Rig 1 (Rig 12)
Date | Gross Revenues | Total Expenses | Net Revenues | 75% Net Revenues | Senior D/S | Subordinate D/S | Available for Prepayment | Cumulative Prepayment |
11/1/2007 | | | | | | | | |
12/1/2007 | | | | | 40,000 | 17,000 | (57,000) | (57,000) |
1/1/2008 | | | | | 40,000 | 17,000 | (57,000) | (114,000) |
2/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | (2,841) |
3/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 108,319 |
4/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 219,478 |
5/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 330,638 |
6/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 441,797 |
7/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 552,956 |
8/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 664,116 |
9/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 775,275 |
10/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 886,434 |
11/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 997,594 |
12/1/2008 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,108,753 |
1/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,219,913 |
2/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,331,072 |
3/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,442,231 |
4/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,553,391 |
5/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,664,550 |
6/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,775,709 |
7/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,886,869 |
8/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 1,998,028 |
9/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,109,188 |
10/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,220,347 |
11/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,331,506 |
12/1/2009 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,442,666 |
1/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,553,825 |
2/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,664,984 |
3/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,776,144 |
4/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,887,303 |
5/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 2,998,463 |
6/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,109,622 |
7/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,220,781 |
8/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,331,941 |
9/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,443,100 |
10/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,554,259 |
11/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,665,419 |
12/1/2010 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,776,578 |
1/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,887,738 |
2/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 3,998,897 |
3/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,110,056 |
4/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,221,216 |
5/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,332,375 |
6/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,443,534 |
7/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,554,694 |
8/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,665,853 |
9/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,777,013 |
10/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,888,172 |
11/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 4,999,331 |
12/1/2011 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,110,491 |
1/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,221,650 |
2/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,332,809 |
3/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,443,969 |
4/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,555,128 |
5/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,666,288 |
6/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,777,447 |
7/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,888,606 |
8/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 5,999,766 |
9/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 6,110,925 |
10/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 6,222,084 |
11/1/2012 | 435,000 | 210,788 | 224,213 | 168,159 | 40,000 | 17,000 | 111,159 | 6,333,244 |
TOTAL | 25,230,000 | 12,225,675 | 13,004,325 | 9,753,244 | 2,400,000 | 1,020,000 | 6,333,244 | |
Rig 2 (Rig 15)
Date | Gross Revenues | Total Expenses | Net Revenues | 75% Net Revenues | Senior D/S | Subordinate D/S | Available for Prepayment | Cumulative Prepayment |
11/1/2007 | | | | | | | | |
12/1/2007 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 88,659 |
1/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 177,319 |
2/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 265,978 |
3/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 354,638 |
4/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 443,297 |
5/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 531,956 |
6/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 620,616 |
7/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 709,275 |
8/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 797,934 |
9/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 886,594 |
10/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 975,253 |
11/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,063,913 |
12/1/2008 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,152,572 |
1/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,241,231 |
2/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,329,891 |
3/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,418,550 |
4/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,507,209 |
5/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,595,869 |
6/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,684,528 |
7/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,773,188 |
8/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,861,847 |
9/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 1,950,506 |
10/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,039,166 |
11/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,127,825 |
12/1/2009 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,216,484 |
1/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,305,144 |
2/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,393,803 |
3/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,482,463 |
4/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,571,122 |
5/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,659,781 |
6/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,748,441 |
7/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,837,100 |
8/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 2,925,759 |
9/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,014,419 |
10/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,103,078 |
11/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,191,738 |
12/1/2010 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,280,397 |
1/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,369,056 |
2/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,457,716 |
3/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,546,375 |
4/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,635,034 |
5/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,723,694 |
6/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,812,353 |
7/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,901,013 |
8/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 3,989,672 |
9/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,078,331 |
10/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,166,991 |
11/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,255,650 |
12/1/2011 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,344,309 |
1/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,432,969 |
2/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,521,628 |
3/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,610,288 |
4/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,698,947 |
5/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,787,606 |
6/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,876,266 |
7/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 4,964,925 |
8/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 5,053,584 |
9/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 5,142,244 |
