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Gold/Mining/Energy : Tusk Energy (TKE)

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To: Robert McCullough who wrote (1042)	1/21/1999 3:41:00 PM
From: Elmer Flugum	Read Replies (1) of 1207

JANUARY 21, 1999 TUSK Announces Normal Course Issuer Bid CALGARY, ALBERTA--TUSK Energy Inc. (TKE:TSE) intends to acquire up to 940,000 issued common shares in its capital by way of a normal course issuer bid on the facilities of The Toronto Stock Exchange. The proposed acquisition represents approximately 10 percent of the public float in TUSK common shares. TUSK currently has 10,466,584 common shares issued and outstanding. The total amount of the public float is 9,403,999. The bid will commence on January 25, 1999 and will terminate 12 months thereafter on January 24, 2000. The normal course issuer bid has been put in place by the Corporation because the directors believe that the Corporation's common shares are undervalued in the market and are a good investment at current and recent prices. All common shares purchased by TUSK through the normal course issuer bid will be returned to treasury for cancellation. -30- FOR FURTHER INFORMATION PLEASE CONTACT: TUSK Energy Inc. Norman W. Holton President (403) 264-8875 (403) 263-4247 (FAX) tusk-energy.com tusk@tusk-energy.com

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