FTI FTI Foodtech International Inc

Tuscany International Drilling Inc. ("Tuscany" or the "Company") announces that
the First Amended Joint Plan of Reorganization for Tuscany and Tuscany
International Holdings (U.S.A.) Ltd. (the "Affiliate Debtor") under Chapter 11
of the United States Bankruptcy Code ("US Code") dated May 19, 2014 (the
"Chapter 11 Plan") was confirmed by order (the "Confirmation Order") of the
United States Bankruptcy Court for the District of Delaware (the "US Court") on
May 21, 2014. The Confirmation Order was recognized and given full effect in
Canada by order of the Court of Queen's Bench of Alberta, Judicial District of
Calgary granted on May 22, 2014. 


Certain steps to be undertaken in connection with consummation of the Chapter 11
Plan have been implemented with the result that the Effective Date, as defined
therein, has occurred. In particular, Tuscany's lenders have acquired Tuscany's
assets under and pursuant to the provisions of the asset purchase agreement
dated April 8, 2014 by and between the Company, as seller, and Tuscany Holdings
GP, LLC and Tuscany Limited Partnership (collectively, "Tuscany Holdings"),
newly formed entities that are controlled by the Company's senior secured
lenders, as buyer.


Tuscany Holdings, through its new management team, will operate the Company's
previous Colombian and Ecuadorian businesses. Tuscany Holdings has issued today
the attached press release announcing its acquisition of TID's Colombian and
Ecuadorian assets. 


Pursuant to the Chapter 11 Plan, as of June 9, 2014, each of the officers and
members of the board of directors of Tuscany and the Affiliate Debtor have
resigned, and FTI Consulting Canada Inc. ("FTI") has been appointed as Plan
Administrator. Pursuant to the Chapter 11 Plan, Tuscany has filed Articles of
Amendment to permit it to redeem all of its current issued and outstanding
common shares for nominal value. Pursuant to the Chapter 11 Plan, there will be
no recoveries to existing shareholders of Tuscany beyond any recoveries as
contemplated by the Chapter 11 Plan. 


A copy of the Chapter 11 Plan and related documents is available for free from
the Prime Clerk website at http://cases.primeclerk.com/tuscany/.


For further information on developments concerning and documents relating to the
Company's proceedings under Chapter 11 of the United States Bankruptcy Code,
please refer to the website of Prime Clerk LLC, the administrative advisor, at
http://cases.primeclerk.com/tuscany/. 


READER ADVISORIES

Statements in this news release contain forward-looking information including,
without limitation, statements with respect to the closing of the subsequent
portions of the Asset Purchase Agreement and the timing thereof, the
restructuring of the assets and liabilities of the Company, the redemption of
common shares and recovery of shareholders and the future financial position and
focus of the Company. Readers are cautioned that assumptions used in the
preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of Tuscany. These risks
include, but are not limited to: (i) the effects of the Companies' Creditors
Arrangement Act and United States Bankruptcy Code proceedings on Tuscany and the
interests of various creditors, equity holders and other constituents; (ii)
bankruptcy court rulings and the outcomes of the proceedings in general; (iii)
increased legal and other costs related to the proceedings; (iv) Tuscany's
ability to maintain contracts that are critical to its operation and to obtain
and maintain normal terms and relationships with its suppliers, other service
providers, customers, employees, stockholders and other third parties; (v)
Tuscany's ability to retain key executives, managers and employees; (vi)
Tuscany's ability to generate sufficient cash flow from operations or obtain
adequate financing to fund its capital expenditures and meet working capital
needs and its ability to continue as a going concern during the restructuring;
(vii) the adverse effects of changes in applicable tax, environmental and other
regulatory legislation; (viii) a deterioration in the demand for Tuscany's
products; (ix) the risks and uncertainties inherent in estimating future
revenues and the timing of expenditures; (x) intense competition with companies
with greater access to capital and staffing resources; (xi) the risks of
conducting operations in foreign jurisdictions and the impact of pricing
differentials, fluctuations in foreign currency exchange rates and political
developments on the financial results of Tuscany's operations; and (xii) other
risks as described in reports that the Company files with securities regulators.
Any of these factors could cause the Company's actual results and plans to
differ materially from those in the forward-looking statements. The risks
outlined above should not be construed as exhaustive. The reader is cautioned
not to place undue reliance on this forward-looking information. Tuscany does
not undertake any obligation to update or revise any forward-looking statements
except as expressly required by applicable securities laws.


