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orig:OceanRigUDWIncReportingEntityMember
orig:SeniorUnsecuredNotesMember
2016-01-01
2016-12-31
0001447382
orig:BeginningFrom2018Member
orig:TMSOffshoreServicesMember
2017-01-01
0001447382
orig:MayzeServicesLimitedMember
2016-12-22
0001447382
orig:OceanRigUDWIncReportingEntityMember
orig:ThreeFacilitiesMember
2016-12-31
0001447382
orig:OceanRigUDWIncReportingEntityMember
orig:SeniorSecuredNotesMember
2016-12-31
shares
iso4217:USD
pure
iso4217:USD
shares
iso4217:GBP
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:144px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:69px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:69px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Cash and cash equivalents</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">26</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other current assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">182</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">194</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total current assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>217</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>220</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>NON-CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Investments in subsidiaries*</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,781,705</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">143,381</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total non-current assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3,781,705</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>143,381</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,781,922</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">143,601</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>LIABILITIES AND STOCKHOLDERS' EQUITY</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>CURRENT LIABILITIES:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,913</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,007</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9,913</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3,007</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>NON-CURRENT LIABILITIES</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt, net of current portion</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">497,244</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">129,844</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total non-current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>497,244</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>129,844</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>STOCKHOLDERS' EQUITY:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Preferred stock, $0.01 par value; 500,000,000 shares authorized at December 31, 2015 and 2016,  nil issued and outstanding at December 31, 2015 and 2016, respectively</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Common stock, $0.01par value; 1,000,000,000 shares authorized, at December 31, 2015 and 2016, 160,888,606 issued and outstanding at December 31, 2015 and 2016, respectively </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,609</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,609</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Treasury stock ; 22,222,222 shares at December 31, 2015 and $0.01 par value; 78,301,755 shares at December 31, 2016 </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(222</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(783</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Additional paid-in capital</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,572,549</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,524,426</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated other comprehensive loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(22,841</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,346</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated deficit</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(276,330</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,517,848</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total stockholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,274,765</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total liabilities and stockholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,781,922</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">143,601</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:490px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:62px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">*      Eliminated in consolidation</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="10" style=" border:solid #000000 0.0px;width:230px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>For the year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>EXPENSES:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">General and administrative expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,983</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,924</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,995</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Operating loss</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(7,983</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(6,924</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17,995</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>OTHER INCOME / (EXPENSES):</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest and finance costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(82,109</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(65,988</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(37,905</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest income</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,383</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,224</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5,041</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">177</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total other (expenses), net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(74,502</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(60,947</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(37,728</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Equity/(loss) in earnings of subsidiaries*</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">342,288</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">147,885</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,185,795</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net income/(loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">259,803</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">80,014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,241,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Income/(loss) To Common Stockholders</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">259,031</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">78,839</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,241,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Earnings/(loss) per common share, basic and diluted</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.96</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.57</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(33.43</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted average number of shares, basic and diluted</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">131,837,227</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">138,757,176</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">96,950,847</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:410px;"></td>
<td style="width:3px;"></td>
<td style="width:6px;"></td>
<td style="width:67px;"></td>
<td style="width:4px;"></td>
<td style="width:1px;"></td>
<td style="width:6px;"></td>
<td style="width:67px;"></td>
<td style="width:2px;"></td>
<td style="width:6px;"></td>
<td style="width:3px;"></td>
<td style="width:62px;"></td>
<td style="width:2px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">* Eliminated in consolidation</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="10" style=" border:solid #000000 0.0px;width:221px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>For the year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:68px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> Net income/(loss) </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>259,803</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>80,014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(3,241,518)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other Comprehensive income / (loss):</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification of realized losses associated with capitalized interest to Consolidated Statement of Operations</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,034</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,035</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">26,187</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Actuarial gains/(losses)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">62</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other Comprehensive income / (loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(484)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,097</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>26,187</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Comprehensive income /(loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>259,319</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>81,111</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(3,215,331)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td style="width:413px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:62px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>For the year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Cash Used in Operating Activities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(88,302</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>237,535</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(54,326)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash Flows from Investing Activities:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Investments in subsidiaries</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">289,654</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(379,993</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54,317</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Loan to parent</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(120,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Proceeds from arrangement fees</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Cash Provided by / (used in) Investing Activities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>172,654</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(379,993)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>54,317</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash Flows from Financing Activities:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Proceeds from senior notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">500,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Payment of senior notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(500,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dividends paid</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(75,194</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(50,281</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Payments for issuance of subsidiaries shares</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(466</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Payment of financing fee</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(8,690</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net proceeds from common stock issuance</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">192,714</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Cash (used in)/provided by Financing Activities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(84,350)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>142,433</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net increase/(decrease) in cash and cash equivalents</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="top" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(25</font></div></td>
<td valign="top" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="top" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(9</font></div></td>
<td valign="top" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash and cash equivalents at beginning of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">60 </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash and cash equivalents at end of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>60</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>35</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>26</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td style="width:414px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> <b>Schedule I- Condensed Financial Information of Ocean Rig UDW Inc. (Parent Company Only)</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In the condensed financial information of the Parent Company, the Parent Company's investment in subsidiaries is stated at cost plus equity in undistributed earnings/(loss) of subsidiaries.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">There are no legal or regulatory restrictions on the Parent Company's ability to obtain funds from its subsidiaries through dividends, loans or advances sufficient to satisfy the obligations discussed below that are due on or before December 31, 2016.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 27, 2011, the Parent Company issued $500,000 aggregate principal amount of 9.5% Senior Unsecured Notes due 2016. The notes were unsecured obligations and ranked senior in right of payment to any future subordinated indebtedness and equally in right of payment to all of its existing and future unsecured senior indebtedness. The 9.5% Senior Unsecured Notes were repurchased or redeemed in connection with the 7.25% Senior Unsecured Notes offering discussed below.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 26, 2014, the Parent Company issued $500,000 aggregate principal amount of 7.25% senior unsecured notes due 2019. The notes are unsecured obligations and rank senior in right of payment to any future subordinated indebtedness and equally in right of payment to all of its existing and future unsecured senior indebtedness.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On November 18, 2014, the Parent Company entered into a $120,000 unsecured facility with its former parent company, DryShips. The loan from the Parent Company to DryShips bore interest at a LIBOR plus margin rate and was due in May 2016. During the year ended December 31, 2015, the Parent Company exchanged the $120,000 unsecured facility for an aggregate amount of 22,222,222 of the Company's shares owned by Dryships. These shares were not retired and are held as treasury stock.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Parent Company is guarantor on the $1,300,000 facilities, the $1,900,000 facilities, the $462,000 facility and the 6.5% Senior Secured Notes due 2017 described in Note 9 "Long-term Debt" to the consolidated financial statements. As of December 31, 2016, the amount outstanding relating to these three facilities amounted to $3,358,542 in aggregate and the amount outstanding relating to the 6.5% Senior Secured Notes amounted to $459,723.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the year ended December 31, 2015, the Parent Company paid dividends of $50,281 and no dividends were paid during 2016.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The condensed financial information of the Parent Company should be read in conjunction with the Company's consolidated financial statements.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>For the year ended December 31,</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Cash Used in Operating Activities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(88,302</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>237,535</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(54,326)</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash Flows from Investing Activities:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Investments in subsidiaries</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">289,654</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(379,993</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54,317</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Loan to parent</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(120,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Proceeds from arrangement fees</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Cash Provided by / (used in) Investing Activities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>172,654</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(379,993)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>54,317</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash Flows from Financing Activities:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Proceeds from senior notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">500,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Payment of senior notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(500,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dividends paid</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(75,194</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(50,281</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Payments for issuance of subsidiaries shares</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(466</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Payment of financing fee</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(8,690</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net proceeds from common stock issuance</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">192,714</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Cash (used in)/provided by Financing Activities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(84,350)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>142,433</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net increase/(decrease) in cash and cash equivalents</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="top" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(25</font></div></td>
<td valign="top" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="top" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(9</font></div></td><td valign="top"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash and cash equivalents at beginning of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">60 </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cash and cash equivalents at end of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>60</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>35</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>26</b></font></div></td>
