Localization of the drill bit while drilling for oil and gas is a prerequisite in order to explore the deposits with an optimal cost efficiency. In existing methods for positioning of the drill bit with high accuracy there is a need for either temporary complete stops or significantly reduced drilling speed with high associated cost. Guideline Oil Drilling Technology's method enables oil rig operators to position the drill bit in real time while drilling.Guideline Oil Drilling Technology's method is unique in its combination of real time, high accuracy and cost efficient determination of the position of the drill bit. The technology is protected by international patents. Currently Guideline Oil Drilling Technology is undertaking test activities with the objective to adapt the technology for specific drilling conditions, e.g. recovery of oil under specific and demanding conditions.