TRINIDAD DRILLING LTD. DECLARES FOURTH QUARTER DIVIDEND

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TSX SYMBOL: TDG, TDG.DB

CALGARY, Dec. 17 /CNW/ - The Board of Directors of Trinidad Drilling Ltd. (Trinidad) has declared a cash dividend for the fourth quarter of 2010 of $0.05 per common share to be paid January 14, 2011 to shareholders of record on December 31, 2010. The dividend is designated as an "eligible dividend" for Canadian Income Tax purposes.

Trinidad is a growth-oriented corporation that trades on the Toronto Stock Exchange (TSX) under the symbol TDG and TDG.DB. Trinidad's divisions operate in the drilling, well-servicing, coring and barge-drilling sectors of the North American oil and natural gas industry with operations in Canada, the United States and 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, technologically advanced and competitive in the industry.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the shares in any jurisdiction. The shares offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States or to a United States person, absent registration, or an applicable exemption therefrom.

For further information: Lyle Whitmarsh, President and Chief Executive Officer, [phone]; Brent Conway, Executive Vice President and Chief Financial Officer, [phone]; Lisa Ciulka, Director of Investor Relations, [phone], email: [email protected]