MAY 26, 2004 – SAN ANTONIO, TEXAS – Pioneer Drilling Company (AMEX: PDC) announced today that it intends to release the financial results for its fiscal fourth quarter and year ended March 31, 2004 on Monday, June 21, 2004 at 6:00 a.m. eastern time. Pioneer Drilling selected that date for the release of those financial results to accommodate Pioneer Drilling’s schedule for completing its response to SEC comments relating to a registration statement it filed with the SEC in late February. In conjunction with the upcoming release, Pioneer Drilling has scheduled a conference call, which will be broadcast live over the Internet, on Monday, June 21, 2004 at 11:00 a.m. eastern time (10:00 a.m. central).

What: Pioneer Drilling’s Fiscal Fourth Quarter 2004 Conference Call

When: Monday, June 21, 2004 - 11:00 a.m. eastern time

How: Live via phone - By dialing (303) 262-2141 and asking for the Pioneer Drilling call 10 minutes prior to the start time. Or live over the Internet by logging on to the web address below.

Where: http://www.pioneerdrlg.com

For those who cannot listen to the live call, a replay will be available through June 28, 2004, and may be accessed by calling (303) 590-3000 using pass code 580828. Also, an archive of the webcast will be available shortly after the call on www.pioneerdrlg.com. For more information, please contact Donna Washburn at DRG&E at 713-529-6600 or email dmw@drg-e.com.

Pioneer Drilling Company provides land contract drilling services to independent and major oil and gas operators drilling wells in North, East and South Texas and North Louisiana. Pioneer’s fleet consists of 36 land drilling rigs that drill in depth ranges between 8,000-18,000 feet.

CONTACTS:

Ken Dennard / ksdennard@drg-e.com

Wm. Stacy Locke, President & CEO Lisa Elliott / lelliott@drg-e.com

Pioneer Drilling Company DRG &E
(210) 828-7689 (713) 529-6600