</tr>
<tr>
<td style="width:414px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
</tr>
</table>
<div></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14. Income Taxes:</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ocean Rig UDW is subject to Cayman Islands tax which is zero and operates through its various subsidiaries in a number of countries throughout the world. Therefore the Company may pay tax within some jurisdictions even though it might have losses in others. Income taxes have been provided based upon the laws and rates in effect in the countries in which our operations are conducted or in which our subsidiaries are considered residents for income tax purposes. Our income tax expense or benefit arises from our mix of pre-tax earnings or losses, respectively, in the international tax jurisdictions in which we operate. Since the countries in which operates in have different statutory tax rates and tax regimes with respect to one another there is no expected relationship between the provision for income taxes and income or loss before income taxes. A loss in one jurisdiction may not be offset against taxable income in another jurisdiction.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The components of the Company's income/(losses) before taxes, after adjusting for impairment losses and gains from repurchases of senior notes, are as follows:</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;height:14px;"><div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="12" style=" border:solid #000000 0.0px;width:223px;"><div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b> </b></font></div><div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Domestic income/ (loss) (Marshall Islands/ Cayman Islands)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(161,913</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">219,900</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">126,244</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Foreign income (January 1, 2016 to April 14, 2016)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">499,539</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">185,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">93,633</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(Domestic loss)  Cayman Islands</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="top" colspan="3" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(97,939</font></div></td><td valign="top"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Foreign income (April 15, 2016 to December 31, 2016)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">394,196</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>       Total income before taxes, excluding impairment loss and gain from repurchases of senior notes</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>337,626</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>405,642</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b> </font></div></td>
<td valign="top" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>516,134</b></font></div></td>
</tr>
<tr>
<td style="width:419px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:57px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:47px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:53px;"></td>
<td style="width:1px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:16.0px;color:#000000;"> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The components of the Company's tax expense were as follows:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:218px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year Ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Current Tax expense</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">77,823</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">99,816</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">106,315</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Deferred Tax expense</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">- </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Income taxes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>77,823</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>99,816</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>106,315</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Effective tax rate on income / (loss) excluding impairment loss and gain from repurchase of the senior secured notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>23.1</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>%</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>24.6</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>%</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>20.6</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>%</b></font></div></td>
</tr>
<tr>
<td style="width:412px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:55px;"></td>
<td style="width:12px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:55px;"></td>
<td style="width:12px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:55px;"></td>
<td style="width:12px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In 2016, approximately 93% of the current tax expense related to taxes in Angola, Brazil, Norway, Congo and Senegal. In 2015, approximately 90% of the current tax expense related to taxes in Angola, Brazil, Norway and Congo and in 2014, approximately 64% of the current tax expense related to taxes in Angola.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Taxes have not been reflected in other comprehensive income/(loss) since the valuation allowances would not result in the  recognition of deferred tax.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A reconciliation between the statutory tax rate to the effective tax rate is as follows:</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:223px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year Ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Reconciliation of total tax expense:</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Income tax</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">70,441</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">94,331</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">106,315</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Taxes on litigation matters subject to statutory rates, including interest and penalties</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:54px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">7,382</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:54px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">5,485</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>77,823</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>99,816</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>106,315</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:412px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:54px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:54px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:78px;"></td>
<td style="width:7px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ocean Rig has elected to use the statutory tax rate for each year based upon the location where the largest parts of its operations were domiciled. During 2014, 2015 and 2016, most of its activities were in the Republic of the Marshall Islands, and Cayman Island (from April 2016) with a tax rate of zero. On April 14, 2016, the corporate domicile of the Company moved from Republic of the Marshall Islands to the Cayman Islands.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ocean Rig is subject to changes in tax laws, treaties, regulations and interpretations in and between the countries in which its subsidiaries operate. A material change in these tax laws, treaties, regulations and interpretations could result in a higher or lower effective tax rate on worldwide earnings.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deferred tax assets and liabilities are recognized for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of the Company's assets and liabilities using the applicable jurisdictional tax rates in effect the year the asset is realized or the liability is settled. The Company has not recognized any deferred tax liability, while the significant components of deferred tax assets are as follow:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Deferred tax assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Losses carried forward</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13,197</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">10,110</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Total deferred tax assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13,197</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">10,110</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Less: valuation allowance</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(13,197</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(10,110</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Total deferred tax assets, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A valuation allowance for deferred tax assets is recorded when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. The Company provides a valuation allowance to offset deferred tax assets for carry forward of operating losses incurred during the year in certain jurisdictions and for other deferred tax assets where, in the Company's opinion, it is more likely than not that the financial statement benefit of these losses will not be realized. The Company provides a valuation allowance for foreign tax loss carry forward to reflect the possible expiration of these benefits prior to their utilization. As of December 31, 2016, the valuation allowance for deferred tax assets amounted to $13,326.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The earnings of certain of our subsidiaries are considered to be indefinitely reinvested. Should the Company make a distribution from these subsidiaries in the form of dividends or otherwise, the Company would be subject to additional income taxes. The unrecognized deferred tax liabilities related to these undistributed earnings was not practicable to be estimated as of December 31, 2016. Accordingly, the Company has not provided for taxes on these unremitted earnings.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company is subject to taxation in various jurisdiction in which it conducts business. Tax years as early as 2010 remain subject to examination. As of December 31, 2016, the Company has various ongoing tax audits.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;height:14px;"><div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="11" style=" border:solid #000000 0.0px;width:223px;"><div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b> </b></font></div><div style="text-align:right;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Domestic income/ (loss) (Marshall Islands/ Cayman Islands)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(161,913</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">219,900</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">126,244</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Foreign income (January 1, 2016 to April 14, 2016)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">499,539</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">185,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">93,633</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(Domestic loss)  Cayman Islands</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(97,939</font></div></td><td valign="top"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Foreign income (April 15, 2016 to December 31, 2016)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">394,196</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:419px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>       Total income before taxes, excluding impairment loss and gain from repurchases of senior notes</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>337,626</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>405,642</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b> </font></div></td>
<td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>516,134</b></font></div></td>
</tr>
<tr>
<td style="width:419px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:57px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:47px;"></td>
<td style="width:9px;"></td>
<td style="width:9px;"></td>
<td style="width:53px;"></td>
<td style="width:1px;"></td>
</tr>
</table>
<div></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2. Significant Accounting Policies:</b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(a)</b></i> <i><b>Principles of consolidation: </b></i>The accompanying consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP") and include the accounts and operating results of Ocean Rig UDW, its wholly-owned subsidiaries and its VIEs. A VIE is an entity that in general does not have equity investors with substantive voting rights or that has equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company has the power to direct the activities of a VIE that most significantly impact the entity's economic performance and absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both.  All intercompany balances and transactions have been eliminated on consolidation. As of December 31, 2016 and 2015, the Company consolidated one VIE which supports our drilling operation in specific locations, for which it is deemed to be the primary beneficiary, i.e. it has a controlling financial interest in this entity.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The VIE's total assets and liabilities, as of December 31, 2015, were $35,362 and $77,647, respectively, while total liabilities exceeded total assets by $42,285. The VIE's total assets and liabilities, as of December 31, 2016, were $23,227 and $86,119, respectively, while total liabilities exceeded total assets by $62,892. </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2016, the Company also consolidated one additional VIE due to the Trust (as defined) formed for the purpose of the amendment of the $462,000 Senior Secured Credit Facility (Note 9). Since the assets of the Trust can be used only to settle obligations of the Trust itself and at the same time creditors of the Trust do not have recourse to the general credit of the primary beneficiary, such combined assets and liabilities are analyzed as follows: </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2016</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>ASSETS</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Cash and cash equivalents</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">167</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Restricted cash</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">31,956</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Trade accounts receivable, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,341</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Other current assets </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,884</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total current assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>37,348</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>FIXED ASSETS, NET:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Drilling units, machinery and equipment, net </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">675,420</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total fixed assets, net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>675,420</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>OTHER NON-CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Restricted cash </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">20,008</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total non-current assets, net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>20,008</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>732,776</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>LIABILITIES AND STOCKHOLDERS' EQUITY</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>CURRENT LIABILITIES:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Current portion of long-term debt, net of deferred financing costs </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">164,218</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accounts payable and other current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">5,218</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accrued liabilities </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,791</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>171,227</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>NON-CURRENT LIABILITIES</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Long term debt, net of current portion and deferred financing costs </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">82,947</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total non-current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>82,947</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>COMMITMENTS AND CONTINGENCIES </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>SHAREHOLDERS' EQUITY:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Common stock, $20 par value; 1,000 shares authorized and issued at December 31, 2016</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">20</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Additional paid-in capital</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">960</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Retained earnings </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">477,622</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total shareholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>478,602</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total liabilities and shareholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>732,776</b></font></div></td>
</tr>
<tr>
