Trinidad Drilling Ltd. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported revenue of CAD 126,142,000, loss before income taxes of CAD 7,892,000, net loss of CAD 12,143,000 or CAD 0.10 per diluted share against revenue of CAD 191,687,000, income before income taxes of CAD 29,554,000, net income of CAD 20,373,000 or CAD 0.21 per diluted share a year ago. Cash used in operating activities was CAD 3,302,000 or CAD 0.03 per diluted share as compared to cash flows from operating activities of CAD 24,582,000 or CAD 0.25 per diluted share for the same period a year ago. Purchase of capital asset was CAD 37,833,000 as compared to CAD 65,664,000 a year ago. Capital expenditures (including deposits) were CAD 38,809,000 against CAD 81,022,000 for the same period a year ago. EBITDA was CAD 27,261,000 or CAD 0.23 per diluted share and EBITDA before stock-based compensation was CAD 29,348,000 or CAD 0.24 per diluted share against EBITDA of CAD 67,150,000 or CAD 0.69 per diluted share and EBITDA before stock-based compensation was CAD 68,347,000 or CAD 0.71 per diluted share for the same period of last year. For the nine months, the company reported revenue of CAD 434,411,000, loss before income taxes of CAD 14,146,000, net loss of CAD 26,382,000 or CAD 0.25 per diluted share against revenue of CAD 552,517,000, income before income taxes of CAD 83,194,000, net income of CAD 60,426,000 or CAD 0.67 per diluted share a year ago. Cash provided by operating activities was CAD 126,564,000 or CAD 1.22 per diluted share as compared to CAD 154,906,000 or CAD 1.73 per diluted share for the same period a year ago. Purchase of capital asset was CAD 139,447,000 as compared to CAD 122,579,000 a year ago. Capital expenditures (including deposits) were CAD 130,207,000 against CAD 138,855,000 for the same period a year ago. Net debt at the end of Sept. 30, 2009 was CAD 479,585,000 against CAD 510,102,000 at the end of Sept. 30, 2008. EBITDA was CAD 125,618,000 or CAD 1.21 per diluted share and EBITDA before stock-based compensation was CAD 130,066,000 or CAD 1.26 per diluted share against EBITDA of CAD 195,703,000 or CAD 2.19 per diluted share and EBITDA before stock-based compensation was CAD 197,202,000 or CAD 2.20 per diluted share for the same period of last year.

Trinidad Drilling Ltd. expected to Report Fiscal Year 2009 Results on February 22, 2010. This event was calculated by Capital IQ (Created on October 20, 2009).

Trinidad Drilling Ltd., Q3 2009 Earnings Call, Nov-04-2009