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• The Company has agreed in principal to a new credit facility led by Wells Fargo Energy. It will be structured as a three year revolving facility with $150 million in capacity and a $25 million accordion feature. It is expected to close by December of 2013.

• During the third quarter, the Company modified the classification of the Non-Controlled Interest ("NCI") in the Saudi Arabian joint venture. It was determined after review of the accounting standard that the Company should re-classify the NCI from equity to liability. This is based on the requirement to account for the fair value of the put option held by the Saudi Arabia joint venture partner as per the shareholder agreement dated March 12, 2010. As a result, the Company reflected the liability effective January 1, 2012, restating the previous periods in the third quarter financials. At September 30, 2013, the liability of the option is approximately $11.9 million.

Selected Quarterly Financial Information (unaudited)

Excerpt from Management's Discussion and Analysis

For the three and nine months ended September 30, 2013

Outlook

Xtreme has made significant progress over the course of 2013. The Company significantly improved financial performance as Adjusted EBITDA margins have increased to 32%, from 22% in 2012, and net debt levels have decreased by $31.6 million, to $110.3 million, from December 31, 2012. Additionally, the Company has established a consistent operating history as the longest reach coil provider in the Eagle Ford, with a fourth new build unit preparing to begin operations. As the Company moves into 2014 management is committed to continue the momentum of 2013 and focus on increasing shareholder value.

In the third quarter, the drilling services segment was negatively impacted in the United States by substantial rain and flooding in Colorado. The Company had nine XDR rigs operating in Colorado for September. During the quarter, repair and maintenance expenses were up by $950 per operating day, or $1.4 million, due to the associated equipment failures, additional maintenance on a previously stacked rig and modifications to a XDR 300 rig that switched customers. These expenses along with increased inventory consumption decreased operating margin in the US by $1.6 million as compared to the second quarter. The Company believes that the majority of the weather related costs occurred in the third quarter and operating expenses should trend lower toward historical averages in the fourth quarter.

All 18 US XDR rigs are currently contracted and the Company estimates that utilization in the US drilling division will be in the 92% to 95% range for the fourth quarter, slightly better than the 91% in the third quarter. Including the three Canadian XDR rigs the drilling segment achieved an 89% utilization rate in the third quarter. Based on current activity levels utilization on the 21 rig XDR fleet should be in the 90% to 93% range for the fourth quarter.

At this time the Company has three XDR 300 and two XDR 500 rigs that come up for renewal in the US within 75 days. Management is currently exploring several opportunities both domestically and internationally for the two XDR 300 rigs that roll off contract. One of the most appealing is the emerging Las Animas play in Eastern Colorado. Currently, the Company has one rig deployed in this play with the potential for additional rigs in the future. The XDR 300 rigs are unique options in the depth category of this play. Typically rigs in the 8,000 to 12,000 foot total measured depth category are inefficient legacy rigs. It is rare for an operator to have an option for a rig with the combination of AC technology, top drive, high horse-power mud pumps and a skidding system all in a rig that moves in minimal loads. The prospects remain good for the XDR 500 series rigs as they come off of contract in the Bakken and Niobrara. For 2014, Xtreme expects to have approximately 3,300 operating days under term contracts.

The coil services segment had another strong quarter. Operating margins were up by almost $1.3 million from the second quarter. This is based on improvement of performance and pricing. The coil services segment had record revenue of $16.1 million or 27% of total Company revenue for the third quarter.

In the US XSR division operating margin increased by 44% from the previous quarter on 45 additional operating days. Fourth quarter activity levels have been strong which is encouraging as this period is typically less active. Customer acceptance has dramatically increased over the course of 2013. In 2014 there is the potential for term contracts in the US business which should improve revenue transparency in a business that historically has operated from job to job.

Conference Call Details

The Company will conduct a conference call on Wednesday, November 6 at 9:00 am MST, 10:00 am CT. Tom Wood, Chief Executive Officer, will host the conference call with participation from Matt Porter, Chief Financial Officer, and will answer questions from analysts and investors.

To participate in the conference call, please dial in as follows approximately ten minutes before the start time in your time zone, or click on the webcast link below.

An audio replay of the call will be available until Tuesday, November 13, 2013. To access the replay, call +1 800‐408‐3053 or +1 905‐694‐9451 and enter pass code 4828220.

Reader Advisory

This news release, or documents incorporated herein, contains forward-looking statements ("FLS"). More particularly, this news release contains statements that may relate to contracting, marketing, financing, construction, modifications, deployment, operation, utilization of drilling rigs in the Company's current and future fleet, and any potential outcome relating to claims and litigation. Further, the FLS herein may relate to trade credit insurance carried by the Company to mitigate receivables collection risk. Although Xtreme believes expectations reflected in these FLS are reasonable, readers should not place undue reliance on them because Xtreme can give no assurance they will prove to be correct. There are many factors that could cause FLS not to be correct, including risks and uncertainties inherent in the Company's business.

These statements are based on certain factors and assumptions including, but not limited to: the assessment of current and projected future operations; ongoing and future strategic business alliances, negotiations and opportunities to enter new, extend or complete existing contracts; the availability and cost of financing; foreign currency exchange rates; timing and magnitude of capital expenditures; expenses and other variables affecting rig operation, modification and construction; the ability and commitment of vendors to provide rig component equipment, services and supplies, including labor, in a cost-effective and timely manner; the issuance of applied-for patents; changes in tax rates; and government regulations. Although Xtreme considers the assumptions used to prepare this news release reasonable, based on information available to management as of November 5, 2013, ultimately the assumptions may prove to be incorrect.

Forward-looking statements are also subject to certain factors, including risks and uncertainties, which could cause actual results to differ materially from management's current expectations. These factors include, but are not limited to: the cyclical nature of drilling market demand, foreign currency exchange rates, and commodity prices; access to credit and to equity markets; the availability of qualified personnel; vendor-provided rig components; and, competition for customers.

Management's assumptions considered the following: compliance with the terms of the Company's current and proposed new credit facility; ongoing access to key supplies and components required to continue operating and maintaining equipment, including fuel; continued successful performance of drilling and related equipment; expectations regarding gross margin; recruitment and retention of qualified personnel; continuation or extension of existing long-term or multi-well contracts; revenue expectations related to shorter-term drilling opportunities; willingness and ability of customers to remit amounts owing to Xtreme in accordance with normal industry practices; and management of accounts receivable in direct relation to revenue generation.

Financial outlook information contained in this news release about prospective results of operations, financial position or cash provided by operating activities is based on assumptions about future events, including economic conditions and proposed courses of action, and on management's assessment of relevant information currently available. Readers are cautioned such financial outlook information contained in this news release is not appropriate for purposes other than for which it is disclosed here. Readers should not place undue importance on FLS and should not rely on this information as of any other date. Except as required pursuant to applicable securities laws, Xtreme disclaims any intention, and assumes no obligation, to update publicly or revise FLS to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such FLS or otherwise.

About Xtreme Drilling and Coil Services

Xtreme Drilling and Coil Services Corp. ("XDC" on the Toronto Stock Exchange) designs, builds, and operates a fleet of high specification drilling rigs and coiled tubing well service units featuring leading-edge proprietary technology including AC high capacity coil injectors, deep re-entry drilling capability, modular transportation systems and continuous integration of in-house advances in methodologies.

Currently Xtreme operates two service lines: Drilling Services and Coil Services under contracts with oil and natural gas exploration and production companies and integrated oilfield service providers in Canada, the United States and Saudi Arabia. For more information about the Company, please visit www.xtremecoil.com.