Right from the horses mouth...."On November 13, 2013, the Company entered into several agreements whereby the Company effectively will sell all of the assets and liabilities comprising the Company’s African segment, as well as two rigs currently located in Colombia, to Établissements Maurel et Prom SA (M&P). Total consideration for the sales is $23,000 in cash (of which Tuscany has received a $15,300 deposit), the assumption by M&P of $50,000 of the Company’s long term debt and the return of 109,000,000 Common shares previously issued to M&P as part of the Company’s acquisition of Caroil SAS in September 2011. The shares in question will, if regulatory approvals are received, be returned to treasury and cancelled. Alternatively, if approvals are not received, the shares will be placed into an escrow account for future consideration."
Folks read the MD&A....