MedXLink Corp. Completes Merger with Particle Drilling Technologies Inc.

HOUSTON -- Particle Drilling Technologies Inc., a developer of a patented particle impact drilling technology for use in oil and gas exploration ("Particle Drilling" or "PDTI"), and MedXLink Corp., (OTC Bulletin Board:MXLK)("MedXLink"), today announced they have completed the previously announced acquisition of PDTI by MedXLink in a stock-for-stock transaction. The combined company will have approximately 22 million fully diluted shares outstanding. MedXLink intends to change its name to Particle Drilling Technologies Inc. and its stock ticker in the near future.

John D. Schiller, Jr., the chief executive officer of PDTI, stated: "This merger continues to advance the Particle Drilling business plan as we remain focused on final development and commercialization of our technology. The Particle Drilling technology has the potential to reduce the cost of drilling for oil and gas by decreasing the cost and time required to drill through difficult formations."

PDTI's patented Particle Impact Drilling system utilizes a specially designed drill bit fitted with jetting nozzles that serve to accelerate spherical steel particles ("shot") entrained with drilling mud into the path of the drill bit. Each particle is driven into the rock formation at a high velocity and through momentum change, delivers forces many times greater than the compressional strength of the rock, even in formations that exist in the subsurface at elevated hardness and stress. The number of steel shot strikes on the formation varies with the amount of shot entrained into the mud system. The Particle Impact Drilling system is expected to entrain, circulate, and recover steel shot in the mud system without allowing the shot to circulate through a rig's pumps. The system is designed as a mobile service that is expected to be provided to the oil and gas operator as part of the normal drilling process. The system is expected to result in increased bit life, longer footage runs and much higher rates of penetration, thereby significantly reducing drilling costs and improving overall economics in the oil and gas drilling industry. PDTI believes its Particle Impact Drilling system has broad market application that will significantly reduce drilling costs in the drilling market.

Pursuant to the Agreement and Plan of Reorganization, many of the officers and directors of PDTI will become officers and directors of MedXLink. A brief biography of PDTI's senior management and its expected Board of Directors is summarized below.

Officers & Directors

John D. Schiller, Jr., President and CEO 

Mr. Schiller was previously with Devon Energy where he was vice president, Exploration & Production with responsibility for Devon's Domestic & International activities. Before joining Devon Energy he was executive vice president, Exploration & Production for Ocean Energy Inc. He was responsible for Oceans' worldwide exploration, production and drilling activities.

Mr. Schiller joined Ocean Energy from Seagull Energy, where he served as senior vice president of Operations before the two companies merged in March of 1999. He joined Seagull Energy from Burlington Resources, where he served in a variety of operational and management positions over a period of 14 years, including Production and Engineering Manager for the Gulf Coast Division. Prior to this assignment, he managed the corporate acquisition group for Burlington Resources.

Mr. Schiller graduated with honors from Texas A&M University with a Bachelor of Science in petroleum engineering and now serves as chairman of the Texas A&M Petroleum Engineering Industry Board. He is a member of the Society of Petroleum Engineers, American Petroleum Institute, American Association of Drilling Engineers and Board member of the Houston Producers Forum.

Ken R. LeSuer, Chairman and Independent Director

Ken R. LeSuer retired in 1999 as vice chairman of Halliburton Company. Prior to becoming the vice chairman, Mr. LeSuer served as both the president and CEO of Halliburton Energy Services and as president and chairman of Halliburton Energy Group. He also served as president and CEO of three Halliburton units during his tenure. Mr. LeSuer began his career with Halliburton as an engineer-in-training in 1959. From 1965 through 1982, he served in managerial positions in Asia Pacific and Europe/Africa and was serving as vice president of Europe/Africa before returning to Duncan, Okla., to assume the position of vice president of International Operations in 1982.

Mr. LeSuer was a member of the Texas A&M University Petroleum Engineering Industry Board, as well as the TAMU Dwight Look College of Engineering External Advisory and Development Council. He has served as vice president Services Division of the International Association of Drilling Contractors, and is a member of numerous petroleum and geological engineering societies, including Society of Petroleum Engineers, the American Petroleum Institute, the National Ocean Industries Association, and the Petroleum Equipment Suppliers Association. Mr. LeSuer received his bachelor's degree in petroleum engineering from Texas A&M University in 1959.

