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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (84800)	1/19/2001 7:16:11 PM
From: Big Dog	Respond to of 95453

If anyone took a shine to the littel Canadian company I posted about a few days ago, you may be interested in this share buy-back announcement: CALGARY, Jan. 18 /CNW/ - Effective January 24, 2001, IPEC Ltd. ("IPEC") filed a Notice of Intention to Make a Normal Course Issuer Bid (the "Notice") with The Toronto Stock Exchange (the "TSE") pursuant to which IPEC will make a Normal Course Issuer Bid for up to 2,521,814 of its outstanding Common Shares on the terms set forth in the Notice. IPEC believes that the underlying value of its Common Shares is not reflected in the current market price and accordingly believes that the share purchase program provides value by reducing the number of shares outstanding. IPEC will make normal course purchases through the facilities of the TSE in accordance with the Notice. On the date that the Notice was filed, 52,610,317 Common Shares of IPEC were outstanding. Under the rules of the TSE, during the period commencing on January 24, 2001 and ending on January 23, 2002, IPEC may acquire approximately 5% being up to 2,521,814 of the presently issued and outstanding Common Shares. Any shares purchased pursuant to the Notice will be purchased at the market price of the shares at the time of purchase. Any shares purchased pursuant to the Notice will be cancelled and returned to treasury. A copy of the Notice may be obtained by any shareholder without charge by contacting the Corporate Secretary of IPEC at 700, 300 - 5th Avenue S.W., Calgary, Alberta, T2P 3C4, phone: 403-215-5499, facsimile: 403-215-5445. IPEC Ltd. is an oilfield services company headquartered in Calgary, Alberta providing small and medium diameter pipeline and oilfield construction and other oilfield services. IPEC Ltd. is listed on the Toronto Stock Exchange under the ticker symbol IPE.