Tesco Cancels Sale of Rigs to Drillmar

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.