August 4th, 1999
“ASL” - Toronto Stock Exchange
Investor Relations: Jason Krueger
Toll Free: (877) 474-4544
Telephone: (403) 263-7800
Internet: www.alpineoil.com
Email: invest@alpineoil.com
ALPINE MAKES OFFER TO ACQUIRE GULF TECHNOLOGIES INT'L L.C.
Mr. Rodney Hauser, President, today announced that Alpine Oil Services Corporation has made an offer to purchase Houston-based Gulf Technologies International L.C. (GTI). The offer is subject to completion of due diligence and regulatory approval. Terms of the transaction will be disclosed upon successful closing of this transaction.
GTI provides turn-key design and product development services to manufacturers, major service companies and oil and gas companies operating throughout international oil and gas markets. GTI has played a significant role in the development of a number of Alpine's proprietary products. GTI presently specializes in:
 underbalanced drilling well control equipment
 downhole and sub-sea safety systems and controls
 sub-sea completion intervention equipment
 downhole completion equipment
 drill stem testing equipment
 tubing conveyed perforating equipment
 specialty wireline and electricline tools
 downhole and sub-sea electro-mechanical tools
 coiled tubing, wireline and well testing surface pressure control equipment
 offshore wireline, wireline BOP control and grease injection units
 chemical injection units
This strategic acquisition allows Alpine the opportunity to rapidly design and develop additional proprietary products for sale and use in specialized markets worldwide, and the opportunity to market GTI's existing product lines. The acquisition of GTI is expected to provide fairly dramatic cost savings to Alpine, as third party engineering costs will no longer be incurred. Alpine currently invests approximately 4% of its annual gross revenue on research and development activities.
During the product design and development phase, GTI utilizes computer aided design, 3D parametric design and linear finite element analysis to enhance and optimize the product. Once developed, solid modeling and kinematic animation can be used for product visualization and operational evaluation. All projects are available in digital format suitable for use with advanced rapid prototyping equipment and CNC manufacturing equipment.
The final product of any turn-key project with GTI yields a complete manufacturing product file tailored to integrate with the client's system. Manufacturing and quality control specifications are prepared to meet the requirements for “case by case” and “type approval” design certification by DNV or other certifying authorities, where necessary to meet legislative requirements.
In addition to its engineering services, GTI has developed and owns a line of completion and production products, including retrievable and permanent-set packer and production systems, together with tubing conveyed perforating accessories for extreme environments. Alpine will take over manufacturing and marketing of these products. |
