Exhibit 99.1

  Code of Ethics and Business Conduct for Officers, Directors and Employees of
                                  Oranco, Inc.

     1.  Treat  in an  Ethical  Manner  Those  to  Whom  Oranco,  Inc.  Has an
Obligation

We are committed to honesty,  just  management,  fairness,  providing a safe and
healthy  environment  free  from the fear of  retribution,  and  respecting  the
dignity due everyone.

For the  communities in which we live and work we are committed to observe sound
environmental  business  practices  and  to  act as  concerned  and  responsible
neighbors, reflecting all aspects of good citizenship.

For our  shareholders  we are  committed  to pursuing  sound growth and earnings
objectives and to exercising prudence in the use of our assets and resources.

     2. Promote a Positive Work Environment

All employees want and deserve a workplace where they feel respected, satisfied,
and appreciated.  We respect  cultural  diversity and recognize that the various
communities  in which we may do business  may have  different  legal  provisions
pertaining  to the  workplace.  As  such,  we  will  adhere  to the  limitations
specified by law in all of our  localities,  and  further,  we will not tolerate
harassment or  discrimination  of any kind -- especially  involving race, color,
religion,  gender,  age,  national  origin,  disability,  and veteran or marital
status.

Providing an  environment  that supports  honesty,  integrity,  respect,  trust,
responsibility, and citizenship permits us the opportunity to achieve excellence
in our workplace.  While  everyone who works for the Company must  contribute to
the  creation  and  maintenance  of  such an  environment,  our  executives  and
management  personnel  assume  special   responsibility  for  fostering  a  work
environment  that is free from the fear of  retribution  and will  bring out the
best in all of us.  Supervisors  must be careful  in words and  conduct to avoid
placing, or seeming to place,  pressure on subordinates that could cause them to
deviate from acceptable ethical behavior.

     3.  Protect Yourself, Your Fellow Employees, and the World We Live In

We are committed to providing a drug-free,  safe, and healthy work  environment,
and to observe  environmentally  sound business practices.  We will strive, at a
minimum,  to do no harm and where possible,  to make the communities in which we
work a better  place to live.  Each of us is  responsible  for  compliance  with
environmental,  health, and safety laws and regulations. Observe posted warnings
and regulations.  Report immediately to the appropriate  management any accident
or injury  sustained on the job, or any  environmental or safety concern you may
have.

     4.  Keep Accurate and Complete Records


We must maintain accurate and complete Company records. Transactions between the
Company  and  outside   individuals  and  organizations  must  be  promptly  and
accurately entered in our books in accordance with generally accepted accounting
practices  and   principles.   No  one  should   rationalize  or  even  consider
misrepresenting  facts or falsifying  records. It will not be tolerated and will
result in disciplinary action.




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     5.  Obey the Law

We will  conduct  our  business  in  accordance  with  all  applicable  laws and
regulations.  Compliance  with the law  does not  comprise  our  entire  ethical
responsibility.  Rather,  it is a minimum,  absolutely  essential  condition for
performance of our duties. In conducting business, we shall:

          a.   Strictly Adhere to All Antitrust Laws

          Officer, directors and employees must strictly adhere to all antitrust
          laws. Such laws exist in the United States, the European Union, and in
          many other  countries  where the Company may conduct  business.  These
          laws prohibit practices in restraint of trade such as price fixing and
          boycotting  suppliers or customers.  They also bar pricing intended to
          run a competitor  out of business;  disparaging,  misrepresenting,  or
          harassing  a  competitor;   stealing  trade  secrets;   bribery;   and
          kickbacks.

          b.   Strictly Comply with All Securities Laws

          In our role as a publicly  owned  company,  we must always be alert to
          and comply with the security laws and regulations of the United States
          and other countries.

               i.   Do Not Engage in Speculative or Insider Trading

               Federal law and Company policy prohibits officers,  directors and
               employees,  directly  or  indirectly  through  their  families or
               others,  from  purchasing  or selling  company stock while in the
               possession of material,  non-public  information  concerning  the
               Company. This same prohibition applies to trading in the stock of
               other   publicly  held   companies  on  the  basis  of  material,
               non-public   information.   To  avoid  even  the   appearance  of
               impropriety,  Company policy also prohibits  officers,  directors
               and employees from trading  options on the open market in Company
               stock under any circumstances.

