ORBIT GAR ANT DRILLING INC. CONSOLID A TED BALANCE SHEET March 31, June 30, 2008 2007 (unaudited) $$ AS SETS CURRENT A SSETS Cash ...................................................... 788,082 — Cash — in trust .............................................. — 188,556 A ccounts receivable ........................................... 18,961,715 12,510,821 Inventories ................................................. 17,376,352 10,518,346 P repaid expenses ............................................. 654,656 249,402 37,780,805 23,467,125 LONG- TERM INVESTMENTS (Note 5) ............................. 740,158 402,116 CAPIT AL A SSETS (Note 6) ...................................... 20,225,622 18,612,212 GOOD WILL (Note 7) ........................................... 18,572,965 17,422,044 INT ANGIBLE A SSETS (Note 7) ................................... 9,228,564 12,245,065 86,548,114 72,148,562 LIABILITIES CURRENT LIABILITIES Bank overdraft (Note 8) ........................................ 488,422 1,494,525 Bank loan (Note 8) ........................................... 6,700,000 1,500,000 A ccounts payable and accrued liabilities ............................ 12,715,949 7,228,104 Client deposits ............................................... 988,151 469,355 Earn-out payable, non-interest bearing ............................. 1,125,000 2,000,000 A dvances from shareholders, non-interest bearing, no specific term of repayment ................................................ 965,632 631,198 Income taxes payable .......................................... 1,163,285 2,049,122 Current portion of long-term debt (Note 9) .......................... 4,593,114 3,596,702 Current portion of obligations under capital leases (Note 10) ............. 38,873 — 28,778,426 18,969,006 LONG- TERM DEBT (Note 9) .................................... 19,176,757 20,877,193 OBLIG A TIONS UNDER CAPIT AL LEA SES (Note 10) ................. 195,118 — FUTURE INCOME T A XES (Note 12) .............................. 4,914,772 6,707,193 53,065,073 46,553,392 COMMITMENTS (Note 3 and 14) SHAREHOLDERS’ EQUITY Share capital (Note 11) .......................................... 23,791,436 23,726,436 R etained earnings .............................................. 9,726,129 1,899,093 A ccumulated other comprehensive loss ............................... (34,524) (30,359) 9,691,605 1,868,734 33,483,041 25,595,170 86,548,114 72,148,562 APPRO VED B Y THE BO ARD (Signed) E RIC A LEXANDRE (Signed) J AMES C. J OHNSON Director Director F-8