The following information can be gleaned from yesterday's conference call. It is worth listening to in it's entirety:

- Q-1 results will show little change in 2013 in terms of rigs on contract which is currently 66% (from a total of 37 rigs)

- the 4 rigs which were written off 100% were small rigs in disrepair. Nobody wanted to lease these small rigs of which 3 were 550 hp, and 1 was 600 hp. and the refurbishmnent costs would be very high. Advice from a third party was to scrap them and use them for parts or sell salvaged parts if possible

- Tuscany is in the process of downsizing to cut costs everywhere.

a) of the original 41 rigs all the results for 2012 and forward will pertain to 37 new and refurbished, rigs which are for hire. Tuscany got rid of the dead wood

b) 120 workers have been laid off and Q-1 2013 will report their severance packages

c) G & A for Q-4 2012 was 7.5% but going forward management expects that the G & A rate will be around 8% to 9% going forward. This was a huge reduction form 16% last year.

d) Reg Greenslade's position has not and will not be replaced in order to save money

e) the company according to Walter Dawson is looking at every possible way to lower expenditures and save money including a possible merger (sorry those of you who were hoping that there would be a sale of the company sooner than later : my comments not Mr. Dawson's)

-Walter Dawson stated that what happened in 2012 was beyond the company's control: in terms of lower rig rentals in Colombia and Brazil. Also, HRT's rescinding their contracts for rigs 115 and 116 the heli-portable rigs.

- Walter Dawson assured shareholders and analysts that Tuscany's lawyers in Brazil are very confident that Tuscany will win the arbitration against HRT as the contracts were iron clad and HRT broke the contracts to slow their burn rate. When asked how much money is involved here, Tuscany hopes to recover $8 million dollars for rig 115 and an additional $8 million dollars for rig 116.

- Tuscany's lawyers are confident that the company will win the arbitration and we will know a lot more in Q-2

- a question was asked concerning HRT's ability to pay compensation if they lose the arbitration as they may be broke by then. The dates are currently being set for the arbitration and the panel has already been selected. As the process quickly moves forward in Q2 the money in question will be put into escrow pending the outcome of the arbitration, to insure that the money is availble to be awarded if so decided.

- Ecuador is the most successful venue as all rigs are under contract there

- one rig is being moved from Colombia to Gabon

- A number of rigs have Letters of Interest signed and solid contracts coming up in Q-2 and Q-3 of 2013.

- there is interest from companies in 3 different countries to sign rigs 115 and 116 the heli-portable rigs that were constructed for the HRT contract but they are looking at Q-3 dates

- the 2 rigs from Trinidad are under contract and drilling or in the process of being contracted

- the cost of the failed bond issue was $1.5 million dollars, but there was no mention of whether or not the failed bond issue would be repeated or when

- Maurel & Prom are now the largest shareholder with 29% of the shares

- Walter Dawson appeared to be very, very confident that the company is on the right track now cutting costs and downsizing to set the company on the right path to financial success. He stated that the number of rigs in the process of being contracted is continuing to go up and there is a lot of interest in Tuscany's rigs. He reiterated that what happened in 2012 was beyond management's control as it was unforseeable.

This is what I remember from the Conference Call.

Cheers; Scott