Trinidad Drilling Ltd (TDGCF)

Trinidad Drilling Ltd is incorporated under the laws of the Province of Alberta, Canada. The Company was formed in 1996. The Company is engaged in the drilling and barge-drilling sectors of the North American oil and natural gas industry, with operations in Canada, the United States (US) and Mexico. In addition, through a joint venture agreement signed in the year 2013, Company has the opportunity to operate drilling rigs in other international markets such as Saudi Arabia and Mexico. The Company has identified its operating segments based on geographic location and services provided. Its two operating segments includes; Canadian operations and US and international operations. For the year ended December 31, 2013, the Canadian operations segment included land drilling services and coring, in addition to rig construction and assembly. The US and international operating segment consists of land and barge drilling services located in the US and international markets as well as the international joint venture operation. The Company also has a non-operating corporate segment, which acts as a support function to the other segments. The company also provides third party manufacturing services, whereby it manufactures drilling related equipment for a fixed price or cost plus contract. As of December 31, 2013, Company has agreed to purchase one new build rig constructed at Trinidad's manufacturing division as well as three upgraded rigs currently included in Trinidad's US drilling division. These four rigs will be operating in Saudi Arabia. Subsequent to December 31, 2013, Company also agreed to purchase four new build rigs constructed at Trinidad's manufacturing division for operations in Mexico.