Q3 CC: Petroamazonas was looking for 40 rigsThere was an 8 months delay in Petroamazonas' business plan due to its reorganization.
And TID could also move some idle Brazilian rigs to Colombia.
Bryan Claggett - Canaccord Genuity
Okay. In Ecuador, the two -- is this just a transition thing in
Ecuador, or is that a Brazil-like issue that the business isn't
there? Or is this just a transitional thing with the two rigs not
working?
Walter Dawson - CEO and President
What happened in Ecuador was, Petroamazonas, Petroproduction
consolidated their businesses. Therefore, the bid that should
have gone out eight months ago is now on hold and is almost
completed. They have given us notice that they’re looking for 40
workover rigs in Ecuador quickly. There is a couple of other
project they’re talking about. So it is just a matter of the oil
company that we do majority of the work for is going through
reorganization. The bids will come. They have been giving us
short terms bids on the meantime.
Bryan Claggett - Canaccord Genuity
Okay. This other question on Brazil -- I think Matt mentioned a
while ago -- if you can't get good work for these -- not the big
heli-rigs, but the other ones, can you move them? Can you patch
them up and move them to Colombia or other places where the
work is there? Or is it not profitable, or too expensive, or some
combination of all of that?
Walter Dawson - CEO and President
No, what we try to do is get a project that we can put them on
the customer will at least help us pay the move because it is
quite expensive and it is hard on our cash supply. To move those
rigs to Colombia, we’re just trying to get out of the small rig
business in Colombia so are --
Bryan Claggett - Canaccord Genuity
Those are smaller rigs?
Walter Dawson - CEO and President
Other market gets their smaller rigs correct.
Bryan Claggett - Canaccord Genuity
Okay. Obviously, you would rather put it to work in Brazil if you
possibly can.
Walter Dawson - CEO and President
Absolutely, right today we have a project for customer in
Colombia that for rig 120 fits the bill, so I said bid it. And we will
figure out if we get the bid, how we move it.