ORBIT GAR ANT DRILLING INC. NOTES TO THE UNA UDITED PRO FORMA CONSOLID A TED ST A TEMENT OF EARNINGS AND COMPREHENSIVE INCOME 1. BASIS OF PRESENT A TION The pro forma consolidated statement of earnings and comprehensive income gives effect to adjustments necessary to appropriatel y reflect Orbit Garant Drilling Inc. (the ‘‘company’’) statement of earnings on a pro forma basis. Such adjustments are described more fully further in the notes to the company’s pro forma consolidated statement of earnings and comprehensive income. This pro for ma consolidated statement of earnings and comprehensive income has been prepared for inclusion in the Offering and is not for any other purpose and should be read in conjunction with the description of the acquisitions described in Note 2, as well as the details of the Offering itself included in the Offering prospectus. The pro forma consolidated statement of earnings and comprehensive income has been prepared by the management of the company, in accordance with Canadian generally accepted accounting principles. The underlying assumptions for pro forma adjustments prov ide a reasonable basis for presenting the significant financial results attributable to the acquisitions described in Note 2 and in n otes to the pro forma consolidated statement earnings and comprehensive income; however, the pro forma statement of earnings and comprehensive income is not necessarily indicative of the results that actually would have been achieved if the transactions re flected therein had been completed on the dates indicated or the results which may be obtained in the future. In the opinion of managem ent, this unaudited pro forma consolidated statement of earnings and comprehensive income includes all material adjustments necessar y for fair presentation. The accounting policies used in this unaudited pro forma statement of earnings and comprehensive income are consistent with those used in the consolidated financial statements of Orbit Garant Drilling Inc. F or the purposes of the pro forma statement of earnings and comprehensive income for the 12 months ended June 30, 2007, the acquisitions (see Note 2) have been assumed to occur on July 1, 2006. The pro forma financial information should be read in conjunction with the following financial statements included elsewhere in the Offering prospectus:  the audited consolidated financial statements of Orbit Garant Drilling Inc. for the 9 months ended June 30, 2007;  the audited financial statements of F orages Garant & F r ` eres Inc. for the 3 months ended September 30, 2006;  the audited financial statements of F orage Orbit Inc. for the year ended January 31, 2007. 2. BUSINES S ACQUISITIONS F orages Garant & F r ` eres Inc. (‘‘Garant’’) On September 30, 2006, pursuant to a share agreement between 4382463 Canada Inc. and the shareholders of F orages Garant & Fr ` eres Inc., 4382463 Canada Inc. acquired all issued and outstanding shares of F orages Garant & F r ` eres Inc. for a total consideration of $17,530,771 (excluding acquisition costs) payable through the issuance of 2,500,000 common shares of 4382463 Canada Inc. and $15,030,771 in cash. On September 30, 2006, F orages Garant & F r ` eres Inc. was dissolved in 4382463 Canada Inc. which changed its name to F orages Garant & F r ` eres Inc. F orage Orbit Inc. (‘‘Orbit’’) On January 31, 2007, pursuant to a share agreement between the company and the shareholders of F orage Orbit Inc. (‘‘Orbit’’), t he company acquired all issued and outstanding shares of Orbit for a total consideration of $24,031,195 (excluding acquisition cos ts) payable through the issuance of 11,538,000 common shares of the company and $12,493,195 in cash. Phyl-Don Holdings and Management Ltd., Drift Exploration Drilling Inc. (US) and Drift de Mexico S.A. De C.V. (‘‘Drift’’) On April 16, 2007, the company acquired all issued and outstanding shares of Drift Exploration Drilling Inc. (a US company) and Drift de Mexico S.A. De C.V . for a total cash consideration of $140,713 (excluding acquisition costs) and all operating inventories a nd capital assets of Phyl-Don Holdings and Management Ltd. for a cash consideration of $1,460,000. This acquisition does not meet the defi nition of a significant acquisition as defined in Canadian Securities L aw. 3. PRO FORMA ADJUSTMENTS The pro forma statement of earnings and comprehensive income for the 12 months ended June 30, 2007 reflects the pro forma adjustment of $1,557,065 required to present 12 months of amortization expense relating to the acquired intangible assets of Ga rant and Orbit (see Note 2). The corresponding adjustment to future income taxes amounts to $489,386. The pro forma statement of earnings and comprehensive income for the 12 months ended June 30, 2007 does not give effect to the reduction of interest expense on long-term debt relating to the use of a part of the net proceeds of the offering to repay debt . F-57