AKITA Drilling Ltd.'s Board of Directors Approved the Payment of Quarterly Dividend to Shareholders

CALGARY, ALBERTA, July 20, 2006 –AKITA Drilling Ltd.’s Board of Directors approved the payment of a quarterly dividend to shareholders.

AKITA Drilling Ltd.’s Board of Directors approved an ordinary cash dividend of six cents ($0.06) per share on the Outstanding Class A Non-Voting and Class B Common shares of the Corporation for payment on October 2, 2006 to shareholders of record at the close of business September 18, 2006.AKITA is an Alberta corporation engaged in the contract drilling business in Western Canada and the North and is listed on the Toronto Stock Exchange under the symbol AKT.

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