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Thirteen Winners Recognized at Industry Event

Houston, Texas – October 18, 2002 — World Oil ® magazine announced
the thirteen winners of the “Next Generation” inaugural awards
program at a sold-out gala dinner last night in Houston, Texas. The dinner,
attended by more than 270 industry leaders, also benefited four universities
that offer programs leading to careers in the petroleum industry.

Calgary-based Tesco Corporation took top honors for its
innovative casing drilling technology. This new technology allows wells
to be simultaneously cased and drilled, a significant step-change in methods
from the rotary-drilling technique that has been used for the past century.

Robert P. Peebler, President and CEO of Energy Virtual
Partners, won the “Oil and Gas Industry Executive Award” for
his breakthrough thinking on how upstream companies manage their information.
He has pioneered the concept of providing integrated software solutions
allowing geoscientists to collaborate with engineers.

The complete list of winners is:

Winners

    1. Tesco Corporation’s casing drilling technology: The Next Generation
    Idea Award, sponsored by BearingPoint (formerly known as KPMG Consulting)
    2. Robert P. Peebler, Energy Virtual Partners: Oil and Gas Industry Executive
    Award sponsored by Spencer Stuart
    3. ChevronTexaco Barrow Island Oil Field Environmental Program: Health,
    Safety, Environment/Sustainable Development Award
    4. MagicEarth’s GeoProbe: Best Development, Production and Reservoir
    Data Solution Award
    5. Balmoral Group Ltd’s UltraTherm Product: Best Production Solution
    Award, sponsored by Kvaerner Oilfield Products
    6. Cameron’s Environmental Safe Guard: Best Drilling/ Completion
    Solution Award
    7. Devon Energy for back-to-back acquisitions of Anderson Exploration
    & Mitchell Energy: Best Business Acumen Award, sponsored by Fulbright
    & Jaworski L.L.P.
    8. Schlumberger’s Oil-Base MicrcoImager: Best Exploration Solution
    Award
    9. Input/Output’s VectorSeis Technology: Best Exploration Solution
    Award
    10. A2D’s Log-LINE Plus!: Best Database/Data Management Solution
    Award

Certificate of Commendation

    1. Thai Shell E&P Educational Program near Sirkit Oil Field: Health,
    Safety, Environment /Sustainable Development Category
    2. Twister BV – Supersonic Natural Gas Dewpointer: Best Production
    Solution Category
    3. Enventure Global Technology’s Solid Expandable Tubulars: Best
    Drilling/Completion Solution Category

Marlene McClinton, President of Batyah Productions and
former KHOU-TV news anchor, emceed the event. Perry Fischer, Editor of
World Oil, helped serve as the Master of Ceremonies. Highlighting the
World Oil Awards’ objective of supporting and inspiring the next
generation of leadership in the petroleum industry, Mr. Fischer cited
statistics pointing to a recent dramatic upswing in enrollment in leading
university petroleum engineering programs. “The word is getting out
that this is where technological breakthroughs are happening,” Mr.
Fischer commented. “Freshman enrollment in domestic university-level
petroleum engineering programs has nearly doubled at select institutions
in the past year.”

The World Oil Awards benefited the University of Aberdeen,
the University of Adelaide, Oklahoma University and Texas A&M. A third-party
Advisory Board, comprised of 17 senior industry executives and academics,
judged the short-list of nominees.

At the World Oil Awards dinner, “New Horizons”
was announced as the theme for the 2003 World Oil Awards program.

World Oil ® magazine, the leading oil and gas trade journal for the
exploration, drilling and production sector, has a worldwide circulation
of 36,000 readers. Gulf Publishing Company has published World Oil for
86 years. Additional information on the World Oil Awards program can be
found at www.awards.worldoil.com
or please contact Alexandra Pruner at 713.520.4474.