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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (6368)	5/3/1999 7:36:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24892

All / Bulletin - Precision Drilling - Computalog Big Move In The Canadian O&G Service Sector Precision Drilling Corporation (''Precision'') announced Sunday that it will make an offer for all of the issued and outstanding shares of Computalog Ltd. (''Computalog''). The basis of the offer is $8.50 cash, subject to a maximum of $45 million, or 0.35 of a Precision share per Computalog share. This offer represents a 40% premium to the 20-day weighted average trading price of Computalog on The Toronto Stock Exchange. Precision, through a wholly-owned subsidiary, currently owns 2,563,300 common shares of Computalog representing 19.8% of the issued and outstanding shares. A conference call with Mr. Swartout and other senior Precision executives to overview this offer will occur at 9:00 a.m. (Calgary time); 11:00 a.m. (Toronto time) on Monday, May 3, 1999. The conference call dial-in number is 1-888-343-1299. A taped replay of the conference call will be available later Monday afternoon for one week and can be accessed by dialing 1-800-558-5253, reservation number 1303938. REFERENCE: newswire.ca