An apparatus for boring a wellbore, the wellbore containing a workstring concentrically positioned therein, the apparatus comprising: a bit with a first end, a second end, and a central bore extending from the first end to the second end of the bit, the second end of the bit including a working face containing a cutting member (16, 18, 20, 22); a pilot bit including a first end and a second end, the second end of the pilot bit including an engaging surface configured to engage a formation surrounding the wellbore; the apparatus comprising: an upper member having a first end, an inner cavity, and a second end, the first end of the upper member being connected to the workstring, the workstring configured to deliver a rotational force to the upper member, the inner cavity of the upper member containing a profile having a first radial cam surface; wherein the first end of the bit is operatively connected to the second end of the upper member, and wherein the bit is configured to rotate with a rotation of the upper member; wherein the pilot bit is rotatively connected within the inner cavity of the upper member and extends through the central bore of the bit beyond the working face of the bit, and wherein the first end of the pilot bit includes a second radial cam surface; characterized by at least two rolling elements (460, 462) disposed in inner cavity between and in contact with radial cam surface of upper member and radial cam surface of pilot bit wherein each of the at least two rolling elements (460, 462) includes a spherical outer surface, and (i) when two rolling elements (460, 462) are disposed between and in contact with the first radial cam surface and the second radial cam surface, the at least two rolling elements (460, 462) are configured to be in direct contact with one another, and wherein a diameter of each of the at least two rolling elements (460, 462) is approximately equal to one-half of an inner diameter of the inner cavity, and (ii) when the at least two rolling elements (460, 462) comprises three or more rolling elements, each of the rolling elements is in contact with two adjacent rolling elements, and wherein the first radial cam surface comprises an undulating waveform profile and the second radial cam surface comprises either an undulating waveform profile or a radial flat surface, or wherein the second radial cam surface comprises an undulating waveform profile and the first radial cam surface comprises either an undulating waveform profile or a radial flat surface; and wherein the upper member and the bit rotate relative to the pilot bit thereby causing the at least two rolling elements (460, 462) to move over the first and second radial cam surfaces (422, 456) resulting in axial movement of the pilot bit relative to the upper member and bit. an upper member having a first end, an inner cavity, and a second end, the first end of the upper member being connected to the workstring, the workstring configured to deliver a rotational force to the upper member, the inner cavity of the upper member containing a profile having a first radial cam surface; wherein the first end of the bit is operatively connected to the second end of the upper member, and wherein the bit is configured to rotate with a rotation of the upper member; wherein the pilot bit is rotatively connected within the inner cavity of the upper member and extends through the central bore of the bit beyond the working face of the bit, and wherein the first end of the pilot bit includes a second radial cam surface; characterized by at least two rolling elements (460, 462) disposed in inner cavity between and in contact with radial cam surface of upper member and radial cam surface of pilot bit wherein each of the at least two rolling elements (460, 462) includes a spherical outer surface, and (i) when two rolling elements (460, 462) are disposed between and in contact with the first radial cam surface and the second radial cam surface, the at least two rolling elements (460, 462) are configured to be in direct contact with one another, and wherein a diameter of each of the at least two rolling elements (460, 462) is approximately equal to one-half of an inner diameter of the inner cavity, and (ii) when the at least two rolling elements (460, 462) comprises three or more rolling elements, each of the rolling elements is in contact with two adjacent rolling elements, and (i) when two rolling elements (460, 462) are disposed between and in contact with the first radial cam surface and the second radial cam surface, the at least two rolling elements (460, 462) are configured to be in direct contact with one another, and wherein a diameter of each of the at least two rolling elements (460, 462) is approximately equal to one-half of an inner diameter of the inner cavity, and (ii) when the at least two rolling elements (460, 462) comprises three or more rolling elements, each of the rolling elements is in contact with two adjacent rolling elements, and wherein the first radial cam surface comprises an undulating waveform profile and the second radial cam surface comprises either an undulating waveform profile or a radial flat surface, or wherein the second radial cam surface comprises an undulating waveform profile and the first radial cam surface comprises either an undulating waveform profile or a radial flat surface; and wherein the upper member and the bit rotate relative to the pilot bit thereby causing the at least two rolling elements (460, 462) to move over the first and second radial cam surfaces (422, 456) resulting in axial movement of the pilot bit relative to the upper member and bit.