<td style="width:565px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:66px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(b) Use of estimates:</b></i><b> </b>The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(c) Comprehensive income/(loss):</b></i><b> </b>The Company's comprehensive income/(loss) is comprised of net income/(loss), actuarial gains/losses related to the adoption and implementation of Accounting Standard Codification ("ASC") 715, "Compensation-Retirement Benefits", as well as losses in the fair value of the derivatives that qualify for hedge accounting in accordance with ASC 815 "Derivatives and Hedging" and realized gains/losses on cash flow hedges associated with capitalized interest in accordance with ASC 815-30-35-38 "Derivatives and Hedging".</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During 2013, the Company adopted the requirements of Accounting Standard Update ("ASU") 2013-02, "Comprehensive Income (Topic 220) - Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income". The objective of this amendment is to improve the reporting of reclassifications out of accumulated other comprehensive income. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under US GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under US GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under US GAAP that provide additional detail about those amounts.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(d) Cash and cash equivalents:</b></i><b> </b>The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(e) Restricted cash:</b></i> Restricted cash may include (i) minimum liquidity collateral requirements or minimum required cash deposits, as defined in the Company's loan agreements; (ii) taxes withheld from employees and deposited in designated bank accounts; (iii) amounts pledged as collateral for bank guarantees to suppliers and, (iv) amounts pledged as collateral for credit facilities and swap agreements.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(f) Trade accounts receivable net:</b></i> The amount shown as accounts receivable, trade, at each balance sheet date, includes receivables from customers, net of an allowance for doubtful receivables. At each balance sheet date, all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate allowance for doubtful receivables. As of December 31, 2015 and 2016, the provision for doubtful receivables was $117,438 and $22,368, respectively. </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(g) Concentration of credit risk:</b></i> Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents; trade accounts receivable and derivative contracts (interest rate swaps and foreign currency contracts). The maximum exposure to loss due to credit risk is the book value at the balance sheet date. The Company places its cash and cash equivalents, consisting mostly of bank deposits, with qualified financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions. The Company is exposed to credit risk in the event of non-performance by counter parties to derivative instruments; however, the Company limits its exposure by diversifying among counter parties. When considered necessary, additional arrangements are put in place to minimize credit risk, such as letters of credit or other forms of payment guarantees. The Company limits its credit risk with trade accounts receivable by performing ongoing credit evaluations of its customers' financial condition and generally does not require collateral for its trade accounts receivable. The Company has made advances for the construction of drilling units in a major shipyard in Korea. The ownership of the drilling units is transferred from the yard to the Company at delivery. As of December 31, 2016, cumulative installment payments made to the yard amounted to approximately $466,258 for the two drilling units under construction (Note 6). These installment payments are secured with irrevocable letters of guarantee, or "refund guarantees", issued by financial institutions.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(h) Advances for drilling units under construction and related costs:</b></i> This represents amounts expended by the Company in accordance with the terms of the construction contracts for drilling units as well as other expenses incurred directly or under a management agreement with a related party in connection with on site supervision. In addition, interest costs incurred during the construction (until the asset is substantially complete and ready for its intended use) are capitalized. The carrying value of drilling units under construction represents the accumulated costs at the balance sheet date. Cost components include payments for yard installments and variation orders, commissions to a related party, construction supervision, equipment, spare parts and capitalized interest.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(i) Capitalized interest:</b></i> Interest expense is capitalized during the construction period of drilling units based on accumulated expenditures for the applicable project at the Company's current rate of borrowing. The amount of interest expense capitalized in an accounting period is determined by applying an interest rate (the "capitalization rate") to the average amount of accumulated expenditures for the asset during the period. The capitalization rates used in an accounting period are based on the rates applicable to borrowings outstanding during the period. The Company does not capitalize amounts in excess of actual interest expense incurred in the period. If the Company's financing plans associate a specific new borrowing with a qualifying asset, the Company uses the rate on that borrowing as the capitalization rate to be applied to that portion of the average accumulated expenditures for the asset that does not exceed the amount of that borrowing. If average accumulated expenditures for the asset exceed the amounts of specific new borrowings associated with the asset, the capitalization rate applied to such excess is a weighted average of the rates applicable to other borrowings of the Company. Capitalized interest expense for the years ended December 31 2014, 2015 and 2016, amounted to $37,342, $26,055 and $28,265, respectively (Note 13).</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(j) Insurance claims:</b></i> The Company records insurance claim recoveries for insured losses incurred on damages to fixed assets, loss of hire and for insured crew medical expenses under "Other current assets". Insurance claims are recorded, net of any deductible amounts, at the time the Company's fixed assets suffer insured damages or loss due to the drilling unit being wholly or partially deprived of income as a consequence of damage to the unit or when crew medical expenses are incurred, recovery is probable under the related insurance policies and the Company can make an estimate of the amount to be reimbursed following the insurance claim.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(k) Foreign currency translation: </b></i>The functional currency of the Company is the U.S. Dollar since the Company operates in international drilling markets and therefore, primarily transacts business in U.S. Dollars. The Company's accounting records are maintained in U.S. Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are translated into U.S. Dollars at the year-end exchange rates. Resulting gains or losses are included in "Other, net" in the accompanying consolidated statements of operations.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b><i><b>(l) Drilling units, machinery and equipment, net:</b></i><b> </b>Drilling units are stated at historical cost less accumulated depreciation. Such costs include the cost of adding or replacing parts of drilling unit machinery and equipment when the cost is incurred, if the recognition criteria are met. The recognition criteria require that the cost incurred extends the useful life of a drilling unit. The carrying amounts of those parts that are replaced are written off and the cost of the new parts is capitalized. Depreciation is calculated on a straight- line basis over the useful life of the assets after considering the estimated residual value as follows: bare deck 30 years and other asset parts from five to 30 years for the drilling units.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(m) Impairment of long-lived assets: </b></i>The Company reviews for impairment long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. To the extent impairment indicators are present; the Company assesses recoverability of the carrying value of the asset by estimating the undiscounted future net cash flows expected to result from the asset.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In developing estimates of future undiscounted cash flows, the Company makes assumptions and estimates about the drilling units future performance, with the significant assumptions being related to drilling rates, fleet utilization, operating expenses, capital expenditures, class survey costs,  residual value and the estimated remaining useful life of each drilling unit.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The projected net operating cash flows are determined by considering the drilling revenues from existing drilling contracts for the fixed days, while for the unfixed days the Company uses an estimated daily rate equivalent by utilizing available market data. The salvage value used in the impairment test is estimated using the Light Weight Tons (LWT) and the market scrap rate. The remaining significant assumptions used to develop estimates of future undiscounted cash flows are based on historical trends as well as future expectations. Although the Company believes that the assumptions used to evaluate potential impairment are reasonable and appropriate, such assumptions are highly subjective. If the Company's estimate of undiscounted future cash flows for any drilling unit is lower than the carrying value, the carrying value is written down, by recording a charge to operations, to the drilling units' fair market value if the fair market value is lower than the vessel's carrying value. The fair market value for the drilling unit is obtained by independent appraisals. </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As a result of the impairment review, the Company determined that the carrying amounts of its assets held for use were recoverable and therefore, concluded that no impairment loss was necessary for the year ended December 31, 2014. For the year ended December 31, 2015 and 2016, as a result of the impairment review, the Company determined that the carrying amount of two and eight drilling units were not recoverable and, therefore, a charge of $414,986 and $3,658,815, respectively, was recognized and is included in "Impairment loss", in the accompanying consolidated statement of operations (Note 7), the impairment of $92,371 for the drilling unit under construction <i>Ocean Rig Amorgos</i> (Note 6) and the impairment of $25,152 relating to the cashflow hedges for interest capitalized on vessels impaired (Note 12).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(n) Class costs:</b></i><b> </b>The Company follows the direct expense method of accounting for periodic class costs incurred during special surveys of drilling units, normally every five years. Class costs and other maintenance costs are expensed in the period incurred and included in "Drilling units operating expenses."</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(o) Deferred financing costs: </b></i>Deferred financing costs include fees, commissions and legal expenses associated with the Company's long- term debt. These costs are amortized over the life of the related debt using the effective interest method and are included in interest expense. Unamortized fees relating to loans repaid or refinanced as debt extinguishments are expensed as interest and finance costs in the period the repayment or extinguishment is made. Arrangement fees paid to lenders for loans which the Company has not drawn down are capitalized and included in other current and non-current assets. Amortization and write offs for each of the years ended December 31 2014, 2015 and 2016, amounted to $42,995, $24,033 and $21,040, respectively (Note 13).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(p) Revenue and related expenses:</b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Revenues: </b>  The Company's services and deliverables are generally sold based upon contracts with customers that include fixed or determinable prices.  The Company recognizes revenue when delivery occurs, as directed by its customer, and collectability is reasonably assured. The Company evaluates if there are multiple deliverables within its contracts and whether the agreement conveys the right to use the drilling units for a stated period of time and meets the criteria for lease accounting, in addition to providing a drilling services element, which is generally compensated for by day rates. In connection with drilling contracts, the Company may also receive revenues for preparation and mobilization of equipment and personnel or for capital improvements to the drilling units and day rate or fixed price mobilization and demobilization fees. Revenues are recorded net of agents' commissions. There are two types of drilling contracts: well contracts and term contracts. </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(i) Well contracts: </b>Well contracts are contracts under which the assignment is to drill a certain number of wells. Revenue from day-rate based compensation for drilling operations is recognized in the period during which the services are rendered at the rates established in the contracts. All mobilization revenues, direct incremental expenses of mobilization and contributions from customers for capital improvements are initially deferred and recognized as revenues and expenses, as applicable, over the estimated duration of the drilling period. To the extent that expenses exceed revenue to be recognized, they are expensed as incurred. Demobilization revenues and expenses are recognized over the demobilization period. All revenues for well contracts are recognized as "Service revenues" in the consolidated statement of operations.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(ii) Term contracts: </b>Term contracts are contracts under which the assignment is to operate the unit for a specified period of time. For these types of contracts the Company determines whether the arrangement is a multiple element arrangement containing both a lease element and drilling services element. For revenues derived from contracts that contain a lease, the lease elements are recognized as "Leasing revenues" in the consolidated statement of operations on a basis approximating straight line over the lease period. The drilling services element is recognized as "Service revenues" in the period in which the services are rendered at estimated fair value. Revenues related to the drilling element of mobilization and direct incremental expenses of drilling services are deferred and recognized over the estimated duration of the drilling period. To the extent that expenses exceed revenue to be recognized, they are expensed as incurred. Demobilization fees and expenses are recognized over the demobilization period. Contributions from customers for capital improvements are initially deferred and recognized as revenues over the estimated duration of the drilling contract.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other revenues: </b> Other revenues represent the revenues derived from customer contract terminations. The Company recognizes revenues from contract terminations as it has fulfilled obligations for such terminations and when all contingencies have expired. </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b><i><b>(q) Earnings / (loss) per common share:</b></i> Basic earnings / (loss) per common share are computed by dividing net income/ (loss) available to common stockholders by the weighted average number of common shares outstanding during the year. Diluted earnings per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised. Dilution has been computed by the treasury stock method whereby all of the Company's dilutive securities are assumed to be exercised or converted and the proceeds used to repurchase common shares at the weighted average market price of the Company's common stock during the relevant periods. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings / (loss) per share computation.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(r) Segment reporting: </b></i>The Company has determined that it operates in one reportable segment, the offshore drilling operations.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(s) Financial instruments</b></i><b>: </b>The Company designates its derivatives based upon guidance of ASC 815, "Derivatives and Hedging" which establishes accounting and reporting requirements for derivative instruments, including certain derivative instruments embedded in other contracts and for hedging activities. The guidance on accounting for certain derivative instruments and certain hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability measured at its fair value, with changes in fair value recognized in earnings unless specific hedge accounting criteria are met.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i)</font><font style="font-family:Times New Roman;font-size:6.7px;color:#000000; ">            </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Hedge accounting:</b> At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company is party to interest swap agreements where it receives a floating interest rate and pays a fixed interest rate for a certain period. Contracts which meet the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The effective portion of the gain or loss on the hedging instrument is recognized directly as a component of "Accumulated other comprehensive income/ (loss)" in equity, while any ineffective portion, if any, is recognized immediately in current period earnings.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in the consolidated statement of operations. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to net profit or loss for the year as financial income or expense.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii)</font><font style="font-family:Times New Roman;font-size:6.7px;color:#000000; ">            </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other derivatives:</b> Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in current period earnings.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(t) Fair value measurements: </b></i>The Company follows the provisions of ASC 820, "Fair Value Measurements and Disclosures" which defines and provides guidance as to the measurement of fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entities own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 10).</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(u) Income taxes:</b></i><b> </b>Income taxes have been provided for based upon the tax laws and rates in effect in the countries in which the Company's operations are conducted and income is earned. There is no expected relationship between the provision for/or benefit from income taxes and income or loss before income taxes because the countries in which the Company operates have taxation regimes that vary not only with respect to the nominal rate, but also in terms of the availability of deductions, credits and other benefits. Variations also arise because income earned and taxed in any particular country or countries may fluctuate from year to year. Deferred tax assets and liabilities are recognized for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of the Company's assets and liabilities using the applicable jurisdictional tax rates in effect at the year in which the asset is realized or the liability settled. A valuation allowance for deferred tax assets is recorded when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. The Company accrues interest and penalties related to its liabilities for unrecognized tax benefits as a component of income tax expense.