Crosco Wins New Drilling Contracts Contracts

Libya

Woodside Energy (N.A.) Ltd. has awarded Crosco a seven firm plus seven optional wells contract for drilling in the Company's concessions in the Sirte Basin in the Eastern Libyan Desert. Drilling is expected to commence utilizing the Crosco 2000 HP drilling rig EMSCO 603 (EMSCO C-2II) within the next two months.

Egypt

Drilling services for RWE Dea Nile GMBH (RWE) have commenced on a two firm plus one optional well contract assigned by INA INDUSTRIJA NAFTE d.d. Egypt Branch (INA). Services for RWE are being provided on the Asyout and Disouq concessions. Drilling for INA will be done on the East Yidma and North East Desert concessions under a four firm plus three optional well contract. Services are being performed with Crosco 2000 HP drilling rig EMSCO 605 (EMSCO C-2II).

Syria

Crosco has commenced drilling for Dublin International Petroleum (Syria) Limited, a wholly owned subsidiary of Tanganyika Oil Ltd. of Canada, with Crosco 1500 HP drilling rig MIDCO 501 (Mid-Continent U-914 EC). The awarded contract is for three firm plus two optional wells.

Crosco has also commenced provision of well logging services for INA and Hayan Petroleum Company. Services will be done with the assistance of Schlumberger Middle East S.A.

Crosco is an integrated onshore and offshore drilling and well services contractor. The company has a fleet of 51 modern drilling, workover and geoservice rigs as well as one semisubmersible and one jackup. Crosco also operates and manages Noble jackup rig Carl Norberg. In addition, with state-of-the-art western equipment, Crosco provides the following services: well testing, coil tubing, nitrogen, cementing, stimulation, logging, mud, coring, fishing and directional drilling. Crosco is currently providing services in Oman, Syria, Qatar, Egypt, Libya, Russia, Albania, Italy, Slovenia, Hungary, Bosnia and Herzegovina and Croatia.