               Material,  non-public  information is any information  that could
               reasonably  be  expected  to affect  the price of a stock.  If an
               officer,  director or employee is considering buying or selling a
               stock because of inside  information  they  possess,  they should
               assume that such  information  is material.  It is also important
               for the officer, director or employee to keep in mind that if any
               trade they make  becomes the subject of an  investigation  by the
               government,  the  trade  will be viewed  after-the-fact  with the
               benefit  of  hindsight.  Consequently,  officers,  directors  and
               employees should always carefully consider how their trades would
               look from this perspective.

               Two simple rules can help protect you in this area: (1) Don=t use
               non-public  information  for personal  gain. (2) Don't pass along
               such information to someone else who has no need to know.

               This guidance also applies to the  securities of other  companies
               for  which  you  receive   information  in  the  course  of  your
               employment at Drilling, Inc.

               ii.  Be Timely and Accurate in All Public Reports

               As a public company,  Drilling,  Inc must be fair and accurate in
               all reports filed with the United States  Securities and Exchange
               Commission.  Officers,  directors and management of Drilling, Inc

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               are  responsible  for  ensuring  that all  reports are filed in a
               timely  manner  and  that  they  fairly   present  the  financial
               condition and operating results of the Company.

               Securities laws are vigorously enforced. Violations may result in
               severe penalties  including forced sales of parts of the business
               and  significant  fines  against the  Company.  There may also be
               sanctions  against  individual  employees  including  substantial
               fines and prison sentences.

               The Chief  Executive  Officer and Chief  Financial  Officer  will
               certify  to  the  accuracy  of  reports  filed  with  the  SEC in
               accordance  with the  Sarbanes-Oxley  Act of 2002.  Officers  and
               Directors  who knowingly or willingly  make false  certifications
               may be subject to criminal penalties or sanctions including fines
               and imprisonment.

     6.  Avoid Conflicts of Interest

Our officers,  directors and employees have an obligation to give their complete
loyalty to the best interests of the Company.  They should avoid any action that
may involve,  or may appear to involve, a conflict of interest with the company.
Officers,  directors  and  employees  should  not  have any  financial  or other
business  relationships  with  suppliers,  customers or  competitors  that might
impair, or even appear to impair, the independence of any judgment they may need
to make on behalf of the Company.

     Here are some ways a conflict of interest could arise:

               Employment by a competitor,  or potential competitor,  regardless
               of the nature of the employment, while employed by Drilling, Inc.

               Acceptance of gifts,  payment,  or services from those seeking to
               do business with Drilling, Inc.

               Placement  of  business  with a firm  owned or  controlled  by an
               officer, director or employee or his/her family.

               Ownership  of, or  substantial  interest  in, a company that is a
               competitor, client or supplier.

               Acting as a consultant  to a Drilling,  Inc  customer,  client or
               supplier.

               Seeking the services or advice of an  accountant  or attorney who
               has provided services to Drilling, Inc.

Officers,  directors and employees are under a continuing obligation to disclose
any  situation  that  presents  the  possibility  of a conflict or  disparity of
interest between the officer,  director or employee and the Company.  Disclosure
of any potential  conflict is the key to remaining in full  compliance with this
policy.

     7.  Compete Ethically and Fairly for Business Opportunities

We must comply with the laws and regulations  that pertain to the acquisition of
goods and  services.  We will  compete  fairly and  ethically  for all  business
opportunities.  In  circumstances  where  there is  reason to  believe  that the



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release or receipt of non-public information is unauthorized,  do not attempt to
obtain and do not accept such information  from any source.  If you are involved
in   Company   transactions,   you  must  be   certain   that  all   statements,
communications, and representations are accurate and truthful.

