Maurel et Prom : Maurel et Prom : Exercise of the TUSCANY warrants

      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 

«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

Tel: +33 (0) 1 53 83 1600

  For the attention of: Marc de Rodellec»

For more information, go to

Phone: +33 1 42 72 46 76

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



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 
information contained therein.

Source: Maurel et Prom via Thomson Reuters ONE
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