Tuscany International Drilling Announces Contracts With HRT Oil and Gas, Provides Update on Other Contracts, New Rig Deployment and US$30 Million Loan Drawdown Under Existing Credit Facility

CALGARY, ALBERTA--(Marketwire - Nov. 3, 2010) -

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Tuscany International Drilling Inc. (TSX:TID) ("Tuscany" or the "Company") is pleased to announce that it has signed two contracts with HRT Oil and Gas ("HRT"). Under the contracts with HRT, Tuscany will provide two 1500 hp heliportable drilling rigs in Brazil, beginning operations in the first quarter of 2011. The term of the contracts is four years with an option to renew. The contracts have the potential to generate over $100 million of revenue over the initial term of the contracts.

Tuscany is pleased to be a key drilling rig provider to HRT, who recently concluded a successful initial public offering. The contracts with HRT represent Tuscany's entry into Brazil and the Company has opened operational and administrative offices in Rio de Janeiro and Manaus in order to support operations and services in the country.

A drilling contract has also been signed with a Peruvian affiliate of Gran Tierra Energy Inc. to provide a heliportable rig in Peru, which marks Tuscany's entry into Peru. In addition, a number of contracts have been signed in Tuscany's existing operating areas of Colombia, Ecuador and Guyana.

Of the eight newly constructed rigs remaining to be deployed to South America, four have been shipped and are currently unloading in ports in South America. Three are unloading in Santa Marta, Colombia and the fourth rig is unloading in Callou, Peru. A fifth newly built rig has been transported from Red Deer, Alberta to Houston, Texas and is scheduled to be shipped to South America on November 6, 2010 and a sixth newly built rig is scheduled to be loaded and trucked from Red Deer to Houston on November 8, 2010 and shipped to South America in mid November 2010. The two remaining rigs, destined for Brazil, are anticipated to complete construction in November 2010 and be transported immediately upon completion.

Tuscany currently has nine rigs operational in South America. The Company plans to have its current fleet of 17 rigs completely operational in South America in January 2011 with nine rigs in Colombia, four in Ecuador, two in Brazil, one in Peru and one in Guyana.

In addition, the Company has drawn an additional US$30 million loan under its existing senior secured guaranteed term credit facility with Credit Suisse, who is acting as one of the lenders and as the Administrative Agent. US$45 million remains available to be drawn under the facility, subject to the Company complying with certain conditions. In consideration for underwriting the upsize of the facility, Tuscany granted Credit Suisse and another underwriter the aggregate of 2,400,000 share purchase warrants. The warrants are exercisable at US$1.50 per warrant, expire 2.5 years from the date of grant and are subject to a hold period expiring on March 3, 2011. Loan proceeds will be used for general corporate purposes including short term working capital as the rig fleet is deployed, initial costs associated with the expansion into Brazil and Peru, upgrades to existing equipment, and for completion and deployment of the two 1,500 hp drilling rigs destined for Brazil.

About Tuscany

Tuscany, a corporation headquartered in Calgary, Alberta, is engaged in the business of providing contract drilling and work‐over services along with equipment rentals to the oil and gas industry. The Company is currently focused on providing services to oil and natural gas operators in South America. Tuscany has operating centers in Colombia, Ecuador, Brazil and Peru

Cheers; Scott