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Gold/Mining/Energy : Alpine Oil Services ASL TSE

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To: Serge Collins who wrote (814)	8/6/1999 11:08:00 AM
From: Jason Krueger	Read Replies (2) of 896

Serge, Techcorp was never a divestiture. As has been discussed and disclosed, the two companies were, up until the end of 1996, related by virtue of having common directors and management. As stated in our press release, Goepel McDermid was engaged to prepare an independent valuation of the Techcorp common shares. These same people also prepared the valuation of Intertech Drilling Solutions (IDL-TSE) that was acquired by Precision Drilling. As I think you all are aware, Alpine is the number two player in the Canadian UBD market. Precision is number one. To maintain or even increase our marketshare, we would potentially have spent between $4.5 and $5.0 million buying more equipment from Techcorp in the next 12 to 18 months alone. Look at their profit margins. Also, for strategic purposes as stated in the press release, Alpine would acquire additional products that have only just been commercialized, that Alpine and Goepel believe hold tremendous potential. Bottom line opinion from me: anytime there is a real or perceived non-arms length transaction, somebody is going to be pissed off. I think the best measure of reaction is share price. How are we doing today? Jason Krueger toll free: (877) 474-4544

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