Precision Drilling Corporation announces resignation of a member of the Board CALGARY, Oct. 15 /PRNewswire-FirstCall/ -- Mr. Murray K. Mullen has tendered his resignation from the Board of Directors of Precision Drilling Corporation ("Precision") to be effective immediately. Mr. Mullen is also the Chairman of the Board and Co-Chief Executive Officer of Mullen Transportation Inc. Mr. Mullen advised that Mullen Transportation Inc. recently made an acquisition that could result in competition with one of Precision's subsidiaries. Mr. Mullen determined that, as a result thereof, it was in the best interest of Precision that he resign at this time. Mr. Mullen has been a director of Precision since 1996 and Mr. Hank Swartout, Chairman of Precision, thanks Mr. Mullen for his long service as a director and states that Mr. Mullen's leadership and guidance will be missed. Precision Drilling Corporation (TSX: PD and PDU; 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 corporate subsidiary offices in 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: please contact Mr. Hank B. Swartout, Chairman, President and Chief Executive Officer, 4200, 150 6th Avenue S.W., Calgary, Alberta T2P 3Y7, 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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