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(v) Commitments and contingencies:</b></i> Provisions are recognized when: the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable estimate of the amount of the obligation can be made. Provisions are reviewed at each balance sheet date.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(w) Stock-based compensation: </b></i>Stock-based compensation represents vested and non-vested common stock granted to certain employees for their services. The Company calculates total compensation expense for the award based on its fair value on the grant date and amortizes the total compensation on an accelerated basis over the vesting period of the award or service period (Note 11).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(x)  Inventories:</b> </i>Inventories consist of short term operating supplies held in warehouses which are stated at their historical cost, and consumable bunkers (if any), whose cost is determined by the first in - first out method.  Inventories are recorded under "Other Current Assets".</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(y) Consolidation:</b></i> In February 2015, the FASB issued Accounting Standards Update No. 2015-02 (ASU 2015-02): Consolidation - Amendments to the Consolidation Analysis, which changes the guidance as to whether an entity is a variable interest entity (VIE) or a voting interest entity and how related parties are considered in the VIE model. As of December 31, 2016, the Company has adopted the provisions of ASU 2015-02, which did not impact the consolidated financial statements.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(z) Going Concern:</b></i></font><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In August 2014, the FASB issued ASU No. 2014-15-Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date of financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company has adopted the provisions of ASU 2014-15 and provided the required note disclosure (Note 3).</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(aa) Recent accounting pronouncements:</b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Leases:</b></i></font><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC 842), which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The new lease standard does not substantially change lessor accounting. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. Under the updated accounting standards, the Company's drilling contracts may contain a lease component and the adoption, therefore, may require that the Company separately recognizes revenues associated with the lease and services components. Given the interaction with the accounting standard update related to revenue from contracts with customers, the Company expects to adopt the updates concurrently, effective January 1, 2018 expecting to apply the modified retrospective approach. The adoption and ultimate effect on the consolidated financial statements will be based on an evaluation of the Company's contracts. The Company is currently evaluating the related requirements to determine the effects such requirements may have on the consolidated financial statements.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> Revenue from Contracts with Customers: </b></i>In March 2016, the FASB issued ASU 2016-08, "Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"), which clarifies the implementation guidance on principal versus agent considerations. In May and April 2016, the FASB issued two Updates with respect to Topic 606: ASU 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing" and ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients." The amendments in these Updates do not change the core principle of the guidance in Topic 606, which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services by applying the following steps: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 simply clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606; namely, (1) "Assessing the Collectibility Criterion in Paragraph 606-10-25-1(e) and Accounting for Contracts That Do Not Meet the Criteria for Step 1 (Applying Paragraph 606-10-25-7)," (2) "Presentation of Sales Taxes and Other Similar Taxes Collected from Customers," (3) "Noncash Consideration," (4) "Contract Modifications at Transition," (5) "Completed Contracts at Transition," and (6)  "Technical Correction." The amendments in these Updates also affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in these Updates are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date," has deferred the effective date of Update 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The new revenue standard may be applied using either of the following transition methods: (1) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (2) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which includes additional footnote disclosures). Due to the significant interaction between Update 2014-09 and Accounting Standards Update 2016-02 Leases (ASC 842), the Company expects to adopt Update 2014-09 and Update 2016-02 concurrently with an effective date of January 1, 2018. The Company expects to apply the modified retrospective approach to the adoption. The Company is evaluating the effect Update 2014-09 and Update 2016-02 will have on the consolidated financial statements and related disclosures.</font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Share-based Payments: </b></i>On March 30, 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which requires recognition of the income tax effects of equity awards in the income statement when the awards vest or are settled. The standard also allows employers to withhold shares upon settlement of an award for an amount up to the employees' maximum individual tax rate in the relevant jurisdiction without resulting in liability classification of the award. The standard permits entities to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards. We will adopt the standard for our annual and interim periods beginning January 1, 2017. The Company does not expect the adoption of the standard to have a material effect on its consolidated financial statements and related disclosures.</font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Statement of Cash Flows:</b></i> In August 2016, the FASB issued ASU No. 2016-15- Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments which addresses certain cash flow issues with the objective of reducing the existing diversity in practice: ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period, however, early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures. In November 2016, the FASB issued ASU No. 2016-18—Statement of Cash Flows (Topic 230) - Restricted Cash which addresses the requirement that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this Update apply to all entities that have restricted cash or restricted cash equivalents and are required to present a statement of cash flows under Topic 230. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period, however early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Measurement of Credit Losses on Financial Instruments:</b></i> On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The new model will apply to: (1) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, (2) loan commitments and certain other off-balance sheet credit exposures, (3) debt securities and other financial assets measured at fair value through other comprehensive income, and (4) beneficial interests in securitized financial assets. This update is effective for annual and interim periods beginning after January 1, 2020. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.</font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Deferred Taxes:</b></i> On November 20, 2015, the FASB issued ASU 2015-17, <i>Balance Sheet Classification of Deferred Taxes</i>, which requires all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The new guidance, however, does not change the existing requirement that only permits offsetting within a tax jurisdiction. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.<b>      </b></font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Tax Accounting for Intra-Entity Asset Transfers:</b></i> On October 24, 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory, which requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transaction occurs as opposed to deferring tax consequences and amortizing them into future periods. This update is effective for annual and interim periods, beginning after January 1, 2018, with early adoption permitted and requires a modified retrospective approach with a cumulative-effect adjustment directly to retained earnings at the beginning of the period of adoption. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Definition of business:</b></i> In January 2017, the FASB issued ASU 2017-01 Business Combinations to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets of business. Under current implementation guidance, the existence of an integrated set of acquired activities (inputs and processes that generate outputs) constitutes an acquisition of business. This ASU provides a screen to determine when a set of assets and activities does not constitute a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set in not a business. This update is effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years. The amendments of this ASU should be applied prospectively on or after the effective date. Early adoption is permitted, including adoption in an interim period 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the ASU, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and 2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. This FASB standard Update is not expected to have a material effect on the Company's future or historical statements of cash flows; however, Management will assess such impact, if circumstances arise.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"><b> </b></font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(aa) Recent accounting pronouncements:</b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Leases:</b></i></font><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC 842), which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The new lease standard does not substantially change lessor accounting. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. Under the updated accounting standards, the Company's drilling contracts may contain a lease component and the adoption, therefore, may require that the Company separately recognizes revenues associated with the lease and services components. Given the interaction with the accounting standard update related to revenue from contracts with customers, the Company expects to adopt the updates concurrently, effective January 1, 2018 expecting to apply the modified retrospective approach. The adoption and ultimate effect on the consolidated financial statements will be based on an evaluation of the Company's contracts. The Company is currently evaluating the related requirements to determine the effects such requirements may have on the consolidated financial statements.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> </b></i></font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b> Revenue from Contracts with Customers: </b></i>In March 2016, the FASB issued ASU 2016-08, "Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"), which clarifies the implementation guidance on principal versus agent considerations. In May and April 2016, the FASB issued two Updates with respect to Topic 606: ASU 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing" and ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients." The amendments in these Updates do not change the core principle of the guidance in Topic 606, which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services by applying the following steps: (1) Identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 simply clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606; namely, (1) "Assessing the Collectibility Criterion in Paragraph 606-10-25-1(e) and Accounting for Contracts That Do Not Meet the Criteria for Step 1 (Applying Paragraph 606-10-25-7)," (2) "Presentation of Sales Taxes and Other Similar Taxes Collected from Customers," (3) "Noncash Consideration," (4) "Contract Modifications at Transition," (5) "Completed Contracts at Transition," and (6)  "Technical Correction." The amendments in these Updates also affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in these Updates are the same as the effective date and transition requirements in Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date," has deferred the effective date of Update 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The new revenue standard may be applied using either of the following transition methods: (1) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (2) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which includes additional footnote disclosures). Due to the significant interaction between Update 2014-09 and Accounting Standards Update 2016-02 Leases (ASC 842), the Company expects to adopt Update 2014-09 and Update 2016-02 concurrently with an effective date of January 1, 2018. The Company expects to apply the modified retrospective approach to the adoption. The Company is evaluating the effect Update 2014-09 and Update 2016-02 will have on the consolidated financial statements and related disclosures.</font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Share-based Payments: </b></i>On March 30, 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which requires recognition of the income tax effects of equity awards in the income statement when the awards vest or are settled. The standard also allows employers to withhold shares upon settlement of an award for an amount up to the employees' maximum individual tax rate in the relevant jurisdiction without resulting in liability classification of the award. The standard permits entities to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards. We will adopt the standard for our annual and interim periods beginning January 1, 2017. The Company does not expect the adoption of the standard to have a material effect on its consolidated financial statements and related disclosures.</font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Statement of Cash Flows:</b></i> In August 2016, the FASB issued ASU No. 2016-15- Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments which addresses certain cash flow issues with the objective of reducing the existing diversity in practice: ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period, however, early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures. In November 2016, the FASB issued ASU No. 2016-18—Statement of Cash Flows (Topic 230) - Restricted Cash which addresses the requirement that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this Update apply to all entities that have restricted cash or restricted cash equivalents and are required to present a statement of cash flows under Topic 230. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period, however early adoption is permitted. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Measurement of Credit Losses on Financial Instruments:</b></i> On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The new model will apply to: (1) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, (2) loan commitments and certain other off-balance sheet credit exposures, (3) debt securities and other financial assets measured at fair value through other comprehensive income, and (4) beneficial interests in securitized financial assets. This update is effective for annual and interim periods beginning after January 1, 2020. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.</font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Deferred Taxes:</b></i> On November 20, 2015, the FASB issued ASU 2015-17, <i>Balance Sheet Classification of Deferred Taxes</i>, which requires all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The new guidance, however, does not change the existing requirement that only permits offsetting within a tax jurisdiction. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.<b>      </b></font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Tax Accounting for Intra-Entity Asset Transfers:</b></i> On October 24, 2016, the FASB issued ASU 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory, which requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transaction occurs as opposed to deferring tax consequences and amortizing them into future periods. This update is effective for annual and interim periods, beginning after January 1, 2018, with early adoption permitted and requires a modified retrospective approach with a cumulative-effect adjustment directly to retained earnings at the beginning of the period of adoption. The Company is currently evaluating the provisions of this guidance and assessing its impact on its consolidated financial statements and notes disclosures.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Definition of business:</b></i> In January 2017, the FASB issued ASU 2017-01 Business Combinations to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets of business. Under current implementation guidance, the existence of an integrated set of acquired activities (inputs and processes that generate outputs) constitutes an acquisition of business. This ASU provides a screen to determine when a set of assets and activities does not constitute a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set in not a business. This update is effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years. The amendments of this ASU should be applied prospectively on or after the effective date. Early adoption is permitted, including adoption in an interim period 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the ASU, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and 2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. This FASB standard Update is not expected to have a material effect on the Company's future or historical statements of cash flows; however, Management will assess such impact, if circumstances arise.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(z) Going Concern:</b></i></font><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In August 2014, the FASB issued ASU No. 2014-15-Presentation of Financial Statements - Going Concern. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date of financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company has adopted the provisions of ASU 2014-15 and provided the required note disclosure (Note 3).