Pantera Drilling Income Trust Declares May Distribution


    CALGARY, May 19 /CNW/ - (TSX:RIG.UN) - Pantera Drilling Income Trust
("Pantera" or the "Trust") today declared a cash distribution relating to the
period May 1, 2009 to May 31, 2009, in the amount of $0.03 per trust unit
payable on June 15, 2009 to unitholders of record on May 29, 2009.
    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 Canada. 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: Lorna Pollock, 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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