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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (8002)12/17/1997 4:19:00 PM
From: Arnie  Read Replies (4) of 15196
 
SERVICE SECTOR / Artisan Corp. to acquire Coiled Tubing Operations

CALGARY, Dec. 17 /CNW/ - ARTISAN CORPORATION (TSE: ADR) announces that it
has signed letters of intent to acquire the assets of Continuous Tubing Ltd.
and Pretec Energy Services Inc. Both companies are Alberta based and
privately held. They have extensive experience in providing coiled tubing
services to the oil and gas industry. Artisan expects both transactions to
close on December 29, 1997.

Artisan will enter the coiled tubing business with a total of 11 coiled
tubing units and employ all of the operational managers and field staff of
Continuous Tubing and Pretec. Upon the successful integration of these
acquisitions, Artisan intends to increase its presence in the coiled tubing
business.

Artisan Corporation is an oil and gas service company based in Western
Canada which provides drilling, well servicing, wireline, production testing,
well optimization services, and manufactures production equipment.
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