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2016</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>ASSETS</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Cash and cash equivalents</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">167</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Restricted cash</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">31,956</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Trade accounts receivable, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,341</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Other current assets </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,884</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total current assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>37,348</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>FIXED ASSETS, NET:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Drilling units, machinery and equipment, net </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">675,420</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total fixed assets, net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>675,420</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>OTHER NON-CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Restricted cash </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">20,008</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total non-current assets, net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>20,008</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>732,776</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>LIABILITIES AND STOCKHOLDERS' EQUITY</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>CURRENT LIABILITIES:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Current portion of long-term debt, net of deferred financing costs </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">164,218</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accounts payable and other current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">5,218</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accrued liabilities </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,791</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>171,227</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>NON-CURRENT LIABILITIES</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Long term debt, net of current portion and deferred financing costs </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">82,947</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total non-current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>82,947</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>COMMITMENTS AND CONTINGENCIES </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>SHAREHOLDERS' EQUITY:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Common stock, $20 par value; 1,000 shares authorized and issued at December 31, 2016</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">20</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Additional paid-in capital</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">960</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Retained earnings </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">477,622</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total shareholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>478,602</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total liabilities and shareholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>732,776</b></font></div></td>
</tr>
<tr>
<td style="width:565px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:66px;"></td>
</tr>
</table>
<div></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(x)  Inventories:</b> </i>Inventories consist of short term operating supplies held in warehouses which are stated at their historical cost, and consumable bunkers (if any), whose cost is determined by the first in - first out method.  Inventories are recorded under "Other Current Assets".</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>18. Subsequent Events:</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>18.1 </b>On February 10, 2017, the Company reached an agreement with ConocoPhillips to terminate the contract of the <i>Ocean Rig Athena</i>. As part of the agreement, ConocoPhillips will pay a termination fee.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>18.2 </b>Effective March 21, 2017, the Company cancelled the $369.0 million of the 7.25% Senior Unsecured Notes due in 2019 and $340.3 million of the 6.5% Senior Secured Notes due in 2017 held by wholly owned subsidiaries of the Company.<b>  </b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"><b> </b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>17. Commitments and Contingencies</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>17.1 Legal proceedings</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the offshore drilling business.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As part of the Company's normal course of operations, the Company's customer may disagree on amounts due to the Company under the provision of the contracts which are normally settled through negotiations with the customer. Disputed amounts are normally reflected in revenues at such time as the Company reaches agreement with the customer on the amounts due.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">OCR Falklands Drilling Inc., a subsidiary of the Company, commenced arbitration proceedings against Premier Oil Plc. and Noble Energy Falklands Ltd. for terminating the contract on February 12, 2016, for the drilling unit Eirik Raude. Subsequently, the parties reached a commercial agreement to amicably settle this matter and a Settlement Agreement dated February 6, 2017, was entered into among the parties.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HPOR Servicos De Consultaria Ltda (“HPOR”) on September 1, 2016, commenced arbitration proceedings against, amongst others, the Company seeking payment of certain commissions that HPOR is alleging were due by, amongst others, the Company for certain agency and marketing services provided for the <i>Ocean Rig Mykonos</i> and the <i>Ocean Rig Corcovado</i> drilling units. The Company is disputing such allegations and has counterclaimed repayment of the commission already paid to HPOR.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 7, 2016, two of the Company's subsidiaries commenced arbitration proceedings against Total E&P Angola for the termination of the contract with the drilling unit <i>Ocean Rig Olympia</i> and we expect to have our hearing on the matter in June 2017.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On December 22, 2016, Mayze Services Limited (“Mayze”) issued a claim before the English High Court of Justice against the Company and others seeking payment of GBP 5,230,074.13 in respect of fees allegedly owed in connection with marketing services provided by Mayze to the Company. We are in the process of defending these proceedings.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Except for the matters discussed above, the Company is not a party to any material litigation where claims or counterclaims have been filed against the Company other than routine legal proceedings incidental to its business.</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>17.2 Purchase Obligations:</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table sets forth the Company's contractual purchase obligations for the <i>Ocean Rig Santorini</i> and the <i>Ocean Rig Crete</i>, as of December 31, 2016. </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2018</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2019</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:331px;height:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Drilling units building contracts</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">417,931</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">520,165</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">938,096</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:331px;height:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total obligations</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>417,931</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>520,165</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>938,096</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:331px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:74px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:74px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:74px;"></td>
<td style="width:8px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>16.  Geographic information for offshore drilling operations</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The revenue shown in the table below is based upon the location where the drilling takes place:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:88px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:81px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Country</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Angola</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">807,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">527,098</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">500,413</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Brazil</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">581,635</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">581,438</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">517,885</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Congo</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">157,235</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">241,953</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Norway</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">220,044</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">231,189</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,925</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Falklands</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">154,606</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,106</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;height:13px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Senegal</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> -</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">52,214</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">289,162</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ivory Coast</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">97,232</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">33,723</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,164</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">South Africa</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">110,424</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other service revenues</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,697</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,059</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total service revenues</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,817,077</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,748,200</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,653,667</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:381px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:87px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:87px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:80px;"></td>
<td style="width:0px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The drilling units the <i>Leiv Eiriksson, </i>the<i> Eirik Raude</i>, the<i> Ocean Rig Corcovado</i>, the<i> Ocean Rig Olympia</i>, the<i> Ocean Rig Poseidon</i>, the<i> Ocean Rig Mykonos, </i>the<i> Ocean Rig Mylos, </i>the<i> Ocean Rig Skyros</i>, the<i> Ocean Rig Athena</i>, the <i>Ocean Rig Apollo </i>and the <i>Ocean Rig Paros</i> constitute the Company's long lived assets. For the year ended, December 31, 2016 and 2015, other service revenues relate to management fees from the services provided by the Company to the offshore drilling unit <i>Cerrado</i>.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>15. Earnings / (loss) per share</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:143px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>    2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:42px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:143px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>    2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:42px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>     2016</b></font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:47px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b> </b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Income (numerator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted- average number of outstanding shares (denominator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount per share</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Income (numerator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted- average number of outstanding share (denominator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount per share</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:center;margin-left: 27.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Loss (numerator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted- average number of outstanding shares (denominator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount per share</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;height:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Net income/ loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">259,803</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">80,014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:37px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:102px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,241,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;background-color:#ffffff"><div style="margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Less: Allocation of undistributed earnings to non-vested stock</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(772</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(1,175</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:37px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:102px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;background-color:#cceeff"><div style="margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Basic and diluted Earnings/ (loss) per share attributable to common stockholders</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>259,031</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>131,837,227</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:36px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>1.96</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>78,839</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>138,757,176</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:37px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>0.57</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:102px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(3,241,518)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>96,950,847</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(33.43)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:95px;"></td>
<td style="width:0px;"></td>
<td style="width:8px;"></td>
<td style="width:55px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:9px;"></td>
<td style="width:65px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:36px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:8px;"></td>
<td style="width:55px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:9px;"></td>
<td style="width:65px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:4px;"></td>
<td style="width:37px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:7px;"></td>
<td style="width:102px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:9px;"></td>
<td style="width:65px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:47px;"></td>
<td style="width:0px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Non-vested share-based payment awards that contain rights to receive non forfeitable dividends or dividend equivalents (whether paid or unpaid) and participate equally in undistributed earnings/ loss are participating securities and, thus, are included in the two-class method of computing earnings per share for the year ended December 31, 2014, 2015 and 2016. For the years ended December 31, 2014 and 2015, non-vested participating restricted common stock were not included in the computation of diluted earnings/ loss per share because the effect is anti-dilutive. </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>13. Interest and Finance Costs:</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated statements of operations are analyzed as follows:</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:219px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest costs on long term debt</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">261,137</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">276,510</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">235,182</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;height:13px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Amortization and write off of financing fees (Note 2)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">42,995</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">24,033</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">21,040</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Discount on receivable from drilling contract</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,018</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(2,821</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Capitalized borrowing costs (Note 2)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(37,342</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(26,055</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(28,265</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Commissions, commitment fees and other financial expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">33,341</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,842</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,845</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>300,131</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>280,348</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>226,981</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:414px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>12. Accumulated Other Comprehensive Income / (Loss):</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts in the accompanying balance sheets are analyzed as follows:</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Cash flows hedges realized loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(26,187</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Actuarial pension gain</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,346</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,346</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(22,841</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,346</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>11. Common Stock and Additional Paid-in Capital:</b></font></div>
