CABO DRILLING CORP. CORPORATE PRESENTATION

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Certain information set forth in this presentation contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Such forward-looking information and statements are based on current expectations, estimates and projections about global and regional economic conditions as well as industries that are major markets for Cabo Drilling Corp. The Company does not guarantee that any of the forward looking statements will materialize and accordingly the reader is cautioned not to place reliance on these forward-looking statements.

Feb 27, 2013

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Focused on Delivering the Best Value for all our Clients in: North America, Central America and Europe

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Board of Directors John A. Versfelt, Chairman, President, Chief Executive Officer & Director Mr. Versfelt has over 30 years experience providing leadership, management consulting, chief financial office, administration and paralegal/regulatory services to private and public companies. Serving in a variety of roles as a Managing Director, Chief Executive Officer and Chief Financial Officer over the last 25 years, he has been responsible for strategic planning, corporate development and finance, administration and accounting, and legal and regulatory compliance. Terry Aimone, BSc. P.Eng., General Manager, Europe Operations & Director Mr. Aimone started his career as a mining consulting engineer followed by 17 years in the U.S. banking sector, working in mine project financing. He has extensive experience in the mineral drilling industry as the current General Manager, Europe Operations, the former General Manager, Mexico Operations and past managing director of Heath & Sherwood Drilling. He brings a strong mix of technical, financial and management expertise to the Company. Peter Freeman, Director Mr. Freeman has extensive experience in public markets, finance and compliance. His experience includes six years as Director of Markets and Compliance at the OFEX Market (now PLUS). In 2005, he joined Loeb Aron & Co as a director and head of compliance and advisory services for their London, England, based, mining corporate finance house. Mr. Freeman has been a director of two public companies admitted to the AIM market (OFEX Holdings plc and Capital Lease Aviation plc). Roy Graydon, Director Mr. Graydon has extensive experience as both a public company and private company CEO and CFO, and with corporate governance, investing in public and private equity markets, and mergers and acquisitions. Mr. Graydon, who lives near Toronto, Ontario, was formerly President, CEO and director of Aeroquest International Limited and in the past has also served on the boards of Canadian public companies Patheon Inc., Call-Net Enterprises Inc., Cybersurf Corp., and International Comfort Products Corporation. Tom Oliver, Director After a 25 year career in real estate development, primarily in the Vancouver, BC area, Mr. Oliver served as Business Administrator for a national church organization for 5 years. He is currently the CEO of a number of private corporations and, in addition, acts as a consultant in financial administration and management. Robert W. Schellenberg, CPA, Director Mr. Schellenberg is a Certified Public Accountant, Vice President and owner of Schellenberg & Evers, P.C. in Grand Rapids, Michigan. He has extensive experience in valuations, employee benefit plans, financial planning, individual and corporate taxation and litigation support, business planning, performance measures, mergers, acquisitions and arbitration.

100+ Drill Rigs 500+ Employees C$24.0 Million Shareholders’ Equity

CABO DRILLING CORP. Acquired five drilling services companies in 2004 and 2005 Revenue bottomed in 2010 at $28.99 million after reaching a record $58.65 million in 2008 2011 revenues increased 50% from 2010 to $43.42 million 2012 revenues increased 36% from 2011 and exceeded 2008’s record revenue of $58.65 million

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28.79 38.45

58.65

41.16

28.99

43.42

58.95

2006 2007 2008 2009 2010 2011 2012

Revenue C$ millions

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Symbol: CBE - TSX-V DHL - FWB Price: $0.075 Week High / Low $0.18 - $0.06

Market Cap: $5,922,613 Shares Outstanding: 78,968,175 Fully Diluted: 92,348,250

Insider Holdings: President & CEO 5.43% Directors & Senior Management 4.21%

February 28, 2012 – February 28, 2013

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Cabo’s clients include:

Kirkland Lake Gold Inc. Galway Resources Ltd. Queenston Mining Inc. Century Iron Ore Mining Corp. Teck Resources Limited

Minera Panama SA (Inmet Mining) Cliffs Natural Resources Inc. Goldcorp Inc. Labrador Iron Mines Limited Aux Colombia Limitada

CANADA

USA

PANAMA COLOMBIA

ALBANIA

TURKEY

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INDUSTRY FUNDAMENTALS Base & precious metals have experienced record pricing growth over the past 4 years

Exploration budgets have risen significantly over the last two years. We anticipate that 2013 will stay on course

Source: MEG

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GLOBAL MINING INDUSTRY IS FACING A MAJOR SUPPLY/DEMAND IMBALANCE FOR PRECIOUS & BASE METALS In the longer-term the fundamental drivers of the

exploration and mining business remain positive, with worldwide supply for most metals expected to tighten and higher demand coming from the emergence of the BRIC countries over the last 10 years

The pressure is high for more advanced exploration programs to be developed as fast as possible to take advantage of the higher commodity prices, driven by depleting reserves, lower global inventories and improving demand

Cabo Drilling has all of its fleet located in Canada, United States, Europe and Latin America where over 50% of worldwide exploration activity is taking place, therefore Cabo is well positioned for growth in worldwide demand for drilling services

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Drills:

27 Conventional Surface

15 Deep Hole Surface

18 Helicopter Support

3 Man Portable

6 Reverse Circulation

27 Underground

6 Geotechnical

Surface 76%

Underground 15% Geotechnical

2%

Revenue

Reverse Circulation 9%

Canada & United States 69%

Other Foreign

Countries 31%

Fiscal Year 2012 Revenue

Fiscal Year 2011 Fiscal Year 2012

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(CDN $000s except earnings per share) FY2009 FY2010 FY2011 FY2012

