Particle Drilling Technologies, Inc. to Begin
Trading on NASDAQ
HOUSTON, June 24 /PRNewswire-FirstCall/ -- Particle
Drilling Technologies, Inc. (OTC Bulletin Board: PDRT -
"PDTI") today announced that its application for listing of
its common stock on the NASDAQ SmallCap Market, a leading
nationally recognized electronic stock market, has been
approved. In conjunction with this approval, the Company's
common stock is expected to begin trading under the symbol
"PDRT" effective on Tuesday, June 28, 2005.
"We are excited about the enhanced visibility associated
with trading on the NASDAQ stock market," stated John
Schiller, the Company's Chief Executive Officer. "We believe
that this move will provide greater liquidity and improved
pricing efficiencies for our stockholders, as well as provide
greater access to the capital markets when the Company is
ready to expand its business."
Particle Drilling Technologies, Inc., headquartered in
Houston, Texas, is a development stage oilfield service and
technology company owning certain patents and pending patents
related to the Particle Impact Drilling technology. The
Company's technology is designed to enhance the rate-of-
penetration function in the drilling process, particularly in
hard rock drilling environments.
Certain statements in this press release that are not
historical but are forward-looking are subject to known and
unknown risks and uncertainties, which may cause PDTI's actual
results in future periods to be materially different from any
future performance that may be suggested in this press
release. Such risks and uncertainties may include, but are not
limited to, PDTI's ability to raise equity capital, if
necessary, and its ability to obtain equity financing on
acceptable terms, if at all, a severe worldwide slowdown in
the energy services sector and working capital constraints.
Further, PDTI is a development stage company that operates in
an industry sector where securities values are highly volatile
and may be influenced by economic and other factors beyond
PDTI's control such as announcements by competitors and
service providers.
Contacts: J. Chris Boswell, SVP &
CFO, Particle Drilling Technologies, Inc., 713-223-3031 ext.
204. Ken Dennard, Managing Partner, Jack Lascar, Partner,
DRG&E / 713-529-6600
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