Stoneham Drilling Trust's U.S. Operations On the Move

Stoneham Drilling Trust, through its wholly-owned US subsidiary, Stoneham Drilling Corporation, has entered into a one year contract with the US arm of an existing Canadian client.

Stoneham Drilling has mobilized Rig 18, the first of two Stoneham Drilling rigs to be deployed into the Oklahoma Anadarko Basin. The second rig (Rig 17) is scheduled to be mobilized in mid March. Stoneham considers this to be a strategic direction to complement its Canadian operations.

Stoneham may deploy additional rigs to the US in the future.