| The company proactively continues efforts to collect unpaid invoice amounts in Venezuela, but has not received any payments since its fiscal year-end earnings report dated November 19, 2009. All eleven H&P rigs that formerly worked for PDVSA remain idle. The Company continues to pursue future drilling opportunities for these eleven large conventional rigs in Venezuela, but it does not expect to commit to new contracts until additional progress is made on pending receivable collections and on conversion of local currency to U.S. dollars. :theflyonthewall.com |