     8.  Avoid Illegal and Questionable Gifts or Favors

The sale and  marketing of our products and services  should always be free from
even the perception that favorable treatment was sought,  received,  or given in
exchange  for the  furnishing  or  receipt  of  business  courtesies.  Officers,
directors and employees of Drilling,  Inc will neither give nor accept  business
courtesies that  constitute,  or could be reasonably  perceived as constituting,
unfair business inducements or that would violate law, regulation or policies of
the  Company,  or could  cause  embarrassment  to or reflect  negatively  on the
Company=s reputation.

     9.  Maintain the Integrity of Consultants, Agents, and Representatives

Business  integrity is a key standard for the  selection  and retention of those
who represent  Drilling,  Inc.  Agents,  representatives,  or  consultants  must
certify their  willingness to comply with the Company=s  policies and procedures
and must never be  retained  to  circumvent  our values and  principles.  Paying
bribes or kickbacks, engaging in industrial espionage, obtaining the proprietary
data of a third  party  without  authority,  or gaining  inside  information  or
influence  are just a few  examples of what could give us an unfair  competitive
advantage and could result in violations of law.

     10. Protect Proprietary Information

Proprietary  Company  information  may not be disclosed to anyone without proper
authorization. Keep proprietary documents protected and secure. In the course of
normal business activities,  suppliers, customers, and competitors may sometimes
divulge to you information that is proprietary to their business.  Respect these
confidences.

     11. Obtain and Use Company Assets Wisely

Personal use of Company  property  must always be in accordance  with  corporate
policy.  Proper  use  of  Company  property,  information  resources,  material,
facilities, and equipment is your responsibility.  Use and maintain these assets
with the utmost care and respect,  guarding  against waste and abuse,  and never
borrow or remove Company property without management's permission.

     12.  Follow the Law and Use Common  Sense in  Political  Contributions  and
          Activities

Drilling,  Inc encourages its employees to become  involved in civic affairs and
to participate in the political  process.  Employees must  understand,  however,
that their  involvement  and  participation  must be on an individual  basis, on
their own time,  and at their own  expense.  In the United  States,  federal law
prohibits  corporations  from  donating  corporate  funds,  goods,  or services,
directly or  indirectly,  to  candidates  for federal  offices -- this  includes
employees' work time. Local and state laws also govern  political  contributions
and activities as they apply to their respective jurisdictions, and similar laws
exist in other countries.

     13. Board Committees.

The  Company  shall  establish  an Audit  Committee,  at the  appropriate  time,
empowered to enforce this Code of Ethics. The Audit Committee will report to the
Board of Directors at least once each year  regarding the general  effectiveness

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of the Company=s Code of Ethics, the Company=s controls and reporting procedures
and the Company=s business conduct.

     14. Disciplinary Measures.

The Company shall  consistently  enforce its Code of Ethics and Business Conduct
through  appropriate  means  of  discipline.  Violations  of the  Code  shall be
promptly reported to the Audit Committee.  Pursuant to procedures adopted by it,
the Audit Committee shall determine whether violations of the Code have occurred
and, if so, shall  determine the  disciplinary  measures to be taken against any
employee or agent of the Company who has so violated the  Code.The  disciplinary
measures,  which  may be  invoked  at the  discretion  of the  Audit  Committee,
include,  but are not  limited  to,  counseling,  oral  or  written  reprimands,
warnings, probation or suspension without pay, demotions,  reductions in salary,
termination  of  employment  and  restitution.Persons  subject  to  disciplinary
measures  shall  include,  in addition to the violator,  others  involved in the
wrongdoing  such as (i)  persons  who fail to use  reasonable  care to  detect a
violation,  (ii)  persons  who if  requested  to  divulge  information  withhold
material information regarding a violation, and (iii) supervisors who approve or
condone the violations or attempt to retaliate  against  employees or agents for
reporting violations or violators.