<div style="margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>General</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company's authorized capital stock consisted of 1,000,000,000 common shares and 500,000,000 preferred shares par value $0.01 per share.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">All Company's common stock has equal voting rights and participates equally in dividend distributions.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Dividends</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In March 2015 and in May 2015, the Company paid dividends of $0.19 per common share to its shareholders, with respect to the quarters ended December 31, 2014 and March 31, 2015, respectively.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Issuance of common shares</b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On June 8, 2015, the Company successfully completed the offering of 28,571,428 shares of its common stock, par value $0.01 per share, at a price of $7.00 per share, resulting in proceeds of $194,134, after deducting placement fees. As part of the offering, Mr. George Economou, the Company's Chairman and Chief Executive Officer, purchased $10,000, or 1,428,571 shares, of common stock in the offering at the public offering price.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Treasury stock</b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the year ended December 31, 2015, the Company exchanged the $120,000 Exchangeable Promissory Note for an aggregate amount of 22,222,222 of the Company's shares owned by DryShips (Note 4). These shares were not retired and are held as treasury stock.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 5, 2016, the Company's unrestricted subsidiary, Ocean Rig Investments Inc., purchased 56,079,533 shares of the Company's common stock previously held by DryShips (Note 4). These shares were not retired and are treated as treasury stock for accounting purposes since under U.S. GAAP the parent's shares purchased by a subsidiary are treated as treasury shares. The Company is incorporated in the Cayman Islands. Under Cayman Islands law, shares of a parent company held by a subsidiary company are not characterized as treasury shares, are entitled to vote and be counted in determining the total number of outstanding shares in the Company.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Restricted stock awards</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 21, 2012, the Company's Board of Directors approved the 2012 Equity Incentive Plan (the "Plan") and reserved a total of 2,000,000 common shares. Under the Plan, officers, key employees and directors are eligible to receive awards of stock options, stock appreciation rights, restricted stock, restricted stock units, phantom stock units and unrestricted stock.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 31, 2014, the Company's Compensation Committee approved the grant of 161,200 shares of non-vested common stock to employees of Ocean Rig. The shares vest over a period of three years. The stock-based compensation is being recognized to expenses over the vesting period and based on the fair value of the Ocean Rig shares on the grant date of $17.79 per share.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On August 19, 2014, the Compensation Committee approved a bonus in the form of 150,000 shares to be granted to Azara for the contribution of Mr. George Economou for Chief Executive Officer's services rendered during 2013. The shares vest over a period of three years. The stock-based compensation is being recognized to expenses over the vesting period and based on the fair value of the Ocean Rig shares on the grant date of $18.37 per share.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On November 4, 2014, the Company's Compensation Committee approved the grant of 45,450 shares of non-vested common stock to employees of Ocean Rig. The shares vest over a period of three years. The stock-based compensation is being recognized to expenses over the vesting period and based on the fair value of the Ocean Rig shares on the grant date of $12.60 per share.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On December 30, 2014, the Compensation Committee approved a bonus in the form of 300,000 shares to be granted to Azara for the contribution of Mr. George Economou for Chief Executive Officer's services rendered during 2014. The shares vest over a period of three years. The stock-based compensation is being recognized to expenses over the vesting period and based on the fair value of the Ocean Rig shares on the grant date of $9.46 per share.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 29, 2015, the Company's Compensation Committee approved the grant of 173,200 shares of non-vested common stock to employees of Ocean Rig.  The shares vest over a period of three years.  The stock-based compensation is being recognized to expenses over the vesting period and based on the fair value of the Ocean Rig shares on the grant date of $7.24 per share.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On August 5, 2015, the Company's Compensation Committee approved the grant of 13,502 shares of non-vested common stock to employees of Ocean Rig. The shares vest over a period of three years. The stock-based compensation is being recognized to expenses over the vesting period and based on the fair value of the Ocean Rig shares on the grant date of $3.19 per share.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015, 609,887 shares have vested, while 235,576 shares were forfeited due to employees' resignations.</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On May 17, 2016, the Company's Compensation Committee approved the discontinuance of the granting of stock awards to the employees of the Company. Following the approval, all the Company's restricted stock awards, apart from those awarded to Azara, were cancelled.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2016, 343,885 shares have vested.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A summary of the status of Ocean Rig's non vested shares as of December 31, 2015 and 2016 and movement during the years then ended, is presented below.</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">  </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Number of</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>non vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted average grant date fair value per non vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>612,798</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>13.49</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">186,702</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6.95</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Forfeited</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(63,950</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">12.29</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Vested</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(330,252</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13.33</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>405,298</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>10.80</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Forfeited</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(155,298</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">10.08</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Vested</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(150,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">12.43</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>100,000</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>9.46</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Number of</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted average grant date fair value per vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>As at December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>309,452</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>17.22</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted and vested</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">52,802</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6.89</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Non vested shares granted in prior years and vested 2015</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">277,450</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">14.56</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted and vested shares in prior years, but cancelled during 2015</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(29,817</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">16.59</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>As at December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>609,887</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>15.15</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Vested shares granted in prior years</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">150,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">12,43</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted and vested shares in prior years, but cancelled during 2016</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(416,002</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13.52</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>As at December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>343,885</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>15.94</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2015 and 2016, there was $2,299 and $314 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted by the Company, respectively. That cost is expected to be recognized over a period of two years. The amounts of $3,576, $3,676 and $1,506 represent the stock based compensation expense which are recorded in "General and administrative expenses", in the accompanying consolidated statements of operations for the years ended December 31, 2014, 2015 and 2016, respectively.  </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>10. Financial Instruments and Fair Value Measurements</b>:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASC 815, "Derivatives and Hedging" requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position. The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in the accompanying consolidated statement of operations.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company enters into interest rate swap transactions to manage interest costs and risk associated with changing interest rates with respect to its variable interest rate loans and credit facilities. The Company also enters from time to time into foreign currency forward contracts in order to manage risks associated with fluctuations in foreign currencies. All of the Company's derivative transactions are entered into for risk management purposes.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2014, the Company had seven interest rate swaps outstanding, with a notional amount of $1.8 billion, maturing from April 2016 through November 2017. As of December 31, 2015, the Company had seven interest rate swaps outstanding, with a notional amount of $1.6 billion, maturing from April 2016 through November 2017. During the year ended December 31. 2016, the Company terminated the interest rate swaps and there were no interest rate swaps outstanding as of December 31, 2016.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Effective January 1, 2011, the Company removed the designation of interest rate swaps previously designated as cash flow hedges and discontinued hedge accounting for the associated interest rate swaps. As a result, as of December 31, 2015, these agreements did not qualify for hedge accounting and, as such, changes in their fair values are included in the accompanying consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated Other Comprehensive Loss also included realized losses on cash flow hedges associated with interest capitalized during prior years under "Advances for drilling units under construction" amounting to $27,776, which according to ASC 815-30-35 is being reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. As a result, during the years ended December 31, 2014, 2015 and 2016, amounts of $1,034, $1,035 and $26,184, respectively, were reclassified into the consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The estimated amount in other comprehensive income/ (loss) of cash flow hedge losses at December 31, 2016, that will be reclassified into earnings within the next twelve months, is zero.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Tabular disclosure of financial instruments is as follows:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fair Values of Derivative Instruments in the Balance Sheets:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Derivatives not designated</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>as Hedging Instruments</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance Sheet Location</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2015</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Fair value</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2016</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Fair value</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Financial Instruments non-current assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,494</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Financial Instruments current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(8,931</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Financial Instruments non-current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(2,743</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total derivatives</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(8,180)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:246px;"></td>
<td style="width:246px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The effect of Derivative Instruments on the Consolidated Statement of Operations:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount of Gain/(Loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Derivatives not designated</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>as hedging instruments</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Location of Gain or (Loss)</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Recognized</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Gain/ (Loss) on  interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(12,671</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(11,513</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(4,388</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td style="width:207px;"></td>
<td style="width:207px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The carrying amounts of cash and cash equivalents, restricted cash, trade accounts receivable, and accounts payable and other current liabilities reported in the consolidated balance sheets approximate their respective fair values because of the short-term nature of these accounts. The fair value of credit facilities is estimated based on current rates offered to the Company for similar debt of the same remaining maturities. Additionally, the Company considers its creditworthiness in determining the fair value of the credit facilities. The carrying value approximates the fair market value for floating rate loans. The fair value of the interest rate swaps was determined using a discounted cash flow method based on market-based LIBOR swap yield curves, taking into account current interest rates and the creditworthiness of both the financial instrument counterparty and the Company. The 7.25% Senior Unsecured Notes, the Drill Rigs Senior Notes and the Term Loan B Facilities have a fixed rate and their estimated fair values are determined through Level 2 inputs of the fair value hierarchy (quoted price in the over-the counter market). While the $462 million Senior Secured Credit Facility, has a floating rate on LIBOR and its' carrying value is approximately the same as its' fair market value.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The estimated fair value of the above 7.25% Senior Unsecured Notes, Drill Rigs Senior Notes, $1.9 billion Secured Term Loan B Facility and $1.3 billion Senior Secured Term Loan B Facility at December 31, 2015, was approximately $100,367, $357,431, $427,168 and $628,242 respectively. For the aforementioned senior notes and term loans their carrying value net of finance fees as at December 31, 2015, was $226,655, $601,845, $1,814,746 and $1,257,484, respectively.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The estimated fair value of the above 7.25% Senior Unsecured Notes, Drill Rigs Senior Notes, $1.9 billion Secured Term Loan B Facility and $1.3 billion Senior Secured Term Loan B Facility at December 31, 2016, was approximately $51,080, $201,129, $1,156,958 and $1,002,304, respectively. For the aforementioned senior notes and term loans their carrying value net of finance fees as at December 31, 2016, was $129,844, $457,745, $1,804,272 and $1,248,747, respectively.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The guidance for fair value measurement applies to all assets and liabilities that are being measured and reported on a fair value basis.  This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values.  The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fair value measurements are classified based upon inputs used to develop the measurement under the following hierarchy:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 1--Quoted market prices in active markets for identical assets or liabilities.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 2--Observable market-based inputs or unobservable inputs that are corroborated by market data.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 3--Unobservable inputs that are not corroborated by market data.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of assets and liabilities measured at fair value on a recurring basis as of the valuation date.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Quoted Prices in</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Active Markets for</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Identical Assets</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 1)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Significant Other</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Observable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 2)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Unobservable</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 3)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps-asset position</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,494</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,494</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps-liability position</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(11,674</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(11,674</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(8,180)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(8,180)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:336px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:7px;"></td>
