Xtreme Coil Drilling Corp.

Xtreme Coil Drilling Corp.

August 31, 2007 19:36 ET

Xtreme Coil Announces Appointments

CALGARY, ALBERTA--(Marketwire - Aug. 31, 2007) - Xtreme Coil Drilling Corp. (TSX:XDC) ("Xtreme Coil") announces the following appointments for Xtreme Coil and for Coil-X Drilling Systems Corporation ("Coil-X").

Xtreme Coil - Tom Wood becomes Chief Executive Officer

Effective September 1, 2007, Thomas D. Wood is appointed chief executive officer of Xtreme Coil Drilling Corp. Tom remains chairman of the board.

Xtreme Coil - Ric Charron becomes Senior Vice President, Corporate Development

In August 2007, Richard R.A. Charron informed Xtreme Coil's board of directors he plans to retire in July 2008. In recognition of his planned transition, Ric is appointed senior vice president, corporate development, a new position with primary responsibility for pursuing current and future business opportunities for Xtreme Coil and Coil-X, effective September 1st. He will remain a director on Xtreme Coil's board. Directors expressed appreciation to Ric for his involvement and commitment in guiding Xtreme Coil from incorporation in May 2005 through several corporate and operational phases of the company's initial growth.

Coil-X Joint Venture - Rod Uchytil becomes Chief Operating Officer

Coil-X is Xtreme Coil's joint venture partnership with Shell Technology Ventures Fund 1 B.V. Effective September 17, 2007, Rodney J. Uchytil is appointed chief operating officer of Coil-X Drilling Systems Corporation. Rod has twenty years of experience with the past twelve in senior management involving drilling operations and engineering projects in the United States, Canada and several international locations including Mexico, Russia, Indonesia and South America. He will be based in Houston, Texas and, initially, will be responsible for new Coil-X ventures, primarily in Mexico and the Middle East.

Corporate Profile

Xtreme Coil develops and applies leading edge patented and patent-pending technology and designs to build and transport new Coil Over Top Drive® ("COTDTM") drilling rigs. These innovative and efficient drilling rigs, developed for operation in both the United States and Canada, use larger coil to drill for hydrocarbons in deeper horizons. Xtreme Coil's proprietary technology also features modular transportation units, larger injectors, larger drilling rigs and new methodologies to achieve deeper, faster and safer drilling. Xtreme Coil's common shares trade on the Toronto Stock Exchange ("TSX") under the symbol "XDC".

Contact Information

  • Xtreme Coil Drilling Corp.
    Tom Wood
    Chairman and Chief Executive Officer
    (403) 262-9500
    Xtreme Coil Drilling Corp.
    1402, 500 Fourth Avenue SW
    Calgary, Alberta T2P 2V6
    (403) 262-9522 (FAX)
    Email: ir@xtremecoil.com
    Website: www.xtremecoildrilling.com