ALLIANCE WELL <AWSI.O> SAYS NOT ALL BANKS AGREE
Alliance Well Service Inc said
not all of its five principal lending banks have agreed yet to
the proposed settlement of Alliance debt that the company
announced April 15.
    The company said some important points still need to be
negotiated in the agreement, as well.
    Under the agreement, all 29.3 mln dlrs of its bank debt,
plus related interest, would be eliminated, the banks would
recieve common stock and the company would not challenge the
banks' foreclosure of its 119 drilling rigs.
 Reuter
