JULY 22, 2003 – SAN ANTONIO, TEXAS – Pioneer Drilling Company (AMEX: PDC) will release first quarter results for the fiscal year ending March 31, 2004, on Thursday August 7, 2003 at 6:00 a.m. eastern time.

In conjunction with the release, Pioneer Drilling has scheduled a conference call, which will be broadcast live over the Internet, on Thursday August 7, 2003 at 11:00 a.m. eastern time (10:00 a.m. central).

What: Pioneer Drilling Fiscal First Quarter 2004 Conference Call

When: Thursday, August 7, 2003 - 11:00 a.m. eastern time

How: Live via phone - By dialing (303) 262-2140 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 August 14, 2003, and may be accessed by calling (303) 590-3000 using pass code 546043. Also, an archive of the webcast will be available shortly after the call on www.pioneerdrlg.com. For more information, please contact Karen Roan at DRG&E at 713-529-6600 or email kroan@drg-e.com.

Pioneer Drilling Company provides contract land drilling services to independent and major oil and gas operators drilling wells in central, south and east Texas. The Company’s fleet currently consists of 25 land drilling rigs that drill in depth ranges between 10,000-18,000 feet, with an additional Cabot 1200 rig expected to be delivered in August of 2003.

CONTACT:

Wm. Stacy Locke, President & CFO

Pioneer Drilling Company

(210) 828-7689

Ken Dennard / kdennard@drg-e.com

Lisa Elliott / lelliott@drg-e.com

DRG &E

(713) 529-6600