Cabo Drilling Corp.: Stock Options Granted

Cabo Drilling Corp. (TSX VENTURE:CBE) (FRANKFURT:DHL) ("Cabo Drilling" or the
"Company") announces that it has granted incentive stock options to Company
directors, officers, employees, and consultants, for the right to purchase up to
5,157,500 shares of the Company at $0.10 per share, exercisable to December 31,
2015. The total number of outstanding stock options granted by the Company, at
the date of this news release, is 5,157,500.


About Cabo Drilling Corp. (TSX VENTURE:CBE) 

Cabo Drilling Corp. is a drilling services company headquartered in New
Westminster, British Columbia, Canada. The Company provides mining specialty
drilling services through its Canadian divisions in Surrey, British Columbia;
Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling
(America) Inc. of the United States; Cabo Drilling (Panama) Corp. of Panama,
Republic of Panama; Cabo Drilling (Colombia) Corp. of Colombia; Balkan States
Drilling SH.P.K. of Tirana, Albania; and Cabo Drilling (International) Inc. The
Company's common shares trade on the Frankfurt Exchange under the symbol: DHL
and on the TSX Venture Exchange under the symbol: CBE.


ON BEHALF OF THE BOARD 

John A. Versfelt, Chairman, President and CEO 

Further information about the Company can be found on the Cabo Drilling website
(http://www.cabo.ca) and SEDAR (www.sedar.com). 


The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. This news release may contain forward-looking
statements including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations, potential mineral
recovery processes and other business transactions timing. Forward-looking
statements address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cabo Drilling Corp.
Sheri Barton
Corporate Communications
403-217-5830


Cabo Drilling Corp.
Mr. John A. Versfelt
Chairman, President & CEO
604-527-4201
www.cabo.ca