New Rig to Built for Work in Alaska

Pioneer Natural Resources Alaska, Inc., Doyon Drilling, Inc. and Akita Drilling Ltd. have signed a 4-year contract to build and operate a Rig to perform exploratory drilling services on the North Slope of Alaska.

The rig will be built in Canada during the summer of 2005 and operated beginning in 2006 by the newly formed Joint Venture - Doyon Akita J.V. This is a long term drilling contract for a new rig on the North Slope of Alaska.