Tesco Corporation has agreed with Drillmar Inc. to end its letter of intent to sell
Tesco's three Genesis Casing Drilling(TM) rigs to Drillmar. Tesco will
continue to operate and contract the Genesis rigs as part of a complete Casing
Drilling package. Two of the three rigs are currently under contract to
customers for the coming year, and the third is being bid on new prospects.