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BETA WELL SERVICE INC. ANNOUNCES EXPANSION OF RUSSIAN WELL SERVICE AGREEMENTS

 Two Contracts Add 654 Wells to Backlog;
 10 Service Rigs in Operation by Third Quarter
 LEDUC, Alberta, March 15 /PRNewswire/ -- William J. Gordica, president and chief executive officer of Beta Well Service Inc. (AMEX: BWS), announced today that the company has signed two new contracts providing for the servicing of 654 additional oil and gas wells in Western Siberia.
 The first contract for 386 wells modifies and extends an initial 500-well agreement signed in May 1992. Of the 500 wells, approximately 300 have been successfully serviced to date.
 The second contract for 268 wells is in a new region of Western Siberia, governed by a separate Russian oil and gas production association.
 Two of the six service rigs presently operating in Russia are servicing the first add-on contract. The second contract will be serviced by four rigs now in transit, bringing the total number operating in Russia to 10. Work on the second contract is expected to commence in the third fiscal quarter, beginning in April 1993.
 "These contracts add substantially to our backlog of wells to be serviced in Russia and broadens the scope of our activities into another vast producing region. We believe that the quality of our efforts and the skill of our people continue to position us favorably for additional contracts."
 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- 3/15/93
 /CONTACT: William J. Gordica, president and CEO of Beta Well Service, 403-290-0585; or William F. Coffin of Coffin Communications, 818-789-0300, for Beta Well Service/
 (BWS)


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

JL-MS -- LA009 -- 5897 03/15/93 09:04 EST
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Publication:PR Newswire
Date:Mar 15, 1993
Words:302
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