TSX SYMBOL: TDG
CALGARY, March 14 /CNW/ - The Board of Directors of Trinidad Drilling
Ltd. ("TDG") declared a cash dividend of $0.05 to be paid April 15, 2008 to
shareholders of record on March 31, 2008. The dividend is designated as an
"eligible dividend" for Canadian Income Tax purposes.
On a go-forward basis, TDG anticipates the payment of a quarterly
dividend of $0.15 ($0.60 per annum) per common share, the first of which is
anticipated to be declared to shareholders of record on June 30, 2008. Any
decision to pay dividends on the shares will be made by the Board of Directors
on the basis of Trinidad Drilling Ltd.'s earnings, financial requirements and
other conditions existing at such future time.
Trinidad Drilling Ltd. is a growth oriented corporation that trades on
the TSX under the symbol TDG. Trinidad's divisions operate in the drilling,
well servicing and barge drilling sectors of the North American oil and gas
industry. With the completion of the current rig construction programs,
Trinidad now has 110 drilling rigs ranging in depths from 1,000 - 6,500
metres. In addition to its drilling rigs, Trinidad has 20 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 and competitive in the industry.
The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: Lyle Whitmarsh, President & CEO or Brent
Conway, CFO at (403) 265-6525, e-mail: email@example.com