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THREE-FOR-TWO STOCK SPLIT APPROVED AT BETA WELL SERVICE SPECIAL SHAREHOLDER MEETING

 LEDUC, Alberta, May 26 /PRNewswire/ -- William J. Gordica, president and chief executive officer of Beta Well Service Inc. (AMEX: BWS) announced today that at a special meeting held here today, shareholders approved a three-for-two split of the company's shares. Shareholders of record on June 8, 1993, will be entitled to receive the split shares which will be paid out on approximately June 22, 1993. In addition to the common stock, the common stock purchase warrants were likewise split on the same basis as the common shares. On June 8, 1993, two common stock purchase warrants and $5 will purchase 1 1/2 shares of common stock. Fractional shares will not be issued. As of May 12, 1993, the company had 4,776,140 shares outstanding. Assuming full dilution, including exercise of warrants outstanding and options granted, there would be approximately 5,965,000 shares outstanding. Following the stock split, there will be approximately 7,162,210 shares outstanding and 8,947,500 on a fully diluted basis.
 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- 5/26/93
 /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 Services/
 (BWS)


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

EH-JB -- LA009 -- 2409 05/26/93 11:26 EDT
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Publication:PR Newswire
Date:May 26, 1993
Words:254
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