NEWS RELEASE OF TUSCANY LIMITED PARTNERSHIP

The following news release was disseminated by Tuscany Holdings GP, LLC and
Tuscany Limited Partnership on June 10, 2014. Tuscany International Drilling
Inc. expressly disclaims any and all responsibility for the statements and
disclosures made below.


Tuscany Limited Partnership

For Immediate Release

Investor and Media Contact: Aramis Guerra

aguerra@tuscanydrilling.com

+57 313 817 7422 

TUSCANY LIMITED PARTNERSHIP

Announces Completion of Sale to Senior Lenders and Appointment of Chief
Executive Officer


Bogota, Colombia (June 10, 2014) - Tuscany Holdings GP, LLC and Tuscany Limited
Partnership (collectively, "Tuscany Holdings" or the "Company"), are pleased to
announce today that the Company has purchased substantially all of the assets of
Tuscany International Drilling, Inc. ("TID"), a provider of contract drilling,
completion and workover services, marking TID's emergence from the Chapter 11
bankruptcy process. Tuscany Holdings' corporate offices are now located in
Bogota, Colombia with country management teams reporting to the new corporate
team led by Aramis Guerra, a seasoned drilling and oilfield services executive
with extensive experience operating in Latin America and the Middle East. 


Investors including Credit Suisse AG, Cayman Islands Branch ("Credit Suisse")
and certain funds managed by Monarch Alternative Capital LP ("Monarch") led the
acquisition of the equity interests in the core Colombian and Ecuadorian
operating entities. Tuscany Holdings' balance sheet demonstrates improved
strength and stability by significantly reducing leverage and increasing
liquidity through a new money loan.


"We move forward from this process with a sound balance sheet, a talented
leadership team and the support of a strong and experienced board," said Tuscany
Holdings' Chief Executive Officer Aramis Guerra. "We are very well positioned
for the future, with a supportive ownership group dedicated to the long-term
success of the Company, and a capital structure that will enable us to realize
our operational improvements and growth initiatives. With the support of our
employees, customers and suppliers in the communities we serve, we emerge from
this process as a strong and well positioned provider of oilfield services."


"Tuscany International Drilling completed the sale of its African operations in
January 2014. Tuscany Holdings is a more streamlined operation focused on the
most attractive operating units of former Tuscany International Drilling. This
will allow the Company to drive operational performance," said Julio Torres, a
member of Tuscany Holdings' board of directors. "With a significantly improved
debt structure, the financial position now better reflects the Company's
operating strength. Tuscany Holdings is again able to provide high quality,
reliable services to customers who appreciate long term relationships."


"The new equity holders would like to thank the management team, employees and
advisors who helped in this successful balance sheet restructuring," stated
Zachary Lewis of Monarch, an equity partner in Tuscany Holdings, who is a member
of its board of directors. "We view this transaction as transformational,
positioning Tuscany Holdings for continued operational excellence and growth."


About Tuscany Limited Partnership and Tuscany Holdings GP, LLC (collectively,
"Tuscany Holdings")


Tuscany Holdings GP, LLC, is a Delaware limited liability company that acts as
general partner of Tuscany Limited Partnership, an Alberta limited partnership.
Tuscany Holdings' onshore rig fleet is comprised of 17 technologically advanced
drilling and workover rigs, including 12 rigs in Colombia and 5 rigs in Ecuador.
Tuscany Holdings provides contract drilling, completion and workover services to
oil and gas companies active in the exploration, development and production of
oil and gas reserves throughout South America. Tuscany Holdings is based in
Bogota, Colombia.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Deryck Helkaa
Plan Administrator
(403) 265-8258
(403) 265-8793 (FAX)


1950, 140-4th Avenue S.W.
Calgary, Alberta
www.tuscanydrilling.com

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