Trinidad Drilling Prepares Cash Distribution for March 2008

The Board of Directors of Trinidad Drilling Ltd. ("TDG") declared a cash dividend of $0.05 to be paid April 15, 2008 to shareholders of record on March 31, 2008. The dividend is designated as an "eligible dividend" for Canadian Income Tax purposes.

On a go-forward basis, TDG anticipates the payment of a quarterly dividend of $0.15 ($0.60 per annum) per common share, the first of which is anticipated to be declared to shareholders of record on June 30, 2008. Any decision to pay dividends on the shares will be made by the Board of Directors on the basis of Trinidad Drilling Ltd.'s earnings, financial requirements and other conditions existing at such future time.