Step by step from ST Drums Website where I learned about the Eyelet Installation Tool originally;
Eyelet Tool Installation Method:
put the eylet in the hole in the drum shell
put the bolt through the hole, from the inside to the outside
put the nylon washer on the bolt (outside of the shell of course)
put the metal washer on the bolt
put the nut on the bolt
Use a screwdriver or allen wrench to hold the bold inside the drum shell
Use a wrench to turn the nut on the outside of the shell
After using some force the cone shaped head of the bolt forces the
inner edge of the eylet outwards Go easy on turning the spanner - small steps at a time and check
to see if the inside rim of the eylet is bent enough already -
otherwise give it a little more force
sandman attached the following image(s):