J. Chris Boswell, Senior Vice President, CFO and Director

Mr. Boswell has over 19 years of experience in financial management focused in the energy industry and began his career at Arthur Anderson & Co. and later served in management positions with Price Waterhouse in Houston. He served as senior vice president and chief financial officer of Petroleum Geo-Services ASA ("PGS") from December 1995 until October 2002. PGS grew from a small enterprise in 1994 when Mr. Boswell joined the company to a $1 billion annual revenue enterprise with a peak enterprise value of $6 billion. Subsequent to Mr. Boswell's departure and following a change of control within PGS, the new management of PGS filed for bankruptcy protection in July 2003 in order to restructure PGS's debt portfolio. The restructuring was successfully completed and PGS emerged from bankruptcy in October 2003. In all, during his tenure as CFO at PGS, Mr. Boswell financed over $3 billion of capital expenditures to fund the Company's growth. Additionally during 1995, Mr. Boswell and other senior executives at PGS developed the concept to create a unique oil and gas company using a non-exclusive license in PGS' seismic data library as seed capital. This company became Spinnaker Exploration Company (NYSE:SKE) and now has a market capitalization in excess of $1 billion. Mr. Boswell is a 1984 graduate of the University of Texas at Austin.

Thomas E. Hardisty, Senior Vice President, Corporate Development and Director

Mr. Hardisty has over 20 years of experience in the oil and gas industry, primarily in the area of land management, contracts and corporate development, and is co-founder of the Company. From January 2001 until June 2003, Mr. Hardisty was vice president, Land of Shoreline Partners LLC, an independent exploration company and from January 2000 until January 2001, vice president, Land of Benz Resources LLC, a consulting firm charged with managing certain exploration properties acquired by Harken Energy Corporation. From May 1999 until January 2000, Mr. Hardisty was a land manager for Texstar Energy Inc. responsible for divesting certain of the company's exploration projects in the Texas Gulf Coast and Mississippi areas. From 1994 until May 1999, Mr. Hardisty was division landman for PetroCorp Inc. responsible for company land positions, contract negotiations and partner relations in exploration and development projects in PetroCorp's Gulf Coast, Rockies and Canada Division. From 1984 until 1994, Mr. Hardisty was a land consultant and later senior project manager for Roger A. Soape Inc. in Houston. Mr. Hardisty graduated from the University of Texas at Austin in 1984 with a BBA in petroleum land management. He is a member of the American Association of Drilling Engineers (AADE), the American Association of Professional Landmen (AAPL) and the Houston Association of Professional Landmen (HAPL). Mr. Hardisty recently served as a director of HAPL and is past chairman of the HAPL Ethics Committee and past Chairman of HAPL Membership Committee.

Gordon Tibbitts, Vice President of Technology

Mr. Tibbitts has over 30 years of experience in the upstream oil and gas industry and has 17 years of experience in engineering, research, and development management. Mr. Tibbitts is former director of Research and Development for Hughes Christensen Company, one of the largest makers of oil and gas drilling bits. At Hughes Christensen, Mr. Tibbitts was responsible for managing and directing world-wide research, development and technical support through research groups in Houston, Salt Lake City, and Tulsa, Okla. He directed and managed the building of a world-class drilling research laboratory in Houston and a drilling operation in Oklahoma dedicated to field-testing and development of downhole tools. Mr. Tibbitts holds over 70 patents related to drilling, coring, and diamond cutting tools. His work has been published by the Society of Petroleum Engineers, International Association of Drilling Contractors, Society of Core Analysts, and the Journal of Petroleum Technology. He graduated from the University of Utah with a Bachelors degree in mechanical engineering.

