Parker Drilling Updates Status of Tender Offer for 2013 Senior Notes

Parker Drilling has updated on the current status of its cash tender offer and consent solicitation for any and all of the $225,000,000 outstanding principal amount of its 9-5/8% Senior Notes due 2013 (the "Notes") (CUSIP No. 701081AM3, 701081AL5), which is set to expire at 11:59 p.m., New York City time, on April 2, 2010, unless extended or earlier terminated. As of 5:00 p.m., New York City time, on Friday, March 19, 2010, $96.3 million in outstanding principal amount of the Notes had been tendered to the Company.

The tender offer is conditioned upon, among other things, the completion by the Company of certain related financing transactions that the Company expects to conclude on March 22, 2010.