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Gold/Mining/Energy : CDN. Oil/Gas Cos. - Shareholder Maximization -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (15)	3/18/2001 8:11:09 PM
From: gilbert leblanc	Respond to of 56

About Delaney, it was mentioned in my newsletter in February, like Alliance Energy, d'ailleurs. theinsideredge.com On news, an extract of the February letter. Yours truly, Gilbert

To: Richard Saunders who wrote (15)	5/18/2001 1:14:40 AM
From: Richard Saunders	Respond to of 56

DLY-cdnx Delaney gone Apr30 & Accepts IPS Offer fin-info.com Delaney Energy Board of Directors Recommends Acceptance of IPS Offer CALGARY, ALBERTA--Delaney Energy Services Corporation ("Delaney") announced today that its process to maximize shareholder value has not to date produced a superior alternative capable of being presented to the shareholders at this time. Through this value maximization process, Delaney and its financial advisor had contacted or been contacted by, numerous qualified parties in the United States and Canada to review the possibility of a merger with, or acquisition of, Delaney. Several qualified parties have been through the data room and Delaney has received proposals from some of these parties. The Special Committee and the Board of Directors have reviewed the proposals and have determined that the Integrated Production Services Ltd. ("IPS") offer to acquire all of the issued and outstanding common shares of Delaney (the "Offer") is superior to the other proposals at this time. The basis of the Offer made March 21, 2001, as extended, is $1.05 cash for each Delaney common share. After reviewing and considering the Offer and having received financial advice from Raymond James Ltd., both the Special Committee of Delaney and Delaney's Board of Directors have recommended that shareholders accept the Offer and tender their common shares of Delaney to the Offer. The Board of Directors has also determined to waive the application of Delaney's Shareholder Rights Plan to the purchase of common shares of Delaney by IPS under the Offer, effective at 1:00 a.m. May 1, 2001 (Calgary time). Delaney Energy Services Corporation is an integrated service company serving the western Canadian oil and gas industry.