Precision Drilling Corporation Selects OpenPages SOX Express for Sarbanes-Oxley Compliance

January 11, 2004

Waltham, Mass. - January 11, 2004 - OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that Precision Drilling Corporation (TSX: PD and PD.U; NYSE: PDS), has selected OpenPages Sarbanes-Oxley Express (SOX Express) for its Section 302 and 404 compliance initiatives.

Precision Drilling Corporation (“Precision”) is a global oilfield services company providing a broad range of drilling, production and evaluation services with focus on fulfilling customer needs through fit-for-purpose technologies for the maturing oilfields of the 21st century. With corporate offices in Calgary, Alberta, Canada and corporate subsidiary offices in Houston, Texas, and research facilities in the U.S. and Europe, Precision employs more than 10,000 people conducting operations in more than 30 countries.

Precision will deploy SOX Express to streamline its internal control documentation. It will enable the collection of information regarding ongoing business controls deployment and monitoring, resulting in a reduction of compliance costs. By combining a strong document repository with powerful compliance automation capabilities, SOX Express will facilitate both project management and compliance, using web-based tools to get users up to speed quickly.

OpenPages’ SOX Express is an enterprise compliance management solution that reduces the time and resource costs associated with ongoing compliance for Sections 302 and 404. SOX Express is a focused enterprise application that combines powerful document and business process management with flexible reporting capabilities in an extremely easy-to-use environment that enables CEOs, CFOs and financial management officers to monitor adherence to internal controls. SOX Express helps corporations automate significant aspects of their internal controls framework to significantly reduce the overall cost of compliance. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls of the company, and eventually to attest to the financial statements.

About OpenPages

OpenPages® is the leading provider of enterprise risk management solutions that optimize business performance. OpenPages empowers the world’s largest companies by unifying governance, risk and compliance across the enterprise and by incorporating risk management into day-to-day business processes. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.

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