Allis-Chalmers director buys shares from CEO

By Lisa Kerner

Charlotte, N.C., Feb. 23 - Allis-Chalmers Energy, Inc. director Alejandro Pedro Bulgheroni bought 645,000 shares of the company's stock from the company's chairman and chief executive officer, Munawar H. Hidayatallah, in privately negotiated transactions on Feb. 13, Feb. 19 and Feb. 20.

The shares were priced from $2.25 to $2.67 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Bulgheroni beneficially owns 3,856,000 shares, or 10.9%, of the company's outstanding stock.

Houston-based Allis-Chalmers provides services and equipment to oil and natural gas exploration and development companies.

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