What to expect - Nov 2nd -update Here is some info but due your own due diligence before investing..
List of clients
1. OGX oil and gas https://www.ogx.com.br/en/quem-somos/Pages/default.aspx
2. V.PTA (Petroamericas) https://www.petroamericaoilcorp.com/main/index.php?id=home
3. petrobas https://www.petrobras.com.br/en/
4. Total (in Uganda) https://www.total.com/en/home-page-940596.html
5. Grand Tierra (Peru) https://www.grantierra.com/
6. Maurel et Prom https://www.maureletprom.fr/index.php?lang=en
7. Perenco https://www.perenco.com/
8. Tullow https://www.tullowoil.com/
9.0 GALP https://www.galpenergia.com/EN/Paginas/Home.aspx (NEW) based on March 2011 report
2. Q3 results ...
sometime in Noveber2012... google says Nov 5th, 2012
3. Operating Fleet -41 rigs
https://www.tuscanydrilling.com/html/operations/fleet.html
4. Corporate Presentation - September 2012
https://www.tuscanydrilling.com/html/investor_relations/documents/TuscanyCorporatePresentationSeptember2012.pdf
5. Net Book Value
1.32 per share as per company records
6. Acquistion of other Drilling companies
1. Drilfor and 2. Caroil
7. Debt
refinanced their debt in September 2012 .....gradual installments starting in 2013
let me know if there is anything else to add
check out sedar.com for payment schedule...
8.0 Harvesting of stock
most noticibale from Merril Lynch, Macdougal bought alot...TD big Cross
9.0 Q3 Financials
To be out on Nov 8th
10.0 Q2 results
Q2 2012 Highlights
- Net income was $1.3 million during the second quarter compared to a loss of $3.1 million during the same period in 2011, an increase of 141%. Net income during the first quarter 2012 was $275 thousand.
- Funds from operations1 were $11.6 million during the second quarter compared to funds from operations of $0.9 million during the same period in 2011, an increase of 1,198%. Funds from operations during the first quarter 2012 were $13.7 million.
- The Company recorded revenue of $85.2 million during the second quarter compared to $29.8 million during the same period last year, an increase of 185%. Revenue during the first quarter 2012 was $94.3 million.
- Adjusted EBITDA1 was $17.0 million during the second quarter compared to adjusted EBITDA of $5.1 million during the same period in 2011, increasing 236%. Adjusted EBITDA for the first quarter 2012 was $20.2 million.
- Gross margin1 was $26.1 million during the second quarter compared to $9.4 million during the same period last year, an increase of 177%. Gross margin was $31.3 million during the first quarter 2012.
- General and administrative expenses were $10.1 million (11.8% of revenue) during the second quarter compared to $5.7 million (19.1% of revenue) during the same period in 2011. General and administrative expenses were $12.3 million (13.0% of revenue) in the first quarter of 2012.
- Utilization of the Company's fleet was 78.7% during the second quarter as compared to 67.4% during the same period in 2011. Utilization was 89.6% for the first quarter of 2012.
- A letter of intent has been signed with a major oil company to drill in Uganda. A rig is currently being mobilized from the Republic of Congo to Uganda to service this contract.
- In Trinidad, Tuscany's client has suspended drilling operations in that jurisdiction. Tuscany has two rigs in Trinidad. As a result, the Company plans to suspend its office and operations in Trinidad indefinitely. As per the original contracts, there will be compensation provided to Tuscany from the client to move these rigs from Trinidad. A letter of intent has been entered into with respect to one of the rigs for drilling in Brazil. The rig is scheduled to be shipped to Brazil in August 2012. The other rig is currently being tendered.
- 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.
11. Tenders
as per q2 conference...there are 20 tenders that they are working on.
Let me know if there is anything new to add.