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Gold/Mining/Energy : Alpine Oil Services ASL TSE

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To: Gerry who wrote (810)	7/30/1999 3:17:00 PM
From: Jason Krueger	Read Replies (1) of 896

July 30th, 1999 “ASL” - Toronto Stock Exchange Investor Relations: Jason Krueger Toll Free: (877) 474-4544 Telephone: (403) 263-7800 www.alpineoil.com Invest@alpineoil.com ALPINE COMPLETES DRILL STEM TESTING ACQUISITIONS Mr. Rodney Hauser, President and Chief Executive Officer of Alpine Oil Services Corporation, is pleased to announce the acquisition of Quinn Testers Ltd. and the purchase of the drill stem testing assets of McAllister Petroleum Services. Located in Edmonton and Grande Prairie, Alberta, Quinn Testers Ltd. was a privately owned and operated drill stem testing company that was established in 1973. The acquisition of Quinn and McAllister's DST assets are expected to increase Alpine's drill stem testing revenues to $7.0 million in 1999. Alpine's fleet of drill stem testing and telemetry units has increased to 35. Alpine is now the largest provider of drill stem testing and telemetry services in North America, and holds approximately 55% of the Canadian market share for drill stem testing and 75% of the telemetry market share. These acquisitions are strategically important to Alpine for three reasons. Significant synergies are anticipated with the increased customer base, as Alpine's telemetry services will now be offered to Quinn's clients. Alpine's and Quinn's respective lists of top 10 accounts are completely different, allowing Alpine access to those accounts which it previously performed few services for. Quinn will operate as a subsidiary of Alpine, and all McAllister assets will be operated and managed by Quinn, whom have a highly-regarded reputation. Alpine is currently evaluating additional acquisition / consolidation opportunities.

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