News Releases

    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES/

    TSX SYMBOL: TDG

    CALGARY, April 1 /CNW/ - The Board of Directors of Trinidad Drilling Ltd.
(the "Corporation" or "Trinidad") is announcing the discontinuation of its
Dividend Reinvestment Plan ("DRIP") that existed for unitholders of Trinidad
Energy Services Income Trust. The discontinuation took effect upon the
reorganization (the "Reorganization") of Trinidad from an income trust to a
corporation, effective March 10, 2008, at which time all of the publicly held
trust units were exchanged for common shares of the Corporation. As such, the
distribution of March 17, 2008 has been comprised of an all cash distribution.
    In accordance with the provisions of the DRIP, each participant's account
will be settled by: (i) delivering a trust unit certificate representing such
participant's trust units held under the DRIP to the participant; and (ii) by
issuing a cheque representing a cash adjustment for any fractional trust units
held under the DRIP based upon the market price of such fractional plan units
at the time of settling the participant's account. A participant can then
exchange such trust unit certificate for a certificate representing common
shares of Trinidad by duly completing and delivering the letter of transmittal
mailed in connection with the Reorganization. Additional copies of the letter
of transmittal can be obtained under the Corporation's SEDAR profile at
www.sedar.com, or by contacting the Corporation at the address appearing
below.
    Trinidad is a growth oriented corporation that trades on the TSX under
the symbol TDG. Trinidad's divisions operate in the drilling, well servicing
and barge drilling sectors of the North American oil and natural gas industry.
With the completion of the current rig construction programs, Trinidad now has
110 drilling rigs ranging in depths from 1,000 - 6,500 metres. In addition to
its drilling rigs, Trinidad has 20 service rigs, 20 pre-set and coring rigs
and 4 barge rigs currently operating in the Gulf of Mexico. Trinidad is
focused on providing modern, reliable, expertly designed equipment operated by
well-trained and experienced personnel. Trinidad's drilling fleet is one of
the most adaptable and competitive in the industry.