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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (68683)	6/23/2000 1:46:00 PM
From: Roebear	Read Replies (1) \| Respond to of 95453

BigDog, It's a beautiful day out and its calling me, but if you are unfamiliar with the products TESOF has to offer just wait till you read this, ggg. TESOF and SLB, for pete's sake. This is from TESOF's annual report for Dec 31. 1999: Casing Drilling TM, and I'm not going to put all the TM's in Casing Drilling is Tesco's most progressive technology and has enormous market potential. The Corporation believes that this new way of drilling will significantly reduce both drilling costs and downhole problems, creating the opportunity for Tesco to generate a substantial market for its products and services. Casing Drilling is the only drilling methodology that optimizes drilling efficiency by providing effective rock destruction and rapid downhole tool conveyance while simultaneously reducing downhole roblems. Rotary drilling increased drilling speed over the oldest drilling technology-cable tool drilling-but it has slowed down the process of conveying downhole tools with drillpipe (tripping). During the tripping process, the hole will often collapse and substantial time is lost reaming (reopening) these collapsed sections. Top drives make the reaming process more efficient, but does not eliminate the need to ream. In addition 70% of the kicks which can lead to a blowout occur while the pipe is being tripped. Casing drilling eliminates these problems by conveying and retrieving the downhole tools, by wireline, inside the casing. There is no need to trip the casing to retrieve downhole tools. Tesoco recognized that significant improvement in drilling performance required revolutionary, not evolutionary change, and identified with Casing Drilling an industry transforming technology. In Casing Drilling a modified top drive, casing and specially designed bits and downhole tools drill the well. The casing acts as a conduit for delievery and retrieval of the bit and downhole tools. The casing remains in the hole and maintains the intergrity of the wellbore. This reduces or eliminates unscheduled events that slow the drilling process and cause flat time. the result is a well that is completed faster at a lower cost. Tesco believes that its patented casing drilling process can reduce drilling time by up to 30%, depending on the type of well. Tesco begain its Casing Drilling R&D program in 1995.....first test well in December 1998...During the second half of 1999, the Corporation began field trials with several major oil companies in Canada and the United States using its prototype purpose built casing drilling rig. The Corporation completed ten field trials, which led to the development of many technical enhancements to the equipment and process. The Corporation is now developing a casing drilling conversion package for existing rigs which includes a top drive, portable hydraulic power unit, wireline winch and proprietary downhole tools. Tesco has drilled with several different casing diameters up to 9 5/8 and has drilled successfully to 90 degrees. The Corporation now uses tools that are retrievable up to 45 degrees and is developing tools that are retrievable from horizontal wells. Tesco is also designing tools for larger casing sizes used in offshore drilling. The Corporation has just started to cmmercially market Casing Drilling in response to strong interest from the industry. During 2000, Tesco will continue testing in partnership with mahor independent and international oil companies. The intention is to demonstrate the ability of Casing Drilling....management expects commercial operations to begin in the latter part of the year. Focus will be on the offshore market where wells are costly and drilling savings can be considerable. In October 1999, the Corporation enetered a Preferred Supplier and Alliance Agreement with Schlumberger. Under this agreement both companies will cooperate in providing specialized Casing Drilling services, including the latest engineering and technology developed by each. This alliance will focus on adapting Schlumberger's downhole tools to Tesco's Casing Drilling process, creating a significant market for both companies.... end of quote, some items ....(deleted...) due to length and the fatigue of me the typist, all typos are mine. Other operations by TESOF include Portable Top Drives, Underbalanced Drilling, Drilling Rigs, Completions Products, Industrial Products (advanced petroleum coke drum, unheading devices, and automated bolt closure devices for a major US engineering firm. Contracts for additional unheading systems are expected in mid 2000. So there you go! Best Regards, Roebear