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Gold/Mining/Energy : Alpine Oil Services ASL TSE

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To: Jason Krueger who wrote (851)	10/13/1999 9:37:00 AM
From: Jason Krueger	Read Replies (1) of 896

October 12, 1999 ALPINE OFFER FOR TECHCORP SUCCESSFUL Alpine Oil Services Corporation (TSE - ASL) today announced that pursuant to its previously announced offer to purchase all of the issued and outstanding common shares of Techcorp Industries Inc. (ASE – TCA), it has taken up a total of 14,380,058 Techcorp common shares representing approximately 91.94 % of those outstanding. Alpine will initiate steps to complete the acquisition of the remaining outstanding Techcorp shares pursuant to the compulsory acquisition provisions of the Alberta Business Corporations Act. There is a considerable amount of synergy associated with combining Alpine and Techcorp. Alpine possesses substantial expertise and experience in underbalanced drilling as well as access to an established oilfield service customer base, while Techcorp possesses a suite of technologically advanced, proprietary oilfield tools that are geared towards underbalanced drilling. As a result, this acquisition should provide Alpine with a competitive advantage in further developing its underbalanced drilling business.

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