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Abstract
(Marketwire - March 14, 2010) - Xtreme Coil Drilling Corp. (TSX:XDC) ("Xtreme Coil", the "Company") announces entry into the Middle East following the award of a long-term contract for two XTC 200DTR(PLUS) drilling rigs to operate in the Kingdom of Saudi Arabia ("Saudi Arabia").
Rod Uchytil, Xtreme Coil's president and chief executive officer noted, "We customized Xtreme Coil's most recent drilling rig design, the XTC 200DTR(PLUS), specifically for the technical requirements and challenges presented by this project. We believe deployment of our newest rig model represents the potential to initiate a step change in the evolution of this region's re-entry drilling operations. Our technical team looks forward to beginning work on this project and to introducing our new drilling technology to Saudi Arabia."
Xtreme Coil develops and applies leading-edge patented and patent-related technology and designs to build, transport, and operate new COTD(TM) drilling rigs. In addition to contracts in the United States of America, the United Mexican States and the Kingdom of Saudi Arabia, Xtreme Coil markets proprietary, dual-purpose drilling rigs to existing customers and to other international operating regions. Xtreme Coil drills with larger coil and conventional drill pipe to reach hydrocarbons in deeper horizons. Including the most recent re-entry rig design, the XTC 200DTR(PLUS), Xtreme Coil's fit-for-purpose rigs feature high capacity injectors as well as innovative handling of conventional pipe and coiled tubing, modular transportation systems and operating methods for achieving deeper, faster and safer drilling. Xtreme Coil's common shares trade on the TSX under the symbol "XDC".