Tuscany International Drilling Inc.
TSX : TID

Tuscany International Drilling Inc.

May 19, 2011 10:38 ET

Tuscany International Drilling Inc. Announces Subscription Receipts Trading Halt and Related Timing of Delisting

CALGARY, ALBERTA--(Marketwire - May 19, 2011) -

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Tuscany International Drilling Inc. (TSX:TID) ("Tuscany") announces that, further to its earlier press release today respecting the closing of its acquisition of all of the issued and outstanding shares of a private Brazilian drilling and work-over company, together with the related drilling and work-over rigs, trading in the subscription receipts of Tuscany was halted by the Toronto Stock Exchange at the opening of the markets today and will remain halted until the close of business today, at which time they will be delisted. Holders of subscription receipts will receive one common share of Tuscany for each subscription receipt held, for no additional consideration and without further action by the holder. Such common shares have been listed on the TSX.

About Tuscany

Tuscany, a corporation headquartered in Calgary, Alberta, is engaged in the business of providing contract drilling and work‐over services along with equipment rentals to the oil and gas industry. Tuscany is currently focused on providing services to oil and natural gas operators in South America and has operating centers in Colombia, Ecuador, Brazil and Peru.

The Toronto Stock Exchange has not reviewed, nor does it accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tuscany International Drilling Inc.
    Walter Dawson
    Chairman and CEO
    (403) 265-8258
    (403) 265-8793 (FAX)

    Tuscany International Drilling Inc.
    Reg Greenslade
    President
    (403) 265-8258
    (403) 265-8793 (FAX)

    Tuscany International Drilling Inc.
    Matt Moorman
    CFO
    (403) 265-8258
    (403) 265-8793 (FAX)

    Tuscany International Drilling Inc.
    Suite 1950, 140 - 4th Avenue S.W.
    Calgary, Alberta