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BETA WELL SERVICE INC. ANNOUNCES 3-FOR-2 STOCK SPLIT

 LEDUC, Alberta, March 29 /PRNewswire/ -- William J. Gordica, president and chief executive officer of Beta Well Service Inc. (AMEX: BWS), announced today that the board of directors has approved a 3-for-2 split of the company's common shares.
 The 3-for-2 stock split will require shareholder approval at a special


meeting scheduled for May 26, 1993. The record and payment dates for the stock split will be determined in the near future.
 Because of the split of the common shares, the common stock purchase warrants will likewise be split on the same basis as the common shares. Presently, two warrants are required to purchase one share of common stock at an exercise price of $5.00. On the effective date of the split, two common stock purchase warrants and $5.00 will purchase 1 1/2 shares of common stock. However, fractional shares will not be issued.
 As of Dec. 31, 1992, the company had 3,310,000 shares outstanding. Assuming full dilution, including the exercise of warrants outstanding and options granted, there would be approximately 5,655,000 shares outstanding. Following the stock split, there would be 4,965,000 shares outstanding, and 8,482,500 on a fully diluted basis.
 Gordica commented on the proposed split saying, "We believe that this stock split is in the best interest of the company's shareholders, and will increase the liquidity in the trading market for its common shares"
 Beta Well Service provides well servicing, workovers and completion services to both major and independent oil companies in Canada and most recently, has commenced providing similar services within the Republic of Russia, through a 75 percent owned subsidiary.
 -0- 3/29/93
 /CONTACT: William J. Gordica, president and CEO of Beta Well Service, 403-290-0585; or William F. Coffin of Coffin Communications Group, 818-789-0300, for Beta Well Service/
 (BWS)


CO: Beta Well Service Inc. ST: Alberta IN: OIL SU:

BP-JB -- LA007 -- 0359 03/29/93 09:06 EST
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Publication:PR Newswire
Date:Mar 29, 1993
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