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Gold/Mining/Energy : Alpine Oil Services ASL TSE

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To: Gerry who wrote (832)	8/16/1999 11:57:00 AM
From: Jason Krueger	Read Replies (1) of 896

August 16th, 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 OIL SERVICES AWARDED UNDERBALANCED DRILLING CONTRACT IN MEXICO Mr. Rodney Hauser, President, is pleased to announce that Alpine Oil Services Corporation has been awarded a $2.5 to $2.9 million USD contract for underbalanced drilling services in Mexico by Petroleos Mexicanos (“PEMEX”). The contract was won as part of a public international tender. The contract commences August 24, 1999 and is valid until December 31, 2001. Operations will be conducted in the states of Tabasco and Chiapas in southern Mexico. The contract is for the drilling of between 10 and 12 underbalanced wells over a 9 to 12 month period. Alpine will mobilize one of its UBD surface control packages, including the RPM System 3000TM Rotating Blowout Preventer for the drilling of these underbalanced wells. Mexico has some of the most prolific land wells in the world. All development wells in southern Mexico are candidates for underbalanced drilling due to lost circulation problems and formation damage. PEMEX intends to drill all land development wells in Southern Mexico in underbalanced or near balanced conditions.

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