AKITA Declares Dividend

    CALGARY, July 16 /CNW/ - AKITA Drilling Ltd.'s Board of Directors
approved the payment of a quarterly dividend to shareholders.
    AKITA Drilling Ltd.'s Board of Directors approved an ordinary cash
dividend of seven cents ($0.07) per share on the Outstanding Class A
Non-Voting and Class B Common shares of the Corporation for payment on October
1, 2007 to shareholders of record at the close of business September 17, 2007.
This dividend is an eligible dividend for Canadian Income Tax Purposes.

    AKITA is an Alberta corporation engaged in the contract drilling business
and is listed on the Toronto Stock Exchange under the symbol AKT.DIVIDEND/DISTRIBUTION DECLARATION FORM

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    Date of Declaration                          July 16, 2007
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    Company                                      AKITA Drilling Ltd.
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    Type of Security on which Dividend/          AKT-A
     Distribution declared                       AKT-B
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    Amount of Dividend/per share (if stock       Seven Cents
     dividend or foreign funds, give details)    $0.07
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    Payable Date                                 October 1, 2007
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    Record Date                                  September 17, 2007
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    (TSE sets Ex-Dividend Date)
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    Contact Phone No.                            Murray Roth
                                                 403-292-7979
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