Parker Wins Contracts in Mexico and Turkmenistan

Parker Drilling has been awarded new contracts for three international land rigs to certain subsidiaries operating in Mexico and Turkmenistan. Parker Drilling was awarded a two rig, three-year contract for land drilling services in southern Mexico. Parker rigs 266 and 267, two new build 2000HP rigs, will begin mobilizing to location during the second quarter and are expected to begin drilling operations during the third quarter. These rigs will work in the same field as three rigs that were previously awarded three-year contracts for the same customer in March 2007. In Turkmenistan, Parker has signed a two-year contract with an option for an additional year, utilizing Rig 230 for work in eastern Turkmenistan. The rig is expected to mobilize and begin operations in the second quarter.