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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (11489)	6/26/1998 5:54:00 PM
From: Kerm Yerman	Read Replies (1) of 15196

SERVICE SECTOR / Alpine Oil Services Announces Sub-Contract ALPINE OIL SERVICES - UNDERBALANCED DRILLING SUBCONTRACT IN INDONESIA Date: 6/26/98 9:06:32 AM Stock Symbol: Mr. Rod Hauser, President of Alpine Oil Services, today announced that Alpine Oil Services International (Barbados) has signed a subcontract with B.J. Services Company (Singapore) Pte. Limited to provide underbalanced drilling surface flow control equipment in Indonesia. Equipment was shipped in May, and personnel have been mobilized to be dependant upon the successful application of this program's underbalanced technique to eliminate mud loss control problems, and ultimately shortening the duration of the drilling procedure. Underbalanced drilling is rapidly gaining acceptance worldwide. This practice involves decreasing the density of the drilling medium, so that the formation pressure is slightly greater than the pressure leaving the bit. This creates an underbalanced environment that stimulates production. Alpine believes that underbalanced drilling will remain one of the primary growth areas for the Corporation. The Company continues to manufacture additional underbalanced drilling packages to meet anticipated demand over the next two years.

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