Xtreme Drilling Corp. (“Xtreme”, the “Corporation”, “we”, “our” or “us”) invites the holders of its common
shares (the “Shares”) to tender, for purchase and cancellation by the Corporation, up to CDN$25,000,000 in value
of its Shares pursuant to (i) auction tenders in which the tendering holders of Shares (“Shareholders”) specify a
price of not less than CDN$2.40 per Share and not more than CDN$2.80 per Share in increments of CDN$0.05 per
Share (“Auction Tenders”), or (ii) purchase price tenders in which the tendering Shareholders do not specify a
price per Share, but rather agree to have Shares purchased at the Purchase Price (as defined below) that is
determined as provided herein (“Purchase Price Tenders”).

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