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CanElson Drilling Signs No Cost Settlement of Savanna Lawsuit

CALGARY, ALBERTA–(Marketwire – March 8, 2011) – CanElson Drilling Inc. (“CanElson”) (TSX VENTURE:CDI) CanElson Drilling Inc. (“CanElson”) announces that the Corporation has settled the outstanding lawsuit commenced by Savanna Energy Services Corp. at no cost to the Corporation. The lawsuit was commenced by Savanna on February 5, 2010.

CanElson is an Alberta, Canada corporation that is currently engaged in the manufacture, sale, acquisition and operation of drilling and service rigs for the oil and gas industry. The Corporation currently operates in the western Canadian Sedimentary Basin, the Permian Basin of west Texas and the Ebano-Panuco-Cacalilao fields of Mexico.

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.

CONTACT INFORMATION:

CanElson Drilling Inc.
Randy Hawkings
President and Chief Executive Officer
403-266-3922

or

CanElson Drilling Inc.
Robert Skilnick
Chief Financial Officer
403-266-3922

or

CanElson Drilling Inc.
700, 808 – 4th Avenue SW
Calgary, Alberta T2P 3E8
www.CanElsondrilling.com

INDUSTRY: Energy and Utilities – Oil and Gas

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