10/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 5,230,903 |
11/1/2012 | 405,000 | 210,788 | 194,213 | 145,659 | 40,000 | 17,000 | 88,659 | 5,319,563 |
TOTAL | 24,300,000 | 12,647,250 | 11,652,750 | 8,739,563 | 2,400,000 | 1,020,000 | 5,319,563 | |
Rig 3 (Rig 22)
Date | Gross Revenues | Total Expenses | Net Revenues | 75% Net Revenues | Senior D/S | Subordinate D/S | Available for Prepayment | Cumulative Prepayment |
11/1/2007 | | | | | | | | |
12/1/2007 | | | | | 40,000 | 17,000 | (57,000) | (57,000) |
1/1/2008 | | | | | 40,000 | 17,000 | (57,000) | (114,000) |
2/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | (27,338) |
3/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 59,325 |
4/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 145,988 |
5/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 232,650 |
6/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 319,313 |
7/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 405,975 |
8/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 492,638 |
9/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 579,300 |
10/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 665,963 |
11/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 752,625 |
12/1/2008 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 839,288 |
1/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 925,950 |
2/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,012,613 |
3/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,099,275 |
4/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,185,938 |
5/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,272,600 |
6/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,359,263 |
7/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,445,925 |
8/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,532,588 |
9/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,619,250 |
10/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,705,913 |
11/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,792,575 |
12/1/2009 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,879,238 |
1/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 1,965,900 |
2/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,052,563 |
3/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,139,225 |
4/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,225,888 |
5/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,312,550 |
6/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,399,213 |
7/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,485,875 |
8/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,572,538 |
9/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,659,200 |
10/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,745,863 |
11/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,832,525 |
12/1/2010 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 2,919,188 |
1/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,005,850 |
2/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,092,513 |
3/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,179,175 |
4/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,265,838 |
5/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,352,500 |
6/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,439,163 |
7/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,525,825 |
8/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,612,488 |
9/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,699,150 |
10/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,785,813 |
11/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,872,475 |
12/1/2011 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 3,959,138 |
1/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,045,800 |
2/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,132,463 |
3/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,219,125 |
4/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,305,788 |
5/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,392,450 |
6/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,479,113 |
7/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,565,775 |
8/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,652,438 |
9/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,739,100 |
10/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,825,763 |
11/1/2012 | 360,000 | 168,450 | 191,550 | 143,663 | 40,000 | 17,000 | 86,663 | 4,912,425 |
TOTAL | 20,880,000 | 9,770,100 | 11,109,900 | 8,332,425 | 2,400,000 | 1,020,000 | 4,912,425 | |
Rig 4 (Rig 41)
Date | Gross Revenues | Total Expenses | Net Revenues | 75% Net Revenues | Senior D/S | Subordinate D/S | Available for Prepayment | Cumulative Prepayment |
11/1/2007 | | | | | | | | |
12/1/2007 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 46,500 |
1/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 93,000 |
2/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 139,500 |
3/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 186,000 |
4/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 232,500 |
5/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 279,000 |
6/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 325,500 |
7/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 372,000 |
8/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 418,500 |
9/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 465,000 |
10/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 511,500 |
11/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 558,000 |
12/1/2008 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 604,500 |
1/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 651,000 |
2/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 697,500 |
3/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 744,000 |
4/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 790,500 |
5/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 837,000 |
6/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 883,500 |
7/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 930,000 |
8/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 976,500 |
9/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,023,000 |
10/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,069,500 |
11/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,116,000 |
12/1/2009 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,162,500 |
1/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,209,000 |
2/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,255,500 |
3/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,302,000 |
4/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,348,500 |
5/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,395,000 |
6/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,441,500 |
7/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,488,000 |
8/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,534,500 |
9/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,581,000 |
10/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,627,500 |
11/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,674,000 |
12/1/2010 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,720,500 |
1/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,767,000 |
2/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,813,500 |
3/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,860,000 |
4/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,906,500 |
5/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,953,000 |
6/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 1,999,500 |
7/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,046,000 |
8/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,092,500 |
9/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,139,000 |
10/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,185,500 |
11/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,232,000 |
12/1/2011 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,278,500 |
1/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,325,000 |
2/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,371,500 |
3/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,418,000 |
4/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,464,500 |
5/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,511,000 |
6/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,557,500 |
