The year 2008 was completed by the concretization of our investment plan initiated since 2006 for total costs of about 36 billion DZD. Within this framework, we have reinforced our production capacity with the reception and the constitution on site of 19 drilling and work over rigs, thus increasing our fleet to 54 units: acquisition of 4 WIRTH rigs (2 "2000 HP" and 2 "1200 HP"), and 10 "1500 HP" Ideal NOV rigs; constitution on site of 5 rigs (3 "2000 HP" and 2 "1500 HP"). This program also enabled the company to modernize the remaining fleet and obtain modern management tools.

The success of on site assembling of the "1500 HP" TP 215 rig, with the proper means of the Company, and its startup in Libya - for the account of Sonatrach International Production and Exploration - Libyan Branch, enters in the straight line of our investment plan. The restoration and the renewal of the certification of the mast belonging to the TP 162 constitute another success for our Company. While the TP 216 - former TP 181 - is in phase of revamping.

Moreover, the Company obtained new handling and transport equipment, including 30 trucks of 40 tons each, 7 lifting trucks of 7 tons, 15 minibus, 56 commercial and different vehicles.

As for the modernization of the management tools, the Company consolidated the implementation of the GMAO process on the whole of the sites and on the level of the Transport Management, during 2008. From now on, the expressed spare parts' needs are envisaged according to the GMAO meters in each structure. The other outstanding event is the signature of an acquisition and implementation business package contract to integrate "E Business Suite - EBS", with "Oracle" integrator, in December, for the implementation of the ERP integrated system. The launching of this twelve-month duration project is scheduled for March 2009.

The beginning of the second half of 2008 knew another notable event: the confirmation of our QHSE system's certification, going up to 2007 version of OHSAS 18.001 standard, following the renewal audit which proceeded from June 29 to July 2, 2008. This asset strengthens our Company as regards quality, health, safety and environment, and constitutes, thus, the proof of the provisions' conformity of the three QHSE system reference frames near our customers and partners. It is important to stress that ENTP is being the first State Company on the national territory to be presented for certification to this new version of OHSAS 18.001 reference frame.

As regards safety, the carried out performances are appreciable because a considerable drop was recorded for the third consecutive year, as well of the frequency rate as of that of the accidents' gravity, thus passing from 211 accidents in 2005 to 161 in 2008. The record carried out by TP 197's crew is the formal evidence of this success. Indeed, the TP 197's crew took up a two consecutive year challenge of activity without the least accident, up to September 2008. Following its footsteps, 20 other crews already crossed six months of activity without accidents. It is a revealing sign of the awakening by the workers of the HSE standards' stakes and their preponderance in the performance.

As far as human resources are concerned, in order to palliate the needs of the Company as for qualified personnel - the situation is primarily due to legal and anticipated retirement and foreign companies lusting after our workers -, our Company's policy was first of all articulated on the renovation of the personnel through the recruitment of young academics whose training has a direct impact on our production, and then on the raising of the qualification level through training programs targeting drilling and maintenance business.

In order to improve life conditions of our workers and to take care of their wellbeing, the Company's management carried out the replacement of the old drilling camps by new ones, and undertook renovation works for the whole of the habitation blocks located at the wide "December 11, 1960" life base.

In addition, the project of the Company's files was concretized through the preparation of a suitable room for the storage of the documentary mass as well as the collection, the identification and the seizure of the documents.

In its strategy of partnership, ENTP concretized a joint-venture with Weatherford which led to the creation of the International Drilling and Integrate Services subsidiary company (IDIS), operational since September 2008. This subsidiary company is equipped with ten rigs; the two parts (ENTP and Weatherford) providing five rigs each. This partnership aims at acquiring and controlling world new drilling technologies, and will facilitate to ENTP export its services among other advantages.

Concerning services' export, the opening on other drilling markets apart from the national territory, is one of the strategic objectives of the Company. This opening will enable the Company not only to increase its market potential, but also to face the possible difficulties which could occur on the national market.

For the Oman Project, ENTP rents 2 "1500 HP" power rigs to ENAFOR LLC Oman, and takes part in its authorized capital. It should be noted that ENAFOR LLC of Oman is a tripartite subsidiary company shared by ENAFOR Spa (35%), ENTP Spa (35%) and Ennahdha Omania (30%).

Out of the country, the Company expresses its determination to ensure its perennial presence on the Libyan territory, with the creation of the subsidiary company ENTP Libyan Branch, equipped with a TP 215 rig (1500 HP), for the account of SIPEX Libyan Branch, while ensuring mud logging service. This subsidiary company was born thanks to the contract 001/2008/065, signed between ENTP Spa and SIPEX Libyan Branch.

After this retrospective of the outstanding events which marked this pivotal year, we can qualify the physical and financial achievements' results as very encouraging. These results were accomplished thanks to the whole of the crew's commitment in spite of all the difficulties encountered during the startup and the exploitation of the considerable number of new rigs and their introduction into our fleet.

However, we are convinced of our capacity to do better with the assistance of all, in order to improve our performances for the year 2009, seeing the ambitious workload of our fleet, whose totality will have entered in exploitation before the end of the year 2009. Presently, our developmental perspective must be especially focused on the good management of all these recently acquired modern production equipments. It is also necessary for us to go to the front of the reduction of unproductive times and equipment waiting, by making of the fight against prodigality the Company's leitmotiv.

The Chairman