A method for forming holes in the wall of a submerged tank and removing liquid material therefrom. First and second holes are first formed in the wall of the tank wherein the first hole is positioned higher than the second hole. The holes are formed in such a manner as to prevent the liquid material from escaping the tank and contaminating a liquid body surrounding the tank. The liquid material is pumped out from one of the holes while the liquid surrounding the submerged tank enters the other of the holes. The holes are formed by using an air drill which is mounted on a spring-loaded frame within a cone-shaped housing, wherein the base of the cone-shaped housing is fastened to a side of the tank. The drill is positioned along the center line of the cone while the hole is being formed and the spring-loaded frame carries the drill away from the center line of the cone after the hole is formed, if access to the formed hole is desired.