Foraco announces normal course issuer bid


    TORONTO, ON/MARSEILLES, France, Oct. 1 /CNW/ - Foraco International SA
(TSX: FAR) (the "Company" or "Foraco") today announced that the Toronto Stock
Exchange (the "TSX") has accepted for filing the Company's Notice in respect
of a normal course issuer bid (the "NCIB") to be transacted through the
facilities of the TSX.
    Pursuant to the NCIB, Foraco may purchase up to 1,000,000 of its common
shares (the "Shares") representing approximately 1.67% of the total 59,743,000
common shares of the Company issued and outstanding as at September 30, 2008.
Purchases will be made at prevailing market prices, commencing October 3, 2008
and ending October 2, 2009. Pursuant to TSX policies, daily purchases made by
the Company will not exceed 1,934 common shares, other than block purchase
exceptions. The Company intends to hold the Shares, until the same are
required to be transferred to employees to satisfy the Company's obligations
in respect of grants made by Foraco to its employees under the Company's free
share plans, or for the purpose of potential acquisitions by Foraco.
    Since listing on the TSX in August of 2007, Foraco repurchased 1.5
million common shares from a single non-resident shareholder. On September 26,
2008, Foraco used 1.15 million of these repurchased common shares as partial
consideration in completing its acquisition of Northwest Sequoia Drilling Ltd.
    A copy of the Company's Notice filed with the TSX may be obtained, by any
shareholder without charge, by contacting Foraco's Vice-Chief Executive
Officer and Chief Financial Officer, Jean-Pierre Charmensat.
    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.

    About Foraco

    Foraco (TSX: FAR) is a worldwide drilling service provider headquartered
in Marseille, France. The Company provides a diverse range of drilling
services to the minerals, energy, water, environmental and infrastructure
sectors. The Company currently operates 117 drilling rigs, with a presence in
18 countries across five continents. For more information about Foraco, visit

    Caution concerning forward-looking statements

    This press release may contain "forward-looking statements" and
"forward-looking information" within the meaning of applicable securities
laws. These statements and information include estimates, forecasts,
information and statements as to management's expectations with respect to,
among other things, the future financial or operating performance of the
Company and capital and operating expenditures. Often, but not always,
forward-looking statements and information can be identified by the use of
words such as "may", "will", "should", "plans", "expects", "intends",
"anticipates", "believes", "budget", and "scheduled" or the negative thereof
or variations thereon or similar terminology. Forward-looking statements and
information are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Readers are cautioned that any such forward-looking statements
and information are not guarantees and there can be no assurance that such
statements and information will prove to be accurate and actual results and
future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed under the heading
"Risk Factors" in the Company's Annual Information Form dated March 31, 2008,
which is filed with Canadian regulators on SEDAR ( The Company
expressly disclaims any intention or obligation to update or revise any
forward-looking statements and information whether as a result of new
information, future events or otherwise. All written and oral forward-looking
statements and information attributable to us or persons acting on our behalf
are expressly qualified in their entirety by the foregoing cautionary

    %SEDAR: 00025480E

For further information:

For further information: Bruce Wigle, Investor Relations, The Equicom
Group, T: (416) 815-0700 or 1-800-385-5451, ext. 228, F: (416) 815-0080, E:

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