Pioneer Drilling Reschedules Results Announcement

Pioneer Drilling Company (Amex: PDC) announced that it was rescheduling the announcement of its results for the three months and twelve months ended March 31, 2004 until Wednesday, June 23, 2004.

Wm. Stacy Locke, Pioneer's President and Chief Executive Officer, explained, "We are in the final stages of resolving comments from the staff of the Securities and Exchange Commission relating to the shelf registration statement we filed to cover possible resales of shares of common stock by investors who acquired shares in our February 2004 private placement, and we have decided to postpone our earnings release to allow for some time for that process to be completed, which could be as early as this afternoon."

In conjunction with its new schedule for the earnings release, Pioneer Drilling has rescheduled its related conference call, which will be broadcast live over the Internet, for Wednesday, June 23, 2004 at 11:00 a.m. Eastern time (10:00 a.m. central).