Pantera Drilling Income Trust Suspends Monthly Distributions

/NOT FOR DISSEMINATION INTO THE UNITED STATES/

CALGARY, Oct. 26 /CNW/ - (TSX:RIG.UN) - Pantera Drilling Income Trust ("Pantera") announces that its monthly cash distributions of $0.03 per unit will be suspended along with its distribution reinvestment plan due to a proposed transaction with Western Energy Services Corp. ("Western").  On October 18, 2010 it was announced that Western and Pantera entered into an arrangement agreement whereby, subject to certain conditions, Western will acquire all of the issued and outstanding units of Pantera in exchange for shares of Western. Please refer to the joint press release issued October 18, 2010 for more information.

Pantera provides contract drilling services to oil and gas exploration and production companies in Canada.  Additional information relating to Pantera, including its annual information form, can be accessed on its website at www.panteradrilling.com and on SEDAR at www.sedar.com.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

%SEDAR: 00023106E

For further information:

Lorna Pollock
Pantera Drilling Income Trust
Suite 600, 407 - 8^th Avenue S.W.
Calgary, Alberta, T2P 1E5
Telephone: [phone]
Facsimile: [phone]
E-mail: [e-mail]
Website: www.panteradrilling.com