AKITA Declares Dividend

CALGARY, ALBERTA, August 15, 2006 –AKITA Drilling Ltd.’s Board of Directors approved the payment of a quarterly dividend to shareholders.

AKITA Drilling Ltd. declared an ordinary cash dividend of five and one half cents ($0.055) per share on the outstanding Class A Non-Voting and Class B Common shares of the Corporation with a Record Date as at the close of business on September 19, 2005 and a payment date of October 3, 2005.

AKITA is an Alberta company engaged in the contract drilling business. AKITA's Class A Non-Voting Shares and Class B Common Shares are listed on the Toronto Stock Exchange under the symbol "AKT.NV.A." and "AKT.B"; respectively.

For further information please contact Murray Roth, Vice President of Finance,
(403)292-7950. Web site: http://www.akita-drilling.com