Tuscany International Drilling Inc T.TID

Q3 CC: $5.5 million are coming by the end of JAN

[perdikaoilgas]

over the next 10 months would be applied to debt?

Matt Moorman - CFO

Yes. We need to reduce the debt because when you look at our

go forward entity the multiple through debt is still out of range,

and we are working on that.

Dennis Beaudet - GGIF

So, with them, then, is that going to be a pro-rated $1.2 million

a month? Or has it sort of in lumps through the next few

months?

Matt Moorman - CFO

There is been a $1 million deposit of which there is small

withholding tax sending money out of Ecuador. The next

payment is to rate after the first year towards the end January

due to the Petroamazonas's balance sheet. It will be sale of oil,

and it should be in the tune of $5.5 million and then the

payments are prorated from their own.

Dennis Beaudet - GGIF

So just to confirm, you said the next payment toward the end of

January will be sort of a lump-sum $5.5 million?

Matt Moorman - CFO

Correct.

[sailpgd]

It can only be interpreted as a good sign that the shares have resumed trading. The doomsdayers on this board where saying that we have seen the last of our money and that the stock would never trade again.  

[justsomeguytrading]

Pragmatism:  noun  a reasonable and logical way of doing things or of thinking about problems that is based on dealing with specific situations instead of on ideas and theories So after a weekend of sobering reflection... I am sceptical of what Walter is going to be able to accomplish.  IMHO CS has granted the forebearance only because they must see an opportunity of collect

[JustforFun7]

yes there is not a lot we can do at this point. I am glad the stock resumed trading. People can get out at reduced prices or add at reduced prices  based on what they believe. That's what makes a market. Chapter 11 is a given by next week if terms can be worked out that are acceptable to the debt holders. I would love to see that include some warrants or equity holding as long as it is

[ninetiesgolfer]

Well, I riolled the dice this AM and picked up 100,000 shares at .035. Have a feeling I'll make some money.

[onthecase]

Good points in your analysis, and I'm all for pragmatism. In particular, I agree that CS is after asset protection. The key point I would add is that in addition to being a creditor, CS is also a major shareholder, and indeed continued acquiring right into the Friday event. This alters their incentives somewhat. And, as perdikaoilgas points out, Tuscany EBITDA for Q3 was $14-15 million with

[justsomeguytrading]

Hey OTC, As I previously mentioned, I believe that CS if firmly in the drivers seat here.  There are of course 2 outcomes - successful reorg or bankruptcy. I am sitting on a significant investment and want to see this successful, however there are a number of items that I believe will be crucial in determining the outcome of this story: has there been some resolution to the