Abstract: An improved drill stand assembly for supporting a power drill in an elevated and inverted position and for advancing and retracting the drill towards and away from an overhead work surface without regard to angular displacement of the drill bit, the drill stand assembly including a measuring gauge and a measuring gauge locking device, an inner tubular column slidably located within an outer tubular column on which the drill is mounted, a lever pivotally connected at a pivot point to an outer column support collar, a linkage pivotally connected at its upper end to a pivot point on the lever and pivotally connected at its lower end to a pivot point attachment mechanism comprising a releasable locking clamp in cooperative relation with a locking compression collar that are slidably located on the inner column.