Western Lakota Energy Services Inc.
TSX : WLE

Western Lakota Energy Services Inc.

October 19, 2005 16:38 ET

Western Lakota Closes Acquisition of Surface Casing Rig

CALGARY, ALBERTA--(CCNMatthews - Oct. 19, 2005) - Western Lakota Energy Services Inc. (TSX:WLE) and its wholly owned subsidiary Akuna Drilling Inc. announce the closing of the previously announced acquisition of a surface casing drilling rig and related spare equipment from Iron Horse Drilling Ltd. The purchase price of $2.4 million was paid by the issuance of 89,753 common shares of Western Lakota Energy Services Inc. at a deemed issue price of $13.37 per share and $1,200,000 in cash. The rig is currently contracted and Western Lakota is prepared to fulfill these contracts. All of the Iron Horse field employees have been offered employment with Akuna Drilling Inc.

One of Canada's fastest-growing drilling contractors, Western Lakota is currently operating 32 rigs, including six surface casing/core drilling rigs and has 10 more rigs planned for construction. Western Lakota continues to provide one of the newest fleets of safe and efficient drilling rigs in Canada while delivering strong results for shareholders, customers and Aboriginal partners.

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