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  Arrow 3 Media Release 17 January 2003

ESTec announces Top Drive Rental Contract

ESTec Systems Corp. is pleased to announce it's subsidiary ESTec Oilfield Inc. ("ESTec" or the "Company") has signed a significant top drive rental contract.

The contract is with a national drilling contractor and provides for ESTec to supply one IntegraLine 150iH Top Drive, along with an operator and technical support. The drive has been delivered and installed on the contractor's rig in northern British Columbia and drilling is expected to commence this weekend.

The Company anticipates the top drive's rental will generate $50,000.00 per month in revenue and the contractor expects to use the unit until the end of April.

At a height of only 15 feet, the IntegraLine 150iH is the smallest top drive in the world, and the only one that is compatible with double and super single rigs. The drive system enables drilling contractors to increase productivity by as much as 25 percent, while dramatically reducing employee injury rates as well as enhancing over-all site and drilling efficiency.

ESTec has had a lot of interest in the IntegraLine 150iH Top Drive. However, a mild winter coupled with uncertainty in the world's oil economy has stalled drilling and delayed both sales and rentals. Industry analysts and management expect activity will resume shortly, therefore ESTec is completing construction of two more drives and there are rental and sales opportunities for each.

On behalf of the Company,

Anthony B. Nelson
President

 
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