read carefully about HRT -august 14th i found this from the August 2012 NR
On June 15, 2012, HRT provided notice of early termination of a services agreement with Tuscany Perfurações Brasil Ltda. ("TPB") (a subsidiary of the Company) entered into on October 27, 2010 and a rental agreement with Tuscany Rig Leasing S.A. ("TRL") (also a subsidiary of the Company) entered into on May 11, 2011, both related to Rig 115. Subsequently, on July 23, 2012, HRT provided notice of early termination of a services agreement with TPB entered into on October 27, 2010 and a rental agreement with TRL entered into on May 11, 2011, both related to Rig 116. The subject contracts had an original term of approximately four years. HRT has claimed such early termination for cause due to breaches alleged to have been committed by the Tuscany counterparties, including unsatisfactory safety and performance rates. Tuscany strongly denies the allegations and has challenged HRT's termination, in that it failed to provide details of the alleged breaches or provide Tuscany with the required curative period to remedy any alleged breach. On August 1, 2012, Tuscany invited HRT to engage in good faith negotiations within 15 days, in an effort to reach an amicable solution in respect to the termination of the contracts. HRT accepted the proposal and the first meeting is scheduled to occur on August 14, 2012. If no settlement is reached, arbitration will be available to Tuscany pursuant to which Tuscany may seek to enforce its remedies related to early termination without cause, including: (i) a $10 million fee per rental contract (total of two) if new rental contracts for the relevant rigs are not secured within 60 days as from the respective termination dates, (ii) demobilization fees in the amount of $650,000 per rig (total of two), and (iii) DTM (Demobilization, Transportation and Mobilization) rates applicable during the required 60 day prior notice period. Both rigs are currently being moved by HRT from their last drilling locations to Manaus, Brazil and are being actively marketed to a number of oil companies.
October 14th is the 60th day...