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DI INDUSTRIES SUBSIDIARY PURCHASES BRANHAM ASSETS

 HOUSTON, May 12 /PRNewswire/ -- DI Industries, Inc., (AMEX: DRL) (the "company") announced today that its wholly owned subsidiary, Alamo Machine & Tool Company ("Alamo"), had purchased certain assets from the Trustee for Branham Industries, Inc., ("Branham").
 The assets purchased included all of the original manufacturing and assembly drawings relating to all of the oil and gas drilling rig equipment that Branham manufactured, as well as the right to the name "Branham Industries," all trademark registrations and applications, service marks, trade names, copyright registrations and applications, patents, patent applications and registrations, license rights, and contract rights.
 Alamo will immediately begin to market replacement and spare parts for the Branham oil and gas rig equipment running throughout the United States and internationally.
 Max M. Dillard, president, stated "This acquisition will give Alamo the sole right to manufacture, assemble and distribute all of the Branham equipment on a worldwide basis. Known worldwide as a premier rig manufacturer, Branham has built rigs and equipment which have many proven designs in service. This will also enhance the company's future in expanding the supply capabilities of Alamo with a proven product line. Alamo plans to capitalize on the increased international activity with this technology and the sales of rig support equipment for other drilling contractors in the U.S."
 DI Industries, Inc., provides contract drilling and well workover services to firms in the oil and gas industry, geothermal drilling, commercial drilling, oil and gas exploration and production, and equipment repair and sales. The company has in excess of 100 rigs in 14 states, Argentina and Guatemala. The common stock of the company trades on the American Stock Exchange under the symbol, "DRL."
 -0- 5/12/93
 /CONTACT: David J. Cone, financial vice president of DI Industries, Inc., 713-874-0202/
 (DRL)


CO: DI Industries, Inc. ST: Texas IN: OIL SU: TNM

SH -- NY034 -- 7465 05/12/93 10:18 EDT
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Publication:PR Newswire
Date:May 12, 1993
Words:311
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