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.
February 28, 2012
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3. Focused on Delivering the Best Value for all our Clients in:
North America, Central America and Europe
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4. CABO DRILLING CORP.
Acquired five drilling services companies in 2004 and 2005
Achieved year-over-year revenue growth to 2008 of C$58.64 million
Fiscal years 2009 and 2010 revenues decreased to C$41.16 million
and $28.99 million respectively
 2011 revenues increased 50% from 2010
to $43.42 million
 2012 revenues targeted to be $52 million
100+ Drill Rigs
500+ Employees
C$22.8 Million
Shareholders’ Equity
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5. Symbol: CBE - TSX-V
DHL - FWB
Price: $0.14
Week High / Low: $0.23 - $0.07
Market Cap: $10,654,644
Shares Outstanding: 76,104,600
Fully Diluted: 90,569,430
February 28, 2011 – February 28, 2012
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6. CANADA
ALBANIA
USA
TURKEY
PANAMA COLOMBIA
Cabo’s clients include:
Kirkland Lake Gold Inc. Minera Panama SA (Inmet Mining)
Galway Resources Ltd. Armistice Resources Corp.
Queenston Mining Inc. Goldcorp Inc.
Century Iron Ore Mining Corp. Labrador Iron Mines Limited
Teck Resources Limited
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7. 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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8. GLOBAL MINING INDUSTRY IS FACING A MAJOR
SUPPLY/DEMAND IMBALANCE FOR PRECIOUS & BASE METALS
 Rising commodity prices continue in 2012 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
 In 2012 drilling budgets, particularly for programs in Canada, United States and Latin
America, are expected to increase beyond the 2011 levels for brownfield gold, copper,
silver and iron ore projects
 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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9. Fiscal Year 2011 2011
Fiscal Year
Undergro
und Geotechn
15% ical
Drills: 4%
Surface
84%
27 Conventional Surface
15 Deep Hole Surface
18 Helicopter Support
3 Man Portable Other
Fiscal Year 2011
Canada &
Foreign United
6 Reverse Circulation Countries States
24% 76%
27 Underground
6 Geotechnical
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10. (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
C$ millions 58.65 Revenue
41.16 43.42
28.99 31.29*
FY2008 FY2009 FY2010 FY2011 FY2012
*FY2012 – For the six month period ended Dec 31
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11.  Capital expenditures are controlled
 Stable working capital
 Debt rationalization is a priority
 Implementing new field cost control systems
 Negotiating new bank credit facilities
Working Capital
C$ millions
8.86*
8.14
7.28
5.74
4.59
FY2008 FY2009 FY2010 FY2011 FY2012
*FY2012 – For the six month period ended Dec 31
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12. (CDN $000s) Dec 31, 2011
Cash & cash equivalents $ 815
Current assets $ 25,337
Non-current assets $ 15,575
Total assets $ 41,727
Current liabilities (including current portion of long-term debt) $ 17,298
Long-term debt $ 1,165
Future income tax $ 436
Equity $ 22,828
Total equity and liabilities $ 41,727
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13. (CDN $000s except earnings per share) 1st QTR 2012 2nd QTR 2012
Ended Ended
Sep 30, 2011 Dec 31, 2011
Revenue $ 16,929 $ 14,363
EBITDA as a % of gross revenue 18.04 10.23
EBITDA per Share (Basic)* $ 0.04 $ 0.02
Earnings before Taxes $ 1,520 $ 637
Earnings per Share (Basic) $ 0.02 $ 0.01
Cash from Operations** $ 1,471 $ 1,104
Gross Margin % 24.6 24.1
*Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA)
**Before changes in non-cash working capital items
December 31, 2011:
Working Capital of $8.86 million
Assets of $41.73 million
Shareholders Equity $22.83 million
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14.  Debt reduction
 Expand effective capacity per drill and increase drill utilization
 Increase profit margins
 Retain skilled workers and enforce high safety 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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15.  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
 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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16. “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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17.  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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18. Relative Size of Contract Drillers
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19.  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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20. TSX-V: CBE
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