Pantera Drilling Income Trust Declares September Distribution

/NOT FOR DISSEMINATION INTO THE UNITED STATES/

CALGARY, Sept. 15 /CNW/ - (TSX: RIG-UN.TO) - Pantera Drilling Income Trust ("Pantera" or the "Trust") today declared a cash distribution relating to the period September 1, 2008 to September 30, 2008, in the amount of $0.03 per trust unit payable on October 15, 2008 to unitholders of record on September 30, 2008.

The Trust has a distribution reinvestment plan (the "Plan"). The Plan provides eligible unitholders with the opportunity to reinvest their cash distributions in additional Pantera trust units at 95% of the average market price, as defined in the Plan. Participation information can be found on our website at www.panteradrilling.com.

Cash distributions are not guaranteed and will fluctuate with the performance of its operating entity, Pantera Drilling LP, which is dependent upon oil and natural gas prices, the level of activity in the oil and gas industry, seasonal weather patterns, competition, major customers, third party suppliers, key personnel and workforce availability, among other risk factors.

Pantera provides contract drilling services to oil and gas exploration and production companies operating in Canada. Additional information relating to the Trust, including its annual information form, can be accessed on the Trust's website at www.panteradrilling.com and on SEDAR at www.sedar.com.

    
    The Toronto Stock Exchange has neither approved nor disapproved the
    information contained herein.
    

Contacts

Lorna Pollock
Pantera Drilling Income Trust
Suite 600
407 - 8th Avenue S.W.
Calgary
Alberta
T2P 1E5
Telephone: (403) 515-8400
Facsimile: (403) 515-8405
E-mail: lpollock@panteradrilling.com
Website: www.panteradrilling.com