7/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,604,000 |
8/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,650,500 |
9/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,697,000 |
10/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,743,500 |
11/1/2012 | 210,000 | 72,000 | 138,000 | 103,500 | 40,000 | 17,000 | 46,500 | 2,790,000 |
TOTAL | 12,600,000 | 4,320,000 | 8,280,000 | 6,210,000 | 2,400,000 | 1,020,000 | 2,790,000 | |
Rig 2 & 4 (Rig 15 & 41)
Date | Gross Revenues | Total Expenses | Net Revenues | 75% Net Revenues | Senior D/S | Subordinate D/S | Available for Prepayment | Cumulative Prepayment |
11/1/2007 | | | | | | | | |
12/1/2007 | 615,000 | 282,788 | 332,213 | 249,159 | 40,000 | 17,000 | 192,159 | 192,159 |
1/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 438,319 |
2/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 684,478 |
3/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 930,638 |
4/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 1,176,797 |
5/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 1,422,956 |
6/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 1,669,116 |
7/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 1,915,275 |
8/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 2,161,434 |
9/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 2,407,594 |
10/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 2,653,753 |
11/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 2,899,913 |
12/1/2008 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 3,146,072 |
1/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 3,392,231 |
2/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 3,638,391 |
3/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 3,884,550 |
4/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 4,130,709 |
5/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 4,376,869 |
6/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 4,623,028 |
7/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 4,869,188 |
8/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 5,115,347 |
9/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 5,361,506 |
10/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 5,607,666 |
11/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 5,853,825 |
12/1/2009 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 6,099,984 |
1/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 6,346,144 |
2/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 6,592,303 |
3/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 6,838,463 |
4/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 7,084,622 |
5/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 7,330,781 |
6/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 7,576,941 |
7/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 7,823,100 |
8/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 8,069,259 |
9/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 8,315,419 |
10/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 8,561,578 |
11/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 8,807,738 |
12/1/2010 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 9,053,897 |
1/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 9,300,056 |
2/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 9,546,216 |
3/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 9,792,375 |
4/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 10,038,534 |
5/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 10,284,694 |
6/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 10,530,853 |
7/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 10,777,013 |
8/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 11,023,172 |
9/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 11,269,331 |
10/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 11,515,491 |
11/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 11,761,650 |
12/1/2011 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 12,007,809 |
1/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 12,253,969 |
2/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 12,500,128 |
3/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 12,746,288 |
4/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 12,992,447 |
5/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 13,238,606 |
6/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 13,484,766 |
7/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 13,730,925 |
8/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 13,977,084 |
9/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 14,223,244 |
10/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 14,469,403 |
11/1/2012 | 615,000 | 210,788 | 404,213 | 303,159 | 40,000 | 17,000 | 246,159 | 14,715,563 |
TOTAL | 36,900,000 | 12,719,250 | 24,180,750 | 18,135,563 | 2,400,000 | 1,020,000 | 14,715,563 | |
All numbers are preliminary and subject to change
| | Gross Daily Lease Rate | (1) | Total Daily Expenses | (2) | Net Revenues | (3) | 75% Net Revenues | | Current Status of Rigs | Anticipated Deployment | (4) |
Rig 12 | 14,500 | | 7,026 | | 7,474 | | 5,605 | | 70% Complete | 12/15/07 -12/30/07 |
Rig 15 | 13,500 | | 7,026 | | 6,474 | | 4,855 | | Ready to work | 11/15/2007 |
Rig 22 | 12,000 | | 5,615 | | 6,385 | | 4,789 | | 65% Complete | 12/15/07 -12/30/07 |
Rig 41 | 7,000 | | 2,400 | | 4,600 | | 3,450 | | Working | |
TOTAL | 47,000 | | 22,068 | | 20,333 | | 15,249 | | | |
Days in Month | | 30 | | | | | | |
Days in Year | | 360 | | | | | | |
| | | | | | | | | | |
Total Par Amount of Senior Debentures | | $4,800,000 | | | | Total Par Amount of Subordinate Debentures | $1,200,000 |
| | | | |
| | | | | | | | | | |
Senior Interest Rate | | 10.00% | | | | Subordinate Interest Rate | 17.00% |
Total Annual Debt Service | | $480,000.00 | | | | Total Annual Debt Service | $204,000.00 |
Total Mo. Debt Service | | $40,000.00 | | | | Total Mo. Debt Service | $17,000.00 |
(1) These rates are based on current contract rates being negotiated and conservative market rates, although there can be no assurance that Forster will enter into contract for these rates.
(2) These expenses consist of all ordinary operation, labor, payroll taxes, state and local taxes, materials, supplies, repair, maintenance, and insuring of oil rig assets, excluding depreciation and non-cash expenses, as well as debt service expenses.
(3) Calculated by subtracting the total daily expenses from the gross daily lease rate.
(4) Anticipated deployment will depend upon many factors, most of which are outside of Forster's control, and there can be no assurance that such deployment will occur as described herein, if at all.
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forster believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the lease rate projections, anticipated expenses or other expectations expressed in this presentation. Forster cannot guarantee that it will successfully execute on its business strategy to lease its rigs in the timeframe set forth above, receive timely or at all revenue from the daily lease rate projections, and meet its debt reduction goals from 75% of its net revenues as described herein. Forster undertakes no obligation to publicly update or revise any forward-looking statements. See "Risk Factors" for a complete description of risks facing Forster.
SUMMARY
Rig | Manufacturer | Model | Hp. | FMV | OLV |
| 12 | NATIONAL *(As Is) | 55 | 1000 | 2,448,500 | 2,181,710 |
| | Tubulars | | | 0 | 0 |
| | | | | | |
| 12 | NATIONAL *(If Complete) | 55 | 1000 | 8,000,000 | 7,400,000 |
| | Tubulars | | | 974,100 | 925,375 |
| | | | | | |
| 15 | NATIONAL | 50CA | 1000 | 7,500,000 | 6,937,500 |
| | Tubulars | | | 761,800 | 723,700 |
| | | | | | |
| 41 | INGERSOLL-RAND | RD-10 | | 185,000 | 181,875 |
| | Tubulars | | | 41,990 | 39,900 |
| | | | | | |
| | SPARE EQUIPMENT | | | 890,000 | 796,250 |
| | | | | | |
| | TOTAL RIGS *(As is) | | | 11,133,500 | 11,214,805 |
| | TOTAL RIGS *(If Complete) | | | 15,685,000 | 14,711,875 |
| | TOTAL Tubulars *(As is) | | | 803,790 | 763,600 |
| | TOTAL Tubulars *(If Complete) | | | 1,777,890 | 1,688,975 |
| | TOTAL SPARE EQUIPMENT | | | 890,000 | 796,250 |
| | | | | | |
TOTAL | FORSTER DRILLING *(As is) | | | $12,827,290 | $12,774,655 |
| | | | | | |
TOTAL | FORSTER DRILLING *(If Complete) | | | $18,352,890 | $17,197,100 |
