Pantera Drilling Income Trust Completes $5.28MM Rights Offering

Pantera Drilling Income Trust has successfully completed its previously announced rights offering. A total of 1,686,277 units of the Trust were issued under the rights offering to persons who exercised rights issued under the offering and to members of the Board of Trustees of the Trust, or assignees thereof, pursuant to stand-by commitments previously agreed to and described in the Trust's rights offering circular dated September 17, 2008 for gross proceeds to Pantera of approximately $5.28 million.

The proceeds of the rights offering will be used to fund capital expenditures, or repay indebtedness incurred to fund capital expenditures, including the acquisition of certain assets to be utilized on the Trust's own rigs that are typically rented by the Trust's customers, including top drives and hevi-wate drill pipe and other ancillary equipment.



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