News Releases

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

    TSX SYMBOL: TDGCALGARY, Dec. 16 /CNW/ - The Board of Directors of Trinidad Drilling Ltd.
("Trinidad") declared a cash dividend for the fourth quarter of 2008 of $0.15
per common share to be paid January 15, 2009 to shareholders of record on
December 31, 2008. The dividend is designated as an "eligible dividend" for
Canadian Income Tax purposes.

    Trinidad is a growth oriented corporation that trades on the TSX under
the symbol TDG. Trinidad's divisions operate in the drilling, well servicing,
coring and barge drilling sectors of the North American oil and gas industry.
With the completion of the current rig construction programs, Trinidad will
have 126 drilling rigs ranging in depths from 1,000 - 6,500 metres. In
addition to its drilling rigs, Trinidad will have 26 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, technologically advanced and competitive in the
industry.

    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the shares in any jurisdiction. The shares
offered will not be and have not been registered under the United States
Securities Act of 1933 and may not be offered or sold in the United States or
to a United States person, absent registration, or an applicable exemption
therefrom.