Crosco Expands Service Activities in Egypt

Crosco Integrated Drilling & Well Services Co., Ltd. has been awarded the following contracts in Egypt:

Eni's subsidiary International Egypt Oil Co. (IEOC) has awarded Crosco a seven firm plus three optional well contract for drilling services that will be provided on the Western Desert Concession. Drilling services will be provided with Crosco 2000 HP drilling rig Emsco 605 (Emsco C-2II) upon completion of well Drazia-1 for INA Industrija nafte d.d. Zagreb Naftaplin (Egypt Branch). The planned well depth for each of IEOC's wells is 4,500 meters.

RWE Dea Nile GMBH has awarded Crosco a two year, two drilling rig contract for drilling services that will be provided on the Disouq Concession. Drilling services will be provided with Crosco 2000 HP drilling rig Emsco 602 (Emsco C-2II) and with subcontracted NIS-Naftagas 2000 HP drilling rig National 2 (National 1320 UE). Drilling services with National 2 are scheduled to commence in September 2006. Drilling services with Emsco 602 are scheduled to commence in March 2007 upon completion of drilling services for Al Furat Petroleum Co. in Syria.

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