham Drilling Trust

Stoneham Drilling Trust

March 16, 2007 09:00 ET

Stoneham Drilling Trust Announces Cash Distribution for March 2007

CALGARY, ALBERTA--(CCNMatthews - March 16, 2007) - Stoneham Drilling Trust (TSX:SDG.UN) (the "Trust") announced that its cash distribution for the period from March 1, 2007 to March 31, 2007 will be $0.15 per trust unit ($1.80 per annum). The distribution will be paid on April 13, 2007 to unitholders of record on March 30, 2007.

Stoneham Drilling Trust 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 ten telescopic drilling rigs and seven additional rigs currently under construction, 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.

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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