Xtreme Drilling Corp.

The Company intends to undertake a substantial issuer bid to purchase up to an aggregate of $25 million in Xtreme Shares through a Dutch Auction tender process (the "Proposed Issuer Bid"). The Proposed Issuer Bid demonstrates Xtreme's confidence in the strength of the business and commitment to delivering shareholder value through the return of capital and enhancing liquidity to shareholders that elect to tender their Xtreme Shares. The Company believes that the growth prospects, long-term strategy and associated cash flow are not accurately reflected by the Company's current price of Xtreme Shares.

The Board of Directors has appointed an independent committee of the Directors to set the price and details around the Proposed Issuer Bid.