Stoneham Drilling Trust
TSX : SDG.UN

Stoneham Drilling Trust

October 17, 2008 09:00 ET

Stoneham Drilling Trust Announces Cash Distribution for October 2008

CALGARY, ALBERTA--(Marketwire - Oct. 17, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Stoneham Drilling Trust (TSX:SDG.UN) ("Stoneham" or the "Trust") announced that its cash distribution for the period from October 1, 2008 to October 31, 2008 will be $0.125 per trust unit ($1.50 per annum). The distribution will be paid on November 14, 2008 to unitholders of record on October 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 and in the Anadarko Basin in the United States. 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.

Contact Information

  • Stoneham Drilling Trust
    Bruce Jones
    President and Chief Executive Officer
    (403) 264-7777
    or
    Stoneham Drilling Trust
    Jack Smart
    Chief Financial Officer
    (403) 264-7777
    or
    Stoneham Drilling Trust
    1230, 335 - 8 Avenue SW
    Calgary, Alberta T2P 1C9
    Website: www.stonehamdrilling.com