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Considering this, I liken the odds of life on another planet to the odds of a person winning the PA and NJ lottery on the same day. First we get lucky with the necessary chemicals required for life on earth, then we get lucky again with the perfect temperature. The odds that life exists somewhere else in the universe are astronomically low. Some people may see "luck" as "intelligent design" so in that case I guess the question would be what are the odds that our intelligent creator decided to do his little experiment somewhere else. My guess is as good as yours on that one.
Consider this. The probability of life existing somewhere else in the cosmos is next to zero. However, the sample space that we are taking the information from is infinite. This means that although the probability is impossibly small, it still exists because of the infinite nature of the space itself. Now, if a probability exists, that means there must be an equation to solve it.
Put simply, the universe is too big for life NOT to exist.