Bloomberg News

Tuscany International Sees Fourth-Quarter Profit, Dawson Says

November 17, 2011

Nov. 17 (Bloomberg) -- Tuscany International Drilling Inc., a Calgary-based provider of oilfield services with operations in South America, forecast it will report its first quarterly profit as a publicly traded company in the final three months of this year.

“The fourth quarter should be profitable,” Chairman Walter Dawson told reporters in Bogota today, without giving any more details. The company said earlier this month it would list shares in Colombia by Dec. 1.

The company, which offers drilling services and equipment rentals, said earlier this month that its third-quarter net loss widened to $15.1 million, from $3.3 million a year earlier.

--Editors: Brendan Walsh, Glenn J. Kalinoski

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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