Precision Drilling Corporation Introduces the "Super Single Light" Drilling rig CALGARY, March 30 /PRNewswire-FirstCall/ -- Precision Drilling Corporation ("Precision") introduces the next generation of shallow drilling rigs that are a safe and costeffective alternative to coiled tubing drilling, ideal for the shallow gas market. The Precision "Super Single(R) Light" is a scaled down version of the original Super Single(R) rig designed with the shallow gas market in mind. The automated pipe handling system and the integrated top drive have been incorporated to ensure that the "Super Single Light" is not only efficient but safe as well. The fact that the "Super Single Light" makes use of conventional Range III jointed tubulars gives it a distinct advantage over coiled tubing. In coiled tubing applications, factors such as wellbore diameter and lithology, as well as directional drilling programs can often create situations where coiled tubing does not perform well. Therefore, the "Super SingleLight" is a more versatile option in that its performance is never compromised regardless of the drilling application. Coil tubing rigs have higher operating costs than conventional rotary rigs due to higher fuel consumption and the expendable nature of the coiled tubing. These additional costs are ultimately passed along to the customer which makes the "Super Single Light" a more cost effective solution. Up to the present time the "Super Single Light" has successfully completed a shallow gas project in northeast British Columbia in record time and under budget. Also we are currently drilling horizontal heavy oil wells in East Central Alberta with tremendous success as this project is ahead of schedule and under budget. The "Super Single Light" - more than just a shallow gas rig. Statements in this news release relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Precision to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in the market for oil and gas and related products and services, the demand for services provided by Precision, the success of Precision's technology and other factors which are described in further detail in Precision's filings with the Securities and Exchange Commission. Precision Drilling Corporation (TSX: PD and PD.U; NYSE: PDS) is a global oilfield services company providing a broad range of drilling, production and evaluation services with focus on fulfilling customer needs through fit-for- purpose technologies for the maturing oilfields of the 21st century. With corporate offices in Calgary, Alberta, Canada and Houston, Texas, and research facilities in the U.S. and Europe, Precision employs more than 10,000 people conducting operations in more than 30 countries. Precision is committed to providing efficient and safe services to create value for our customers, our shareholders and our employees. DATASOURCE: Precision Drilling Corporation CONTACT: Dale E. Tremblay, Senior Vice President Finance and Chief Financial Officer, Telephone 403-716-4500, Fax 403-264-0251, website: http://www.precisiondrilling.com/; Archived images on this organization are available through CNW E-Pix at http://www.newswire.ca/. Images are free to members of The Canadian Press. To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.

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