Stoneham Drilling Trust
TSX : SDG.UN

Stoneham Drilling Trust

May 17, 2006 09:00 ET

Stoneham Drilling Trust Announces Cash Distribution for May 2006

CALGARY, ALBERTA--(CCNMatthews - May 17, 2006) - Stoneham Drilling Trust (TSX:SDG.UN) (the "Trust") announced that its cash distribution for the period from May 1, 2006 to May 31, 2006 will be $0.125 per trust unit ($1.50 per annum). The distribution will be paid on June 15, 2006 to unitholders of record on May 31, 2006.

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 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 www.stonehamdrilling.com.

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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