Landdrill Closes $8 Million Financing

MONCTON, NB, March 22, 2012 /CNW/ - Landdrill International Inc. (TSXV: LDI) ("Landdrill" or the "Company"), announces that it has closed the $8 million bridge loan previously announced on March 20, 2012.  The Company has used the loan proceeds to temporarily retire its operating line of credit and the remainder of the loan will be used as working capital to support the Company's record levels of activity.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For a review of the Company's results, copies of Landdrill's financial statements along with the management discussion and analysis (MD&A) can be found on SEDAR (www.sedar.com).

About Landdrill

Landdrill is a growth oriented international drilling company with a focus on the metals and minerals industry. The Company continues to explore opportunities for growth in key markets, either through establishment of new branch offices or through acquisitions as opportunities arise.  Landdrill has also modernized its drilling rigs to provide superior results to clients.  The Company has 48 drills with full branch operations in Canada, Mexico and Mongolia.

Landdrill is a forward looking company that has drilled all over the world.  Our people have drilled at altitudes over 15,000 feet and in temperatures ranging from -50 degrees Celsius to +50 degrees Celsius.

We view all our customers as partners in every venture because we know that their success ensures our future!

We offer customized drilling programs to meet your every need and we always look forward to our next challenge.

For detailed information on Landdrill International Inc., or to request a bid submission for your project worldwide, please visit our website at www.landdrill.com.

Forward-looking information

This press release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Landdrill International Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including, without limitation that all terms of the contracts will be fulfilled in their entirety, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include commodity prices, availability of personnel, materials and equipment, actual performance of equipment and processes relative to specifications and expectations, unanticipated environmental impacts and continued availability of capital and financing and general economic, market or business conditions. These risks and uncertainties are discussed in the Company's regulatory filings available at www.sedar.com.

There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Ronald Goguen, Sr.
President and Chief Executive Officer
Landdrill International Inc.
Telephone:  [phone]
www.landdrill.com 

Renmark Financial Communications Inc.
John Boidman:  [email protected]
Arash Shahi:   [email protected]
Telephone:   [phone] or [phone]
www.renmarkfinancial.com