SAN ANTONIO, Texas, February 12, 2008 – Pioneer Drilling Company (AMEX: PDC) announced today that it intends to release financial results for the quarter and nine-month fiscal year ended December 31, 2007, on Wednesday, February 27, 2008 before the market opens. As previously announced, the Company has transitioned to a December 31 fiscal year end; accordingly, the three months ended December 31, 2007, will be reported as the third and final quarter of the fiscal year end December 31, 2007. In conjunction with the upcoming release, Pioneer has scheduled a conference call for February 27 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time).

What: Pioneer’s Quarter Ended 12/31/07 Earnings Conference Call

When: Wednesday, February 27, 2008 – 10:00 a.m. Eastern Time

How: Live via phone by dialing (303) 262-2125 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: www.pioneerdrlg.com

For those who cannot listen to the live call, a replay will be available through Wednesday, March 5, 2008 by calling (303) 590-3000 and using the pass code 11108554#. A replay can also be found in the investor relations section of the Company’s web site at www.pioneerdrlg.com. For more information, please contact Donna Washburn at DRG&E at (713) 529-6600 or email dmw@drg-e.com.

Pioneer provides land contract drilling services to independent and major oil and gas operators drilling wells in Texas, Louisiana, Oklahoma, Kansas and in the Rocky Mountain region and internationally in Colombia. Its fleet consists of 69 land drilling rigs that drill in depth ranges between 6,000 and 18,000 feet. The Company has also announced plans to acquire the well services, wireline services and fishing and rental services, comprised of 60 workover rigs, 45 wireline units and fishing and rental tools, respectively from affiliates of WEDGE Group Incorporated.