Big Bear Acquiring Blue Range Resources Message Board

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Gold/Mining/Energy : Big Bear Acquiring Blue Range Resources

BDX 179.37

-1.2%

Oct 30 3:59 PM EDT

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To: Jimsy who wrote ()	1/3/1999 2:35:00 PM
From: Jimsy	Read Replies (1) of 2

Big Bear Exploration Ltd. Takes up Over 85 Percent of The Shares of Blue Range Resource Corporation canada.bigcharts.com CALGARY, ALBERTA-- THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Big Bear Exploration Ltd. announced today that it has taken up 29,820,419 shares of Blue Range Resource Corporation which were deposited pursuant to Big Bear's take-over bid which offered 11 Big Bear shares for each Blue Range share. As a result Big Bear now owns approximately 85.2 percent of Blue Range's outstanding shares. Big Bear also announced that in view of the holiday season it had extended the expiry time for its offer to purchase Blue Range shares until 3:00 p.m., Calgary time, on Friday, January 8, 1999 in order to give the remaining Blue Range shareholders sufficient time to tender their shares. Within 10 days of additional Blue Range shares being tendered under the offer, Big Bear will take up the tendered shares and issue Big Bear shares in exchange therefor. Big Bear Exploration Ltd. is a Calgary based oil and gas company listed on The Toronto Stock Exchange under the symbol "BDX". -30- FOR FURTHER INFORMATION PLEASE CONTACT: Big Bear Exploration Ltd. Rod Lebbert Senior Vice-President & Chief Operating Officer (403) 231-2494 or Big Bear Exploration Ltd. James W. Surbey Senior Vice-President, Corporate Development (403) 261-6416

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