This document provides an overview and corporate presentation for Cabo Drilling Corp. Key points include: - Cabo is a mineral drilling services company operating over 100 drill rigs across North America, Central America, and Europe. - Revenue declined after 2008 but has increased 50% from 2010 to $43.42 million in 2011, with a target of reaching the 2008 high of $58.65 million in 2012. - The company aims to expand its global market presence and improve operational efficiencies while maintaining a strong focus on safety and community relations.

1. CABO DRILLING CORP.
CORPORATE PRESENTATION
Professionals to the Core
TSX-V: CBE

2. Certain information set forth in this presentation contains
forward-looking statements. By their nature, forward-
looking statements are subject to numerous risks and
uncertainties. All statements within, other than statements
of historical fact, are to be considered forward-looking.
Such forward-looking information and statements are
based on current expectations, estimates and projections
about global and regional economic conditions as well as
industries that are major markets for Cabo Drilling Corp.
The Company does not guarantee that any of the forward
looking statements will materialize and accordingly the
reader is cautioned not to place reliance on these forward-
looking statements.
September 13, 2012
2

3. Focused on Delivering the Best Value for all our Clients in:
North America, Central America and Europe
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4. Board of Directors
John A. Versfelt, Chairman, President, Chief Executive Officer & Director
Mr. Versfelt has over 30 years experience providing leadership, management consulting, chief financial office, administration
and paralegal/regulatory services to private and public companies. Serving in a variety of roles as a Managing Director, Chief
Executive Officer and Chief Financial Officer over the last 25 years, he has been responsible for strategic planning, corporate
development and finance, administration and accounting, and legal and regulatory compliance.
Terry Aimone, BSc. P.Eng., General Manager, Europe Operations & Director
Mr. Aimone started his career as a mining consulting engineer followed by 17 years in the U.S. banking sector, working in
mine project financing. He has extensive experience in the mineral drilling industry as the current General Manager, Europe
Operations, the former General Manager, Mexico Operations and past managing director of Heath & Sherwood Drilling. He
brings a strong mix of technical, financial and management expertise to the Company.
Peter Freeman, Director
Mr. Freeman has extensive experience in public markets, finance and compliance. His experience includes six years as
Director of Markets and Compliance at the OFEX Market (now PLUS). In 2005, he joined Loeb Aron & Co as a director and
head of compliance and advisory services for their London, England, based, mining corporate finance house. Mr. Freeman
has been a director of two public companies admitted to the AIM market (OFEX Holdings plc and Capital Lease Aviation plc).
Roy Graydon, Director
Mr. Graydon has extensive experienced as both a public company CEO and CFO, and with corporate governance, investing in
public and private equity markets, and mergers and acquisitions. Mr. Graydon, who lives near Toronto, Ontario, was formerly
President, CEO and director of Aeroquest International Limited and in the past has also served on the boards of Canadian
public companies Patheon Inc., Call-Net Enterprises Inc., Cybersurf Corp., and International Comfort Products Corporation.
Tom Oliver, Director
After a 25 year career in real estate development, primarily in the Vancouver, BC area, Mr. Oliver served as Business
Administrator for a national church organization for 5 years. He is currently the CEO of a number of private corporations
and, in addition, acts as a consultant in financial administration and management.
Robert W. Schellenberg, CPA, Director
Mr. Schellenberg is a Certified Public Accountant, Vice President and owner of Schellenberg & Evers, P.C. in Grand
Rapids, Michigan. He has extensive experience in valuations, employee benefit plans, financial planning, individual and
corporate taxation and litigation support, business planning, performance measures, mergers, acquisitions and arbitration.
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5. CABO DRILLING CORP.
 Acquired five drilling services companies in 2004 and 2005
 Revenue bottomed in 2010 at $28.99 million after reaching a record
$58.65 million in 2008
 2011 revenues increased 50% from 2010 to $43.42 million
 2012 revenues targeted to reach 2008 record revenue of $58.65 million
100+ Drill Rigs
 500+ Employees
 C$24.0 Million Shareholders’ Equity
Revenue 58.65 58.70
C$ millions
41.16
43.42
38.45
28.79 28.99
2006 2007 2008 2009 2010 2011 2012
(Est)
5

