Lupatech announced that it has filed for a judicial reorganization, creditor protection, for all the companies in the Group. Besides the holding, it includes: Lupatech Finance Ltd., Amper Amazonas Perfurações; Itacau Agenciamentos Maritimos, Lochness Participações; Lupatech Equipamentos e Serviços para Petroleo, Lupatech Perfuração e Completação, Matep Maquinas e Equipamentos, Mipel Ind. e Com. de Valvulas, Prest Perfurações and Sotep Sociedade Tecnica de Perfuração.
85% of Lupatech’s billings come from Petrobras. Demand for services has diminished substantially thus impacting revenues and delays in payments for services performed has impacted their cash flow.
Please see the attached letter/proposal to the shareholders.
Brazil Energy Insight 
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