Western Lakota Energy Services Inc.
TSX VENTURE : WLE

Western Lakota Energy Services Inc.

February 07, 2005 12:04 ET

Western Lakota's 16th Drilling Rig Moves to First Location

CALGARY, ALBERTA--(CCNMatthews - Feb. 7, 2005) - Western Lakota Energy
Services Inc. (TSX VENTURE:WLE), announces that it has completed
construction of the second of four drilling rigs that were announced in
August 2004. This is the Company's second 3,600 metre ultra-heavy double
drilling rig, which moved to its first location over the weekend in the
Edson, Alberta area. The Company has another two rigs currently under
construction and has plans to build an additional six rigs during 2005.
Upon successful completion of these rigs, the Company's total fleet would
be 24 rigs (net 16.5) by the end of this year.

"Consistent customer demand for our state-of-the-art drilling rigs allows
for further expansion of our rig fleet," said Elson McDougald, President
and CEO of Western Lakota. "The $25.3M private placement that is expected
to close on February 8, 2005 will enable us to work towards completing our
2005 expansion plans. We are currently very optimistic on the outlook of
the industry and the future of Western Lakota".

Western Lakota is one of Canada's fastest-growing drilling contractors
currently operating sixteen rigs with plans to grow to 24 rigs by the end
of 2005. The Company works closely with Aboriginal communities through
ownership and employment opportunities on drilling rigs. Western Lakota
continues to provide one of the newest fleets of safe and efficient
drilling rigs in Canada while striving to deliver positive results for
shareholders, customers and partners.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Western Lakota Energy Services Inc.
    Elson McDougald
    President and C.E.O.
    (403) 214-5953
    Email: elson@westernlakota.com
    Website: www.westernlakota.com
    or
    Western Lakota Energy Services Inc.
    1050, 400 - 5th Avenue SW,
    Calgary, Alberta T2P 0L6
    (403) 214-5970
    (403) 214-5955 (FAX)