6. Symbol: CBE - TSX-V
DHL - FWB
Price: $0.085
Week High / Low $0.19 - $0.07
Market Cap: $6,610,295
Shares Outstanding: 77,768,175
Fully Diluted: 92,027,755
Insider Holdings:
President & CEO 4.72%
Directors & Senior Management 4.21%
September 13, 2011 – September 13, 2012
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7. CANADA
ALBANIA
USA
TURKEY
PANAMA COLOMBIA
Cabo’s clients include:
 Kirkland Lake Gold Inc.  Minera Panama SA (Inmet Mining)
 Galway Resources Ltd.  Cliffs Natural Resources Inc.
 Queenston Mining Inc.  Goldcorp Inc.
 Century Iron Ore Mining Corp.  Labrador Iron Mines Limited
 Teck Resources Limited  Canadian Zinc Corporation
7

8. Source: MEG
STRONG INDUSTRY FUNDAMENTALS
 Base & precious metals demand & pricing have experienced record growth over the
past 4 years
 Total 2011 budget for nonferrous metals exploration was estimated at $18.2 billion, up
50% from 2010, a new all time high
 $2.29 billion was raised by junior and intermediate companies in December 2011
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9. GLOBAL MINING INDUSTRY IS FACING A MAJOR
SUPPLY/DEMAND IMBALANCE FOR PRECIOUS & BASE METALS
 Rising commodity prices continue to positively
impact the revenue and profit margins of mining
companies, as well as the availability of equity
financings for the intermediate mining and more
advanced junior exploration companies, thereby
increasing the availability of cash for exploration
activities
 The pressure is high for more advanced
exploration programs to be developed as fast as
possible to take advantage of the higher
commodity prices, driven by depleting
reserves, lower global inventories and improving
demand
 Cabo Drilling has virtually all of its fleet located in
Canada, United States and Latin America where
the majority of exploration activity is taking place
and Cabo is well positioned for growth
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10. Fiscal Year 2011
Fiscal Year 2012
Revenue
Drills:
Underground
15%
Geotechnical
4%
27 Conventional Surface Surface
80%
15 Deep Hole Surface
18 Helicopter Support
3 Man Portable
Fiscal Year 2012
Other Revenue
6 Reverse Circulation Foreign
Countries
24%
27 Underground
6 Geotechnical
Canada &
United
States
76%
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11. (CDN $000s except earnings per share) FY2011 FY2010 FY2009 FY2008
EBITDA per Share (Basic)* $ 0.04 $ 0.03 $ 0.08 $ 0.15
Earnings (Loss) per Share (Basic) $ (0.01) $ (0.03) $ (0.02) $ 0.07
Cash from Operations** $ 1,402 $ 1,057 $ 2,060 $ 5,149
Gross Margin % 22.1 25.3 26.7 23.4
*Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA)
**Before changes in non-cash working capital items
Revenue
C$ millions 58.65 58.70*
41.16 43.42
28.99
FY2008 FY2009 FY2010 FY2011 FY2012
*FY2012 – 4th Qtr 2012 (April – June) Estimated
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12.  Capital expenditures are controlled
 Stable working capital
 Implementing new field cost control systems
 Negotiating new bank credit facilities
Working Capital
C$ millions 9.64*
8.14
7.28
5.74
4.59
FY2008 FY2009 FY2010 FY2011 FY2012
*FY2012 – For the nine month period ended March 31
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13. (CDN $000s) Mar 31, 2012
Cash & cash equivalents $ 121
Current assets $ 25,899
Non-current assets $ 15,825
Total assets $ 41,845
Current liabilities (including current portion of long-term debt) $ 16,381
Long-term debt $ 1,048
Future income tax $ 436
Equity $ 23,980
Total equity and liabilities $ 41,845
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14. (CDN $000s except earnings per 1st QTR 2012 2nd QTR 2012 3rd QTR 2012
Ended Ended Ended
share) Sep 30, 2011 Dec 31, 2011 Mar 31, 2012
Revenue $ 16,929 $ 14,363 $ 14,046
EBITDA as a % of gross revenue 18.04 10.23 11.04
EBITDA per Share (Basic)* $ 0.04 $ 0.02 $ 0.02
Earnings before Taxes $ 1,520 $ 637 $ 230
Earnings per Share (Basic) $ 0.02 $ 0.01 $ 0.01
Cash from Operations** $ 1,471 $ 1,104 $ 1,012
Gross Margin % 24.6 24.1 23.2
*Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA)
**Before changes in non-cash working capital items
March 31, 2012:
 Working Capital of $9.64 million
 Assets of $41.84 million
 Shareholders Equity $23.98 million
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15.  Expand effective capacity per drill and increase drill utilization
