Maurel et Prom : Maurel et Prom : Exercise of the TUSCANY warrants Paris, 20 March 2013 No. 06-13 Exercise of the TUSCANY warrants Maurel & Prom informs its shareholders of the exercise of the TUSCANY warrants, owned since the merger between CAROIL and TUSCANY, to acquire 27,500,000 common shares in the capital of Tuscany International Drilling Inc. for no consideration. Tuscany International Drilling Inc. is a Canadian-based oilfield services company; offering drilling, completion and workover services to the oil and natural gas industry. Tuscany is listed in the Toronto stock exchange (TID). According to Canadian rules, Maurel & Prom disclosed the following press release: «March 19, 2013 - Établissements Maurel & Prom S.A. ("M&P") announced today that it has exercised common share purchase warrants (the "Warrants") to acquire 27,500,000 common shares (the "Common Shares") in the capital of Tuscany International Drilling Inc. (the "Company") for no consideration, as per the terms of the Warrants. The 27,500,000 Common Shares represent approximately 7.32% of the outstanding Common Shares of the Company. Prior to the exercise of the Warrants, M&P beneficially owned or exercised control or direction over 81,500,000 Common Shares and 27,500,000 Warrants, representing 29.05% of the outstanding Common Shares (calculated assuming exercise of the Warrants). Following the exercise of the Warrants, M&P now beneficially owns or exercises control or direction over 109,000,000 Common Shares (and no Warrants) representing 29.05% of the issued and outstanding Common Shares of the Company. M&P exercised the Warrants and continues to hold its Common Shares of the Company for investment purposes. M&P intends to review its investment in the Company on a continuing basis. Depending on various factors, including, without limitation, the Company's financial position, the price levels of the Common Shares of the Company, the conditions in the securities markets and general economic and industry conditions, M&P's business or financial condition and other factors and conditions M&P deems appropriate, M&P may in the future take such actions with respect to its investment in the Company as M&P deems appropriate, including, without limitation, making proposals to the Company concerning changes to the capitalization, ownership structure or operations of the Company, acquiring common shares of the Company or selling, transferring to an affiliated party or otherwise disposing of some or all of the common shares of the Company, in each case subject to applicable laws and the terms of the agreements with the Company. In addition, M&P may formulate other purposes, plans or proposals regarding the Company or any of its securities to the extent deemed advisable in light of general investment and trading policies, market conditions or other factors or M&P may change its intention with respect to any and all matters referred to above. M&P's address is set out below. For further information or to obtain a copy of the report filed by M&P in accordance with applicable Canadian securities laws, contact M&P at the address specified below: Établissements Maurel & Prom S.A. 12, rue Volney 75002 Paris France Tel: +33 (0) 1 53 83 1600 For the attention of: Marc de Rodellec» For more information, go to www.maureletprom.fr Communication: INFLUENCES Phone: +33 1 42 72 46 76 Mail: email@example.com This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom.By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future.These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage. Maurel & Prom is listed for trading on Euronext Paris - Compartment A - CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA TUS_MAU-20MAR13_ENG.pdf ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Maurel et Prom via Thomson Reuters ONE HUG#1686496
Maurel et Prom : Maurel et Prom : Exercise of the TUSCANY warrants
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