Pantera Drilling Income Trust Declares August Distribution


    CALGARY, Aug. 15 /CNW/ - Pantera Drilling Income Trust ("Pantera" or the
"Trust") (TSX:RIG.UN) today declared a cash distribution relating to the
period August 1, 2007 to August 31, 2007, in the amount of $0.067 per trust
unit payable on September 14, 2007 to unitholders of record on August 31,
    The Trust has a distribution reinvestment plan (the "Plan"). The Plan
provides eligible unitholders with the opportunity to reinvest their cash
distributions in additional Pantera trust units at 95% of the average market
price, as defined in the Plan. Participation information can be found on our
website at
    Cash distributions are not guaranteed and will fluctuate with the
performance of its operating entity, Pantera Drilling LP, which is dependent
upon oil and natural gas prices, the level of activity in the oil and gas
industry, seasonal weather patterns, competition, major customers, third party
suppliers, key personnel and workforce availability, among other risk factors.

    Pantera provides contract drilling services to oil and gas exploration
and production companies operating in the Western Canadian Sedimentary Basin.
Pantera is committed to providing a safe and reliable fleet of drilling rigs
to its clients. In addition to the deployment of Rig No.'s 8 and 9 in the
fourth quarter of 2006, Pantera recently converted Rig No. 4 from a range 3
telescopic single into a range 2 telescopic double and Rig No. 3 from a coil
drilling rig into a 1,600 metre conventional telescopic single.
    Additional information relating to the Trust, including its annual
information form, can be accessed on the Trust's website at and on SEDAR at

    The Toronto Stock Exchange has neither approved nor disapproved the
    information contained herein.

    %SEDAR: 00023106E

For further information:

For further information: Terry Rosentreter, Pantera Drilling Income
Trust, Suite 600, 407 - 8th Avenue S.W., Calgary, Alberta, T2P 1E5, Telephone:
(403) 515-8400, Facsimile: (403) 515-8405, E-mail:,

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