 Increase profit margins
 Retain skilled workers and enforce high safety standards
 Increase community training programs
 Enforce higher environmental standards
Achievements to Date
 Increased overall revenue by 50%
 Increased international revenues by 65%
 59% of drills turning on gold projects
 Strengthened the Company’s client base with long term and
multi drill contracts
 Continued to strengthen the
Company’s safety first culture
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16.  Cabo Drilling is in a position to move forward despite the stressed
global financial and economic environment
 High capital expenditures, in fiscal 2006-2008 and 2011, have
positioned Cabo for the projected growth of the mining markets in
2012 - 2013
 Offering a variety of drilling services – including deep hole,
conventional surface, helicopter support and underground drilling.
Cabo is equipped to provide drilling services to its customers in its
global areas, regardless of location, terrain, geology, depth to target or
environmental considerations
 Cabo can easily “migrate” to meet market demands and needs and has
the ability and expertise to shift equipment and personnel to match
changing market conditions
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17. “Raving Fans”
 Raving Fans is an initiative to deliver consistent high-quality services
based on customers’ needs
 Cabo is committed to building relationships with its customers –
discovering how we can meet and exceed our customers’ requirements
for each drill project
“Human Resources”
 Employee Relations Strategies
 Retention Strategies
 Training! Training! Training!
 Tapping the International Talent Pool
 Health and Safety Plans
 Fitness for Work Program
Retaining qualified staff enables Cabo to provide the results its customers
demand and deserve
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18. “Safety”
 Cabo is committed to protect human health, employee safety and the
natural environment and to be looked upon as a responsible contractor
and good neighbour
 Cabo is committed to keeping safety front and center through
education, engineering and enforcement of best practices
 Cabo provides all employees with extensive safety training prior to
starting any job and follows up with weekly safety meetings
 Cabo’s comprehensive approach towards safety and health on the job
has resulted in a continued improvement in its safety performance
Injury Frequency
Freq (Per 200,000 man-hours)
25.00
20.00
15.00
10.00
5.00
0.00
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Total Medical Aid Frequency Lost Time Injury Frequency Linear (Total Medical Aid Frequency)
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19.  Cabo is committed to a culture of sensitivity and responsibility
to the communities in which we work
 Cabo’s goal is to partner with our clients and the community,
and to participate within the community and encourage the
community to participate with the Company in our drilling
programs, whereby we will:
 Hire local helpers and provide training and skills
development opportunities
 Allocate available jobs throughout the community and
provide mentoring
 Provide sensitivity training to
foreigners in regard to local
customs and values
 Utilize local services and suppliers
 Donate to local relief efforts and
support disaster planning
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20.  To be the first choice for mineral exploration, mining &
geotechnical customers by offering the best value in the
drilling services industry
 To be the first choice among employees by offering the most
stable, safe and rewarding workplace in the drilling services
industry
 To be the first choice for investors
by consistently generating superior
value and providing excellent
corporate governance to
shareholders and stakeholders
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21. Relative Size of Contract Drillers
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22.  Expanding global market presence
 Long-term growth in the mineral drilling services
sector through exposure to mid-tier and major mining
and exploration companies
 Revolutionary approach to customer service
 Improved operational efficiencies
 Increased capacity per drill
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23. TSX-V: CBE 23