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Gold/Mining/Energy : Big Bear Exploration BDX

BDX 177.30

-0.8%

Nov 3 9:30 AM EST

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To: Tupulak who wrote (18)	1/9/1999 1:31:00 AM
From: Tupulak	Read Replies (1) of 77

Canadian Company Press Release BDX 1999-01-08 (provided courtesy of Canadian Corporate News.) register to receive future releases by email from CCN Big Bear Exploration Ltd. Extends its Offer 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 approximately 89.3 percent of the outstanding common shares of Blue Range Resource Corporation have been tendered and taken up under Big Bear's Offer for all of the outstanding Blue Range common shares. Big Bear has also extended its offer to 3:00 p.m. (Calgary Time) on January 22, 1999. This extension will allow the remaining Blue Range shareholders to tender their shares following the 11 for 1 consolidation of Big Bear's shares which is expected to be implemented at the Special Meeting of Big Bear Shareholders scheduled for January 19, 1999. As a result, based on current stock market values, Blue Range shareholders who hold their shares in margin accounts should be able to tender their shares following the share consolidation on January 19, 1999 and receive in exchange 1 consolidated Big Bear share for each Blue Range share and thereby not adversely affect their ability to hold the consolidated Big Bear shares in their margin accounts. 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 J. Lebbert Senior Vice-President & C.O.O. (403) 231-2494 or Big Bear Exploration Ltd. James W. Surbey Senior Vice-President, Corp. Development (403) 231-6434

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