Exclusive Team Work Of Tesco and Schlumberger

Canadian oilfield service company Tesco Corporation announces it has signed a Joint Operations Agreement with Schlumberger Oilfield Holdings Ltd on the joint work, subject to certain
exceptions, in the provision of Casing Drilling services in Mexico and
Russia.
The Agreement establishes a collaborative relationship between Tesco and Schlumberger to promote the utilization of Tesco's patented Casing Drilling(TM) services in conjunction with Schlumberger's products, services and expertise.
Tesco and Schlumberger are to maintain exclusive rights to its respective intellectual property.
The exclusivity provisions of the Agreement provide for a continuous revenue stream to Tesco dependant on the success of the collaborative relationship and its ability to apply Casing Drilling(TM) as a well construction solution in the noted areas.