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Message: Annual General Meeting

The date of the Annual General Meeting has been changed to August 9, 2011 according to SEDAR. This is to give us time to decide on how we are going to vote on the merger with Caroil SAS. Yes, all shareholders get to vote on this deal but management has already tendered their shares so only a huge number of shares in opposition will be able to overturn this deal. This is a big decision as M&P will end up with 29.24% of Tuscany's shares and 2 members on the Board of Directors. On the other hand if you check out the news on Maurel & Prom's website, they have been trying to sell all of their holdings; oilfields, Caroil SAS etc. for over a year. I get the impression that M&P may just be looking for a fast exit out of Tuscany when the share price goes up and they can unload their Tuscany shares at a profit. The deal is set at $1.53 a share, so it will take them awhile to get their money back but maybe they don't intend to stay in the game very long.

Cheers; Scott

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