Foraco International to Purchase Connors Drilling


    French Company to Leverage Canadian Assets to Compete in Global Drilling
    Bonanza

    VANCOUVER, Feb. 1 /CNW/ - Foraco International, a global drilling
services company based in France, announced today that it has acquired the
Canadian operations of Connors Drilling Ltd., a privately owned exploration
drilling company based in Kamloops, British Columbia with branch offices in
Yellowknife, NWT. The deal brings from 9 to 34 the total number of rigs owned
and operated by Foraco in Canada. The Connors Drilling acquisition adds
approximately $15 million in revenue to Foraco.
    Connors Drilling, employing 140 people, is one of Canada's best known
drilling companies, providing surface and underground diamond drilling
services to the mining industry for over 50 years. All Connors Drilling
Canadian employees will become part of Foraco Canada.
    In a joint statement issued today, Jean-Pierre Charmensat and Daniel
Simoncini, Foraco International co-Presidents, said, "The acquisition of
Connors Drilling Ltd. adds significant depth to our existing operations in
North America. Canadian Senior Vice President, Tim Bremner added, "We are in a
better position to service our Canadian customers and have established a
broader base of operations from which we can offer a full range of drilling
competencies including air and mud rotary, large diameter flooded reverse and
water well drilling."
    Jamie Hutton, Connors Drilling Ltd. General Manager, said, "As the
premier supplier of diamond drilling services in Western Canada, we are
excited to work with a global leader like Foraco, helping them expand their
offering of drilling services in Canada and strengthening their position in
North America."
    In 2006, France-based Foraco International made its first foray into
Canada, establishing Foraco Canada Ltd. based in Ontario to provide diamond
drilling services to the mining industry in North America. Foraco Canada has
been growing rapidly and with the Connors Drilling acquisition is in a
position to meet the rapidly growing exploration demands of the mining
industry nationally and abroad.

    About Foraco International

    Foraco International is a privately owned drilling company headquartered
in Marseille, France. The company operates throughout the world providing a
diverse range of drilling services for the water and mineral resource
industries.

    About Connors Drilling

    Connors Drilling is the Canadian division of the Connors Drilling Group
which operates subsidiary companies in Chile and Argentina. Based in Kamloops,
British Columbia and with branch offices in Yellowknife, NWT, Connors Drilling
is one of Canada's best known drilling companies, providing surface and
underground diamond drilling services to the mining industry for over 50
years.




For further information: Foraco Canada Ltd., Tim Bremner, Telephone:
(705) 499-8999, bremner@foraco.com; Fleishman Hillard, Jennifer Torney,
Telephone: (604) 688-2505, jennifer.torney@fleishman.ca