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AKITA Announces Permian Basin Expansion

Jan 22, 2018

CALGARY, Jan. 22, 2018 /CNW/ - AKITA Drilling Ltd. ("AKITA" or the "Company") announces its expansion into the Permian Basin.

The Company is pleased to announce that AKITA Drilling Inc., AKITA's wholly-owned USA subsidiary, has contracted Rig 90, an ultra-high spec deep capacity rig, with a major USA operator that has a significant presence in the Permian Basin. Rig 90 was redeployed from the Western Canadian natural gas basin, where it faced limited opportunities to work, and is well equipped to drill the deepest lateral wells of the Permian Basin. In addition to Rig 90, AKITA has other rigs that are well suited for USA redeployment.

AKITA is an Alberta corporation engaged in the contract drilling business in Western Canada, the North, and now, the Permian Basin. The Company is listed on the Toronto Stock Exchange under the symbol AKT.

Forward-Looking Information: Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. In particular, there can be no assurance that a transaction will be completed. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

SOURCE AKITA Drilling Ltd.

For further information: Karl Ruud, President and Chief Executive Officer, (403) 292-7979; Web site: http://www.akita-drilling.com


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