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Investor Relations Appointment

North Vancouver, BC – Cabo Drilling Corp. (TSX-V: CBE) (“Cabo” or the “Company”) announces that Greg Girdler, B.Sc., MBA, has joined the Investor Relations department. Mr. Girdler brings to the Company an extensive background in banking, securities, investor relations and field experience in contract mineral exploration drilling, having worked as a diamond driller and as a representative for a drilling equipment manufacturer. Most recently, Mr. Girdler managed the investor relations program for a public company in the natural resource sector and, for the 12 years prior, was an investment advisor and certified financial planner.

Subject to Exchange acceptance, incentive stock options under the Company’s stock option plan will be granted to Mr. Girdler for the purchase of 50,000 common shares of the Company at various prices ranging from $0.50 to $1.00 per share. Following the granting of the options, the Company will have unexercised director and employee stock options totalling 2,378,000 common shares.

Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its subsidiaries Advanced Drilling Ltd. of Surrey, British Columbia; Forages Cabo Inc. of Montréal, Quebec; Heath & Sherwood Drilling Inc., of Kirkland Lake, Ontario; and Petro Drilling Company Limited of Springdale, Newfoundland. The Company’s common shares trade on the TSX Venture Exchange under the symbol: CBE.

(“John A. Versfelt”)
John A. Versfelt
Chairman, President and CEO
Further information about the Company can be found on the Cabo website ( and SEDAR ( or by contacting Investor Relations Ms. Sheri Barton at 403-217-5830 or Mr. John A. Versfelt, Chairman, President & CEO of the Company at 604-984-8894.

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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Last Updated: 03/16/2006