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NEWS RELEASE

PRECISION DRILLING CORPORATION TO PARTICIPATE IN

THE BARCLAY’S CAPITAL 2011 CEO ENERGY-POWER

CONFERENCE IN NEW YORK, NEW YORK

Calgary, Alberta, Canada – August 29, 2011

Precision Drilling Corporation (“Precision”) will be attending The Barclay’s Capital 2011 CEO Energy-Power Conference which is taking place September 6-8, 2011 in New York, New York. Mr. Kevin Neveu, President and Chief Executive Officer, is scheduled to present at 1:45 p.m. Eastern time (11:45 a.m. Mountain time) on Tuesday, September 6, 2011.

A live audio webcast will be accessible from Precision's website at www.precisiondrilling.com by selecting “Investor Centre”, then “Webcasts”. Shortly after the live webcast, an archived version of the webcast will be available for approximately 30 days.

About Precision

Precision is a leading provider of safe and High Performance, High Value services to the North American oil and gas industry. Precision provides customers with access to an extensive fleet of contract drilling rigs, service rigs, directional drilling services, camps, snubbing units, water treatment units and rental equipment backed by a comprehensive mix of technical support services and skilled, experienced personnel.

Precision is headquartered in Calgary, Alberta, Canada. Precision is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange under the trading symbol “PDS”.

For further information, please contact:

Carey Ford, Vice President, Finance and Investor Relations

403.716.4575

403.716.4755 (FAX)

4200, 150 – 6th Avenue S.W.

Calgary, Alberta, Canada T2P 3Y7

Website: www.precisiondrilling.com

4200, 150 - 6th Avenue S.W.

Calgary, Alberta, Canada T2P 3Y7

Telephone: 403.716.4500

Facsimile: 403.264.0251