Allis-Chalmers director Bulgheroni buys more shares for 13.2% stake

By Lisa Kerner

Charlotte, N.C., July 1 - Allis-Chalmers Energy, Inc. director Alejandro Pedro Bulgheroni bought 71,839 shares of the company's stock in a privately negotiated purchase on May 19 for $3.48 per share, according to a schedule 13D/A filed with the Securities and Exchange Commission on Wednesday.

Bulgheroni and his affiliates also exercised their basic and over subscription rights in full in connection with a rights offering to acquire 5,374,827 shares for a total of $13.44 million on June 1.

The investors beneficially own 9,446,666 shares, or 13.2%, 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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