CROSCO to provide drilling services to RWE-Dea with Crosco National 801

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.

CROSCO is currently providing services in Oman, UAE, Syria, Egypt, Libya, Italy, Hungary, Bosnia and Herzegovina, Slovenia and Croatia. CROSCO has been providing services internationally since 1958 and has provided services in 34 countries for many of the world's most recognized oil companies. The company has ISO 9001, ISO 14001 and OHSAS 18001 certification from Bureau Veritas Certification Croatia. CROSCO has an annual revenue surpassing US$ 200 million. The company's headquarters are located in Zagreb, Croatia.