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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (8715)1/30/1998 1:00:00 PM
From: Arnie   of 15196
 
SERVICE SECTOR / Bonus Resources acquires 13 Service Rigs

CALGARY, Jan. 29 /CNW/ - Bonus Resource Services Corp. (Bonus) is pleased
to announce that it has reached an agreement to purchase the assets of Canuck
Well Servicing Ltd. (Canuck).

The assets purchased include 13 service rigs and associated equipment
operating mainly in North Central Alberta from bases in Nisku and Slave Lake.
The all cash transaction is set to close January 30, 1998 with an effective
date of February 1, 1998. This acquisition complements Bonus' existing
position in the Slave Lake/Red Earth region.

This is the tenth acquisition completed by Bonus since October, 1996 and
reinforces Bonus' dominance in the consolidation of service rig operations
across Western Canada.

Additionally, Bonus confirms that its previously announced acquisition of
Superior Well Servicing PTY Ltd. of Brisbane, Australia has been completed
upon receiving final approval from the Australian Foreign Investment Review
Board.

The addition of these service rigs brings Bonus' current fleet to 154
service rigs and seven swabbing units in Canada, as well as seven service rigs
operating through its subsidiary in Australia. Bonus is the largest service
rig operator in Western Canada trading under the symbol BOU on the Toronto
Stock Exchange.
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