Xtreme Coil Drilling Corp.

Xtreme Coil Drilling Corp.

December 14, 2006 17:40 ET

Xtreme Coil Drilling Corp. Responds to TSX Request for Information

CALGARY, ALBERTA--(CCNMatthews - Dec. 14, 2006) - Xtreme Coil Drilling Corp. ("Xtreme" or the "Company") (TSX:XDC), further to discussions with Market Regulation Services Inc., which is owned by the TSX and the Investment Dealers' Association of Canada, is issuing the following statement with respect to recent trading activities in the Company's common shares:

Xtreme is investigating the possibility of proceeding with certain third parties to utilize its proprietary technology for coiled tubing drilling activities. However, at this time, no formal determination has been made by the Company to proceed with any such activities, and no agreements have been entered into.

Should Xtreme determine to proceed with any such arrangements, it will issue a further press release.

Corporate Profile

Xtreme Coil Drilling Corp. develops and applies leading edge patent-pending technology and designs to build and transport new Coil Over Top DriveTM drilling rigs. These innovative and efficient drilling rigs, developed for operation in both the United States and Canada, are capable of using larger coil to drill deeper for hydrocarbons. On September 5, 2006, Xtreme's common shares graduated to trading on the Toronto Stock Exchange ("TSX") under the symbol "XDC" after initially listing in May 2006 for trading on the TSX Venture Exchange, following the May 1, 2006 completion of an amalgamation with Norquay Capital Ltd.

Reader Advisory

The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. Assumptions subject to significant risks and uncertainties are the basis for these forward-looking statements. Because of these risks and uncertainties and, as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Xtreme believes that the expectations reflected in any forward-looking statements are reasonable, we can give no assurances that the expectations of any forward-looking statements will prove to be correct. Xtreme disclaims any intention, except as required pursuant to applicable securities laws, and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise, except as required pursuant to applicable securities laws.

Information relating to Xtreme Coil Drilling Corp. is also available on SEDAR at www.sedar.com.

Contact Information

  • Xtreme Coil Drilling Corp.
    Ric Charron
    Chief Executive Officer
    (403) 262-9500
    (403) 262-9540 (FAX)
    Email: ir@xtremecoil.com
    Website: www.xtremecoildrilling.com
    Xtreme Coil Drilling Corp.
    1402, 500 Fourth Avenue SW
    Calgary, Alberta T2P 2V6