Prentis B. Tomlinson, Jr., Director

Mr. Tomlinson has over 30 years of experience in the energy industry, and is a second-generation oil and gas man who traces his roots back to Tomlinson Geophysical Service, founded in 1937 by P.B. Tomlinson, Sr. Mr. Tomlinson has founded a number of companies in the energy sector, including exploration and production companies, a crude trading company and another oilfield service company, TGS Geophysical Inc., which merged with Nopec in 1997 to form TGS Nopec (www.tgsnopec.com) (OSE:TGS). From January 1998 until December 1999, Mr. Tomlinson was chairman, president and chief executive officer of Benz Energy Inc. and its wholly-owned U.S. subsidiary, Texstar Petroleum Inc. Benz Energy and Texstar Petroleum were exploration and production companies active in Texas and Mississippi. From January 2001 until June 2003, Mr. Tomlinson was president of Shoreline Partners LLC, an independent exploration company and from January 2000 until January 2002, president and director of Benz Resources, L.L.C., a special purpose entity established to manage certain exploration assets owned by Harken Energy Corporation. Subsequent to Mr. Tomlinson's departure, Benz Energy and Texstar Petroleum filed for bankruptcy protection in late 2000 as a result of a substantial write-down of reserves at the North Oakvale Dome field in Mississippi in June 2000. Mr. Tomlinson received a B.S. and M.S. in geology from Louisiana Polytechnic Institute, a MTS and MA in religious studies from Harvard University, and he is currently a candidate for a Ph.D. in religious studies from Harvard University.

Michael S. Mathews, Independent Director

Michael Mathews is managing director of Westgate Capital Co., a firm he founded in 1993 to identify and structure investment opportunities on behalf of private investors. Mr. Mathews served on the Board of Petroleum Geo-Services (PGS) from 1993 until September 2002. From 1998 to 2002, he served as vice chairman of PGS and held the position as chairman of the Compensation Committee and was a member of the Audit Committee. From 1989 to 1992, Mr. Mathews served as managing director of Bradford Ventures Ltd., a private investment firm involved in equity investments, including acquisitions. Prior to 1989, he was president of DNC Capital Corporation and senior vice president and director of its parent, DNC America Banking Corp., the U.S. subsidiary of Den Norske Credit Bank Group, where he directed merchant banking and investment activity in North America and founded and acted as senior advisor to Nordic Investors Limited, N.V., a private venture capital fund. Previously, Mr. Mathews was a vice president in Corporate Finance at Smith Barney and prior to that he was an associate with the New York law firm of White & Case. Mr. Mathews received an A.B. from Princeton University in 1962 and received a J.D. from the University of Michigan Law School in 1965.

Hugh A. Menown, Independent Director

Mr. Menown has over 23 years experience in mergers & acquisitions, auditing and managerial finance. Mr. Menown has worked with Quanta Services Inc. ("Quanta") (NYSE:PWR) as a consultant or employee in various capacities since July 1999. Mr. Menown performed due diligence on a number of Quanta's acquisitions and has served as chief financial officer for two of their operating companies, most recently North Houston Pole Line, L.P. located in Houston. Prior to working with Quanta, Mr. Menown was a partner in the Houston office of PricewaterhouseCoopers, LLP where he led the Transaction Services Practice providing due diligence, mergers & acquisition advisory and strategic consulting to numerous clients in various industries. Mr. Menown also worked in the Business Assurance Practice providing audit and related services to clients. Mr. Menown is a Certified Public Accountant.

Safe Harbor Statement

Certain statements in this press release that are not historical but are forward-looking are subject to known and unknown risks and uncertainties, which may cause PDTI's actual results in future periods to be materially different from any future performance that may be suggested in this press release. Such risks and uncertainties may include, but are not limited to, PDTI's need to raise equity capital and its ability to obtain equity financing on acceptable terms, if at all, a severe worldwide slowdown in the energy services sector, working capital constraints, fluctuations in customer demand and commitments, fluctuation in quarterly results due to the timing of orders and our capacity to fulfill them, introduction of new services, commercial acceptance and viability of new services, cancellations of orders without penalties, pricing and competition, reliance upon subcontractors, the ability of PDTI's customers to finance their purchases of PDTI's services, the timing of new technology and product introductions, and the risk of early obsolescence. Further, PDTI is a development stage company that operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond PDTI's control such as announcements by competitors and service providers.

About Particle Drilling Technologies Inc.

PDTI is a development stage oilfield service and technology company owning certain patents and pending patents related to the Particle Impact Drilling technology. The company's technology is expected to significantly enhance the rate-of-penetration function in the drilling process, particularly in hard rock drilling environments. PDTI intends to develop and exploit this technology by commercializing the Particle Impact Drilling system and through a unique contracting strategy. PDTI is headquartered in Houston.