Article: Canada: AKITA Drilling Ltd. Announces 2008 Earnings and Funds Flow.

Byline: manish03

CALGARY, March 18 /CNW/ - Earnings for the year ended December 31, 2008

were $14,847,000 or $0.81 per share on revenue of $137,246,000. Comparative

figures for 2007 were $20,752,000 or $1.14 per share on revenue of

$141,962,000. Funds flow from continuing operations for the current year was

$34,149,000 as compared to $37,143,000 in 2007.

The Companys rig utilization in 2008 was 42.2% compared to the industry

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