<td style="width:64px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of assets measured at fair value on a non-recurring basis as of December 31, 2015.</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Quoted Prices in Active</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Markets for Identical</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Assets/Liabilities</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 1)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Significant Other</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Observable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 2)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Unobservable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 3)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Impairment loss</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Non-Recurring measurements:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:87px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:59px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:71px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Long-lived assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:53px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">610,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(414,986</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:53px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:53px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:333px;"></td>
<td style="width:3px;"></td>
<td style="width:8px;"></td>
<td style="width:78px;"></td>
<td style="width:3px;"></td>
<td style="width:3px;"></td>
<td style="width:6px;"></td>
<td style="width:53px;"></td>
<td style="width:3px;"></td>
<td style="width:3px;"></td>
<td style="width:7px;"></td>
<td style="width:64px;"></td>
<td style="width:3px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:56px;"></td>
<td style="width:4px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As a result of the impairment analysis performed for the year ended December 31, 2015, the Company's two drilling units, with a carrying amount of $1,024,986 were written down to their fair value as determined based on the valuations of the independent valuators, resulting in an impairment charge of $414,986 which was included in the accompanying consolidated statement of operations for the year ended December 31, 2015 (Note 7).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of assets measured at fair value on a non-recurring basis as of December 31, 2016.</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Quoted Prices in Active</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Markets for Identical</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Assets/Liabilities</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 1)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Significant Other</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Observable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 2)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Unobservable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 3)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Impairment loss</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Non-Recurring measurements:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:87px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:59px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:71px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Long-lived assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:53px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,035,499</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,658,815</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:53px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:333px;"></td>
<td style="width:3px;"></td>
<td style="width:8px;"></td>
<td style="width:78px;"></td>
<td style="width:3px;"></td>
<td style="width:3px;"></td>
<td style="width:6px;"></td>
<td style="width:53px;"></td>
<td style="width:3px;"></td>
<td style="width:3px;"></td>
<td style="width:7px;"></td>
<td style="width:64px;"></td>
<td style="width:3px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:56px;"></td>
<td style="width:4px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As a result of the impairment analysis performed for the year ended December 31, 2016, the Company's eight drilling units, with a carrying amount of $4,694,314 were written down to their fair value as determined based on the valuations of the independent valuators, resulting in an impairment charge of $3,658,815 which was included in the accompanying consolidated statement of operations for the year ended December 31, 2016 (Note 7), the impairment of $92,371 for the drilling unit under construction <i>Ocean Rig Amorgos</i> (Note 6) and the impairment of $25,152 relating to the cashflow hedges for interest capitalized on vessels impaired (Note 12).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9. Long-term Debt:</b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$1.3 billion Senior Secured Term Loan B Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,283,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,270,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$1.9 billion Secured Term Loan B Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,857,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,838,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$462 million Senior Secured Credit Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">432,821</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">249,542</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$500 million Senior Unsecured Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">229,411</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">130,974</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$800 million Senior Secured Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">607,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">459,723</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less: Deferred financing costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(82,506</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(61,466</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total debt</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,328,468</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,887,773</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Less: Current portion</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(56,725</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(640,557</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Long-term portion</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>4,271,743</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3,247,216</b></font></div></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>7.25% Senior Unsecured Notes due 2019</u></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 26, 2014 the Company issued $500,000 aggregate principal amount of 7.25% Senior Unsecured Notes due 2019 (the "$500 million Senior Unsecured Notes"), offered in a private placement, resulting in net proceeds of approximately $493,625. The Senior Notes are unsecured obligations and rank senior in right of payment to any future subordinated indebtedness and equally in right of payment to all of its existing and future unsecured senior indebtedness. The Company used the net proceeds from the offering of the 7.25% Senior Unsecured Notes, together with cash on hand, and repurchased $462,300 of its 9.5% Senior Unsecured Notes, of which $500,000 in aggregate principal amount was outstanding prior to closing of the 7.25% Senior Unsecured Notes Offering, at a tender premium of 105.375%, while the remaining $37,700 was redeemed at a redemption price of 104.5% on May 13, 2014.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The 7.25% Senior Unsecured Notes are not guaranteed by any of the Company's subsidiaries. Upon a change of control, which would occur if 50% or more of the Company's shares are acquired by any person or group other than DryShips or its affiliates, the noteholders will have an option to require the Company to purchase all outstanding notes at a redemption price of 101% of the principal amount thereof plus accrued and unpaid interest to the date of purchase. The contractual semi-annual coupon interest rate is 7.25% per year.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the years ended December 31, 2015 and 2016, one of the Company's wholly owned subsidiary, has purchased in the open market an aggregate principal amount of $270,589 and $98,437 of these notes, respectively, and the outstanding balance reported above, of $229,411 and $130,974 respectively, is net of the notes repurchased. Effective March 21, 2017, the Notes held by the Company's wholly owned subsidiaries have been cancelled.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the years ended December 31, 2015 and 2016, the purchase of the notes, resulted in a gain of $130,454 and $57,160 respectively, and is included in "Gain from repurchase of senior notes" in the accompanying consolidated statement of operations.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>6.50% Senior Secured Notes due 2017</u></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On September 20, 2012, the Company's wholly owned subsidiary Drill Rigs Holdings Inc. (the "Issuer"), issued $800,000 aggregate principal amount of 6.50% Senior Secured Notes due 2017 (the "$800 million Senior Secured Notes") offered in a private offering. The Drill Rigs Senior Notes are secured obligations and rank senior in right of payment to any future subordinated indebtedness and equally in right of payment to all of its existing and future unsecured senior indebtedness.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Drill Rigs Senior Notes are fully and unconditionally guaranteed by the Company and certain of its existing and future subsidiaries of the Issuer and are secured by certain assets of, and by a pledge of the stock of, the Issuer and the subsidiaries of the Issuer. The contractual semi-annual coupon interest rate is 6.5% on the Drill Rigs Senior Notes. On or after October 1, 2015, the Issuer may, at its option, redeem all or a portion of the Drill Rigs Senior Notes at the time or from time to time at 103.25% (from October 1, 2015 to September 30, 2016) or 100% (October 1, 2016 and thereafter) of the principal amount thereof, plus any accrued and unpaid interest thereof to the date of the redemption.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Upon a change of control, which occurs if 50% or more of the Company's shares are acquired by any person or group other than DryShips or its affiliates, the Issuer will be required to make an offer to repurchase the Drill Rigs Senior Notes at a price equal to 101% of the principal amount thereof, plus any accrued and unpaid interest thereon to the date of repurchase.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the years ended December 31, 2015 and 2016, two of the Company's wholly owned subsidiaries purchased in the open market an aggregate principal amount of $192,258 and $148,019 of these notes, respectively and the outstanding balance reported above, of $607,742 and $459,723 respectively, is net of the notes repurchased. Effective March 21, 2017, the Notes held by the Company's wholly owned subsidiaries have been cancelled. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the years ended December 31, 2015 and 2016, the purchase of the notes resulted in a gain of $58,720 and $67,841, respectively, and is included in “Gain from repurchase of senior notes” in the accompanying consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>$1.3 billion Senior Secured Term Loan B Facility</u></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July 25, 2014, the Company's wholly owned subsidiary, Drillships Ocean Ventures Inc., entered into a $1.3 billion Senior Secured Term Loan B facility to repay the $1.35 billion Senior Secured Credit Facility, which had an outstanding loan balance of approximately $1.3 billion on that date. The New Term Loan B facility which is secured primarily by first priority mortgages on the vessels, the <i>Ocean Rig Mylos</i>, the <i>Ocean Rig</i> <i>Skyros</i> and the <i>Ocean Rig</i> <i>Athena</i>, bears interest at a fixed rate, and matures on July 25, 2021.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>$1.9 billion Term Loan B Facility</u></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July 12, 2013,  the Company, through its wholly-owned subsidiaries, Drillships Financing Holding Inc. ("DFHI") and Drillships Projects Inc., entered into a $1,800,000 senior secured term loan facility, comprised of tranche B-1 term loans in an aggregate principal amount equal to $975,000 ("Tranche B-1 Term Loans") and tranche B-2 term loans in an aggregate principal amount equal to $825,000 ("Tranche B-2 Term Loans" and, together with the “Tranche B-1 Term Loans”, the "$1.9 billion Term Loan B Facility"), with respective maturity dates in the first quarter of 2021, subject to adjustment to the third quarter of 2020 in certain circumstances, and the third quarter of 2016. The Term Loans are initially guaranteed by the Company and certain existing and future subsidiaries of DFHI and are secured by certain assets of, and by a pledge of the stock of, DFHI and the subsidiary guarantors. On July 26, 2013, the Company through its wholly-owned subsidiaries DFHI and Drillships Projects Inc. entered into an incremental amendment to the $1,800,000 senior term loan for additional tranche B-1 term loans in an aggregate principal amount of $100,000.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On February 7, 2014, the Company refinanced its then existing short-term Tranche B-2 Term Loans with a fungible add-on to its existing long-term Tranche B-1 Term Loans.  As a result of this refinancing, the total $1.9 billion of Tranche B-1 Term Loans will mature no earlier than the third quarter of 2020.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>$462 million Senior Secured Credit Facility</u></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On February 13, 2015, the Company's wholly owned subsidiary, Drillship Alonissos Shareholders Inc., entered into a secured term loan facility agreement with a syndicate of lenders and DNB Bank ASA, as facility agent and security agent, for up to $475,000 to partially finance the construction costs of the <i>Ocean Rig Apollo</i>. This facility has a 5 year term and bears interest at LIBOR plus a margin. On March 3, 2015, the Company drew down an amount of $462,000 under this facility and pledged restricted cash of $15,000, as of June 30, 2016, associated with the respective loan. On February 11, 2016, the client of the <i>Ocean Rig Apollo</i> sent to the Company a notice of termination. Under the $462,000 Senior Secured Credit Facility, the Company was required to find a new Satisfactory Drilling Contract (as defined in the loan agreement) by May 21, 2016. The Company did not secure a new drilling contract for the <i>Ocean Rig Apollo</i> and, therefore, was required to make a mandatory prepayment of approximately $145,894 on August 22, 2016.</font></div>
<div style="text-align:justify;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On August 31, 2016, the Company's wholly owned subsidiary, Drillship Alonissos Shareholders Inc., entered into an amendment to the term loan facility agreement in consideration for the lenders agreeing: (i) to reduce the amount of the mandatory prepayment from $145,894 to $125,000;(ii) to release the Company as Guarantor and from all obligations, actual or contingent, joint or several, now or at any time outstanding; (iii) to waive any existing breaches and, (iv) the cold-stacking of the drilling unit. Furthermore, a trust was formed, namely "Drillship Alonissos Stock Trust" (the “Trust”), in which the Company has transferred the shares of Drillship Alonissos Shareholders Inc. together with the shares of Drillship Alonissos Owners Inc., previously held by Drillship Alonissos Shareholders Inc. Additionally, the repayment schedule of the loan was altered to include a cash sweep term authorizing the lenders to transfer any excess cash flow on a monthly basis, as a prepayment pro rata across the loan, therefore, leading to the full repayment of the loan by June 2018, whereas according to the initial repayment schedule it would have been fully repaid by June 2020. Following the repayment, the Trust, will be dissolved and shares will be returned to their initial holders.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company's outstanding debt is secured by, among other things, first priority mortgages over the Company's operating drilling units, corporate guarantees, first priority assignments of all freights, earnings, insurances and requisition compensation relating to such drilling units and a pledge of the shares of capital stock of certain of the Company's subsidiaries.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Certain of our debt instruments contain financial covenants, minimum coverage ratio requirements and minimum liquidity and restrict, without the lender's prior consent, the Company's and its subsidiaries ability to, among other things, pay dividends, change the management and ownership of its drilling units, incur additional indebtedness, incur and create liens on its assets, change in the general nature of the Company's business and require that the Company maintain an established place of business in the United States or the United Kingdom.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Total interest and debt amortization cost incurred on long-term debt for the years ended December 31, 2014, 2015 and 2016, amounted to $304,132, $300,543 and $256,222, respectively, of which $37,342, $26,055 and $28,265, respectively, were capitalized as part of the cost of the drilling units under construction. Total interest incurred and amortization of debt issuance cost on long-term debt, net of capitalized interest, are included in "Interest and finance costs" in the accompanying consolidated statement of operations.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company's weighted average interest rates on the above bank loans and notes were 6.4%, 6.3% and 6.2%, as of December 31, 2014, 2015, and 2016, respectively.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The bank loans are payable in U.S. Dollars in quarterly and monthly instalments with balloon payments due at maturity between June 2018 to July 2021.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Loan movements for the Company's Senior Unsecured Notes and secured credit facilities throughout 2017, is as follows:</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
