Particle Drilling Technologies Announces Fourth Fiscal Quarter 2006 Results and Conference Call Schedule

HOUSTON – October 31, 2006 – Particle Drilling Technologies, Inc. (NASDAQ: PDRT) announced today plans to release fourth fiscal quarter 2006 results on Wednesday, November 15, 2006 after the market closes. In conjunction with the release, Particle Drilling Technologies has scheduled a conference call, which will be broadcast live over the Internet on Thursday, November 16, 2006 at 10:00 a.m. eastern time (9:00 a.m. central). The Company plans to provide an operations update and a review of the quarter and year results.

A telephonic replay of the conference call will be available through November 23, 2006 and may be accessed by calling 303-590-3000 and using passcode 11074778. A web cast archive will also be available at /, on the “Investor Relations” section of the Company’s website, shortly after the call and will be accessible for approximately 90 days. For more information, please contact Donna Washburn at DRG&E at 713-529-6600 or email dmw@drg-e.com.

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.