PARTICLE DRILLING TECHNOLOGIES ANNOUNCES RESIGNIGNATION OF SENIOR VICE PRESIDENT
Houston - January 21, 2009 Particle Drilling Technologies, Inc. (NASDAQ: PDRT) (the
"Company") today announced that Thomas E. Hardisty, Senior Vice President, Corporate
Development, has resigned from the Company. The effective date of his resignation will be
January 23, 2009. Mr. Hardisty will be joining Kerogen Resources, Inc. ("Kerogen") as its Vice
President of Business Development & Land. Kerogen, headquartered in Houston, Texas, is a
privately held energy company.
"We would like to thank Tommy for his years of service and many contributions to our
organization," said Jim B. Terry, President and Chief Executive Officer. "A majority of
Tommy's professional background is in the exploration and development side of the energy
business, thus his new role is a natural transition. We wish him all the best in his new position."
As part of an ongoing effort to reduce costs and to focus Company resources on the technical
side of the business, the Company does not plan to fill his position at this time.
About Particle Drilling Technologies, Inc. Particle Drilling Technologies, Inc. (NASDAQ: PDRT) is a development-stage oilfield service and technology company commercializing its patented and patent-pending Particle Impact Drilling system. The company's technology is designed to enhance the rate-of-penetration function in the drilling process, particularly in hard-rock environments. It is headquartered in Houston, Texas. For more information, visit: www.particledrilling.com.
Safe Harbor Statement
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 need to raise equity capital and its ability to obtain equity financing on acceptable terms, if at all, a severe worldwide slowdown in the energy services sector, working capital constraints and the ability of PDTI to successfully complete any strategic alternative. 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. B. Terry, President & CEO
Particle Drilling Technologies, Inc.
713-223-3031
Jack Lascar / Sheila Stuewe
DRG&E / 713-529-6600
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