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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: u2bob who wrote (15661)	9/25/2002 1:34:23 AM
From: russet	Respond to of 15703

Tesco Corporation Reports Casing Drilling Success On A Conventional Land Rig Trading Symbols: "TESOF" on NASDAQ "TEO" on TSX CALGARY, Sept. 24 /CNW/ - (Nasdaq: TESOF) - Tesco Corporation is pleased to announce the successful application of it's Casing Drilling(TM) technology on an unmodified drilling rig in South Texas. A 4 1/2" casing string with buttress profile connections was drilled (rotated) from approximately 6700' to 10,000', successfully passing through a severely depleted zone and through numerous zones normally associated with severe loss circulation. By successfully drilling through these problem zones, the Casing Drilling(TM) technology allowed the Operator to eliminate the need for a previously planned intermediate casing string, saving the Operator an estimated 20% of the total well AFE cost. Average well AFE's for this area have been previously budgeted at $1 million (USD). The Operator is already discussing additional drilling opportunities that may result due to the significant cost savings the Casing Drilling(TM) technologies provided. This success represents the first time that Tesco's proprietary casing drilling products have been used on a conventional land rig to drill with casing, and paves the way for this technology to be commercialized on conventional rigs around the world. Any statements in this press release that may be considered forward- looking are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. %SEDAR: 00002774E