EBITDA per Share (Basic)* $ 0.08 $ 0.03 $ 0.04 $ 0.09

Earnings (Loss) per Share (Basic) $ (0.02) $ (0.03) $ (0.01) $ 0.02

Cash from Operations** $ 2,060 $ 1,057 $ 1,402 $ 3,722

Gross Margin % Adjusted*** 26.7 25.3 22.3 22.7

*Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA) **Before changes in non-cash working capital items *** Gross margin adjusted to exclude amortization

FY2008 FY2009 FY2010 FY2011 FY2012

58.65 Revenue C$ millions

41.16

28.99

43.42

58.95

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Capital expenditures are controlled Stable working capital Continuing to implement field cost control systems Secure further new credit facilities for growth

FY2008 FY2009 FY2010 FY2011 FY2012

7.28 4.59 5.74

8.14

12.72 C$ millions

Working Capital

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(CDN $000s) Dec 31, 2012

Cash & cash equivalents $ 1,476

Current assets $ 22,150

Non-current assets $ 15,187

Total assets $ 38,813

Current liabilities (including current portion of long-term debt) $ 10,055

Long-term debt $ 4,537

Future income tax $ 363

Equity $ 23,858

Total equity and liabilities $ 38,813

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(CDN $000s except earnings per share) 1st QTR 2013 Ended

Sep 30, 2012

2nd QTR 2013 Ended

Dec 31, 2012

Revenue $ 13,843 $ 9,161

EBITDA as a % of gross revenue 13.2% 6.8%

EBITDA per Share (Basic)* $ 0.02 $ 0.01

Earnings after Taxes $ 560 $ (435)

Earnings per Share (Basic) $ 0.01 $ (0.01)

Cash from Operations** $ 1,354 $ 331

Gross Margin %*** 26.0% 25.8%

Dec 31, 2012: Working Capital of $13.57 million Assets of $38.81 million Shareholders Equity $23.86 million

*Net Earnings before interest, tax, amortization, stock based compensation and other items (EBITDA) **Before changes in non-cash working capital items ***Gross margin adjusted to exclude amortization expense

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Expand effective capacity per drill and increase drill utilization Establish and maintain long term relationships with our clients Build and maintain a highly cost effective organization Retain skilled workers and enforce high safety standards Increase community training programs and expand community

relationships Enforce higher environmental standards

Achievements 2012

Increased overall revenue by 36% Increased international revenues by 93% 60% of drills turning on gold projects Strengthened the Company’s client base with long term and multi drill contracts Reorganized debt & improved balance sheet

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Cabo Drilling is in a position to move forward despite the stressed global financial and economic environment

High capital expenditures in fiscal 2006-2008 and 2011 have positioned Cabo for the projected growth of the mining markets in 2013

Offering a variety of drilling services – including deep hole, conventional surface, helicopter support and underground drilling. Cabo is equipped to provide drilling services to its customers in its global areas, regardless of location, terrain, geology, depth to target or environmental considerations

Cabo can easily “migrate” to meet market demands and needs and has the ability and expertise to shift equipment and personnel to match changing market conditions

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“Raving Fans”

Raving Fans is an initiative to deliver consistent high-quality services based on customers’ needs

Cabo is committed to building relationships with its customers – discovering how we can meet and exceed our customers’ requirements for each drill project

“Human Resources”

Employee Relations Strategies Retention Strategies Training! Training! Training! Tapping the International Talent Pool Health and Safety Plans Fitness for Work Program

Retaining qualified staff enables Cabo to provide the results its customers demand and deserve

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“Safety”

Cabo is committed to protect human health, employee safety and the natural environment and to be looked upon as a responsible contractor and good neighbour

Cabo is committed to keeping safety front and center through education, engineering and enforcement of best practices

Cabo provides all employees with extensive safety training prior to starting any job and follows up with weekly safety meetings

Cabo’s comprehensive approach towards safety and health on the job has resulted in a continued improvement in its safety performance

0.00

5.00

10.00

15.00

20.00

25.00

2012201120102009200820072006200520042003Freq

(Per

200

,000

man

-hou

rs)

Injury Frequency

Total Medical Aid Frequency Lost Time Injury Frequency Linear (Total Medical Aid Frequency)

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Cabo is committed to a culture of sensitivity and responsibility to the communities in which we work

Cabo’s goal is to partner with our clients and the community, and to participate within the community and encourage the community to participate with the Company in our drilling programs, whereby we will: Hire local helpers and provide training and skills

development opportunities Allocate available jobs throughout the community and

provide mentoring Provide sensitivity training to foreigners in regard to local customs and values Utilize local services and suppliers Donate to local relief efforts and support disaster planning

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To be the first choice for mineral exploration, mining & geotechnical customers by offering the best value in the drilling services industry

To be the first choice among employees by offering the most

stable, safe and rewarding workplace in the drilling services industry

To be the first choice for investors by consistently generating superior value and providing excellent corporate governance to shareholders and stakeholders

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Relative Size of Contract Drillers

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Expanding global market presence

Long-term growth in the mineral drilling services sector through exposure to mid-tier and major mining and exploration companies

Revolutionary approach to customer service

Improved operational efficiencies

Increased capacity per drill

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TSX-V: CBE