Ensign's Successful Offers for AOG Close
ENSIGN TO PROCEED TO COMPULSORY ACQUISITION OF OUTSTANDING AOG SHARES AND AOG OPTIONS
CALGARY, July 24 /CNW/ - Ensign Resource Service Group Inc. is pleased to announce its wholly-owned subsidiary, Ensign (Australia) Holdings Pty Limited ("Ensign"), has increased its relevant interest in Australian Oil & Gas Corporation Limited ("AOG") fully paid ordinary shares ("AOG Shares") to 96.4%. Ensign has also increased its holding of ASX quoted AOG options ("AOG Options") to 96.2%.
Selby Porter, President of Ensign Resource Service Group Inc. stated "The successful acquisition of AOG is an important step in the development of the Ensign's Group's international oilfield services operations. We welcome the management and employees of AOG to the Ensign Group, and look forward to capitalising on the Ensign Group's global growth opportunities."
Ensign's successful offers have now closed. Ensign is entitled to, and will now proceed to compulsory acquisition of the remaining outstanding AOG Shares and AOG Options.
Ensign Resource Service Group Inc. is an international oilfield services contractor based in Calgary, Alberta. The Ensign Group's Common Shares (symbol: ESI) are publicly traded through the facilities of The Toronto Stock Exchange.
%SEDAR: 00001999E -0- 07/24/2002
/For further information: Glenn Dagenais, Vice President Finance, Ensign Resource Service Group Inc., Telephone: (403) 262-1361; To request a free copy of this organization's annual report, please go to http://www.newswire.ca and click on reports(at)cnw./
CO: Ensign Resource Service Group Inc. ST: Alberta IN: OIL SU:
-0- Jul/24/2002 23:13 GMT