Stoneham Drilling Trust owns a 99.99% interest in Stoneham Drilling Limited Partnership and holds 100% of the shares of Stoneham Drilling Inc. and 100% of the shares of Stoneham Administration Inc. The remaining 0.01% of the Partnership is owned by Stoneham Drilling Inc. The Partnership is the primary operating entity of the Trust. The board of directors and management of Stoneham Administration Inc. (Adminco) are responsible for the administration and management of the business and affairs of the Trust. The board of directors and management of Stoneham Drilling Inc. (the General Partner) are responsible for the administration and management of the business and affairs of the Partnership.

Stoneham Drilling Corporation was formed on January 17, 2008 pursuant to the laws of the State of Oklahoma to provide contract drilling services within the Anadarko Basin in the United States.