CROSCO To Provide Drilling Services To RWE-Dea With Crosco National 801

Zagreb, Croatia - CROSCO Integrated Drilling & Well Services Co., Ltd. is pleased to announce that CROSCO will be providing drilling services with CROSCO 3000 HP drilling rig National 801 for RWE-Dea Nile GmbH (RWE). Drilling services will be provided in Egypt and will commence prior to the 2007 year end.

The National 801 drilling services contract amends a previous agreement where CROSCO was to have provided drilling services with CROSCO 2000 HP drilling rig Emsco 602 for a two year period. The rig change was done to meet RWE's new requirements.

Emsco 602 is also expected to be mobilized to Egypt on a long term contract, in mid 2008, upon completion of a drilling services contract for Gulfsands Petroleum PLC (Gulfsands) in Syria. Meanwhile, CROSCO 1500 HP drilling rig Emsco 401 will be mobilized to Syria to provide drilling services for Gulfsands under a 2 year contract.

CROSCO is an integrated onshore and offshore drilling and well services contractor. The company has a fleet of 66 modern drilling, workover and geoservices rigs as well as one semi-submersible and one jack-up. CROSCO also has under bareboat contract Diamond Offshore jackup rig Ocean King and CROSCO provides maintenance and spare part management on ENI's Libyan Sabratha production platform. 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.

SOURCE: CROSCO Integrated Drilling & Well Services Co., Ltd