Wenzel Downhole Tools Ltd (WZL) - was Master Downhole Message Board

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Gold/Mining/Energy : Wenzel Downhole Tools Ltd (WZL) - was Master Downhole

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To: Murray Nightingale who wrote (60)	7/14/1999 1:30:00 PM
From: Robert Raymond	Read Replies (1) of 104

Murray or anyone else: Any clues as to who the mystery Calgary company being sought might be? ---------- NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: HYDUKE RESOURCES LTD. ASE SYMBOL: HYD JULY 13, 1999 Hyduke Resources Ltd. Proposed Acquisition EDMONTON, ALBERTA--Hyduke Resources Ltd. (ASE:HYD). is pleased to announce that it has entered into an agreement in principle to purchase the shares or assets of an arm's length corporation in Calgary, Alberta. The prospective acquisition is an established company, which has been in business for more than 20 years, specializing in fabrication and hi-tech machining. The company has a 30,000 square foot operating facility which is one of the largest in southern Alberta. It also manufactures proprietary percussion drilling bits, under reamers and stabilizers. The percussion drilling bit technology is patented and is currently sold worldwide. The due diligence process is currently in progress and the acquisition will be subject to approval of the Hyduke Board of Directors and regulatory authorities. There is no assurance that the discussions will lead to a definitive agreement. Hyduke also announces that effective November 9, 1998, it has changed its name from Hyduke Capital Resources Ltd. to Hyduke Resources Ltd. Hyduke Resources Ltd. provides a broad range of products, service and equipment to oil and gas, forestry and mining sectors. Hyduke divisions include B. W. Rig Repair & Supply, Reliable Airflow Sales & Service, and CanWest Crane and Equipment. ---------- regards Robert Raymond

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