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<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:153px;height:32px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Loan</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">December 31,</font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2015</font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Repayments/ Repurchase of senior notes</font></div></td>
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<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">December 31,</font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2016</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:center;margin-left: 10.9px;text-indent:0.0px;"> </div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$800 million Senior Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">September 20, 2012</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">800,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">607,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(148,019</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">459,723</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$1.9 billion Secured Term Loan B Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#ffffff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">July 12, 2013</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,900,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,857,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(19,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,838,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$500 million Senior Unsecured</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">March 26, 2014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">500,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">229,411</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(98,437</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">130,974</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$1.3 billion Senior Secured </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Term Loan B</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#ffffff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">July 25, 2014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,300,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,283,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(13,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,270,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:22px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$462 million Senior Secured    Credit Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">February 13, 2015</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">462,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">432,821</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(183,279</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">249,542</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:22px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:center;margin-left: 10.9px;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$ </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>4,410,974</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(461,735</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,949,239</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:1px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td style="width:153px;"></td>
<td style="width:1px;"></td>
<td style="width:111px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
<td style="width:1px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The annual principal payments required to be made after December 31, 2016, including balloon payments, totaling $3,949,239 due through July 2021, are as follows:</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2017</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">658,063</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2018</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">115,202</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2019</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">162,974</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2020</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,794,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2021 </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,218,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>       Total principal payments</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,949,239</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Less: Financing fees</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(61,466</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>       Total debt</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,887,773</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
</table>
<div align="center"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:center;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000;"> </font></div>
<div style="text-align:center;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>8. Other non-current assets</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amount of other non-current assets shown in the accompanying consolidated balance sheets is analyzed as follows:</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deferred mobilization expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">23,992</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5,564</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Intangible assets, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,289</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,845</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Prepaid investments</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,579</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">425</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>36,860</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7,834</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7.  Drilling units, machinery and equipment, net:</b></font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:139px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Cost</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:114px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Accumulated</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Depreciation</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Net Book Value</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>7,331,372</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(1,123,739</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>6,207,633</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Additions/ Transfer from drilling units under construction</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">909,830</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">909,830</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Disposal of assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(5,477</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(5,477</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Impairment loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(976,730</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">561,744</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(414,986</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Depreciation</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:133px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:108px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(360,108</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(360,108</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:10px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>7,258,995</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(922,103</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>6,336,892</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Additions</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">99,515</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">99,515</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Disposal of assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(7,756</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">133</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(7,623</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Impairment loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,658,815</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,658,815</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:321px;height:13px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Depreciation</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:67px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(331,677</font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:4px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(331,677</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,691,939</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(1, 253,647)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2,438,292</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td style="width:305px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:10px;"></td>
<td style="width:8px;"></td>
<td style="width:9px;"></td>
<td style="width:86px;"></td>
<td style="width:8px;"></td>
<td style="width:10px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:60px;"></td>
<td style="width:47px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:59px;"></td>
<td style="width:4px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">For the years ended December 31, 2015 and 2016, as a result of the impairment review, the Company determined that the carrying amount of two and eight drilling units, respectively, were not recoverable and, therefore, a charge of $414,986 and $3,658,815, respectively was recognized and included in the "Impairment loss", in the accompanying consolidated statements of operations in order to write down those drilling units to their fair value. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 28, 2016, the Company acquired the sixth generation ultra-deepwater drilling unit <i>Cerrado</i>, which was sold through an auction, for a purchase price of $65,000. The drilling unit was built in 2011 to similar design specifications to the Company's existing sixth generation drilling units and was renamed as <i>Ocean Rig Paros</i>.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2016, all of the Company's operating drilling units, apart from the <i>Ocean Rig Paros</i> have been pledged as collateral to secure the Company's 6.50% Senior Secured Notes due 2017, the $462,000 Senior Secured Credit Facility and the Term Loan B facilities discussed in Note 9.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>6. Advances for drilling units under construction and related costs:</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts shown in the accompanying consolidated balance sheets include milestone payments under the drilling unit building contracts with the shipyards, supervision costs and any material related expenses incurred during the construction periods, all of which are capitalized in accordance with the accounting policy discussed in Note 2.  For the years ended December 31, 2015 and 2016, the movement of the advances for drilling units under construction and related costs was as follows:</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance at beginning of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>622,507</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>394,852</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Advances for drilling units under construction and related costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">500,031</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">242,988</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Drilling units delivered</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(727,686</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Impairment loss (advances and related costs for drilling unit under construction)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(92,371</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance at end of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>394,852</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>545,469</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2016, the Company has advanced $309,358, $156,900 and $76,600 to the yard for the construction of the <i>Ocean Rig Santorini,</i> the <i>Ocean Rig Crete </i>and<i> </i>the <i>Ocean Rig Amorgos respectively. </i>On August 11, 2016, the Company entered into agreements with the yard to amend certain terms relating to contracts for the construction of its three seventh generation drilling units (the </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Ocean Rig Santorini</i>, the <i>Ocean Rig Crete</i> and the <i>Ocean Rig Amorgos</i>) which were previously scheduled for delivery in 2017, 2018 and 2019, respectively</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">. As part of the agreements, the deliveries of the <i>Ocean Rig Santorini</i> and the <i>Ocean Rig Crete</i> were postponed to June 2018 and January 2019, respectively, certain installments were rescheduled and the total construction costs were increased to $694,790 and $709,565, respectively. With respect to the </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Ocean Rig Amorgos,</i> the Company agreed to suspend its construction with an option, subject to the Company's option, to bring it back into force within a period of 18 months after the date of the addendum. Further to that, as of December 31, 2016, the Company impaired the total advances and related costs provided to the yard for the <i>Ocean Rig Amorgos</i>.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>5. Other Current Assets</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amount of other current assets shown in the accompanying consolidated balance sheets is analyzed as follows:</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Inventories</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18,088</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12,988</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deferred mobilization expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">43,825</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,351</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Prepayments and advances</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">20,607</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,500</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,013</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">85</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> <b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>84,533</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>29,924</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-left: 240.0px;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"> </font></div>
<div style="margin-left: 240.0px;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>4. Transactions with Related Parties:</b></font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts included in the accompanying consolidated balance sheets and consolidated statements of operations are as follows:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:143px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance Sheet</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:65px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Due to related parties</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>7,231</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Advances for drilling units under construction and related costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">394</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,569</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Drilling units, machinery and equipment, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,961</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">488</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accrued liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6,432</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,100</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:7px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Statement of Operations</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Revenues - commission fees</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">16,826</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">16,524</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">14,925</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Drilling units operating expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">4,209</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Amortization and write-off of financing fees - DryShips</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,781</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">General and administrative expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> 32,660</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> 7,409</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">24,924</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest income</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,164</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cardiff Drilling Inc.:</b> Effective January 1, 2013, Ocean Rig Management Inc. ("Ocean Rig Management"), a wholly-owned subsidiary of Ocean Rig entered into a Global Services Agreement with Cardiff Drilling Inc. ("Cardiff Drilling")  a company controlled by the Chairman and Chief Executive Officer of the Company, Mr. George Economou, pursuant to which Ocean Rig Management engaged Cardiff Drilling to act as consultant on matters of chartering and sale and purchase transactions for the offshore drilling units operated by the Company. Under the Global Services Agreement, Cardiff Drilling, or its subcontractor, (i) provided consulting services related to the identification, sourcing, negotiation and arrangement of new employment for offshore assets of the Company and its subsidiaries; and (ii) identified, sourced, negotiated and arranged the sale or purchase of the offshore assets of the Company and its subsidiaries. In consideration of such services, the Company paid Cardiff Drilling a fee of 1.0% in connection with employment arrangements and 0.75% in connection with sale and purchase activities. Costs from the Global Services Agreement were expensed in the consolidated statement of operations or capitalized as a component of "Advances for drilling units under construction and related costs" being a directly attributable cost to the construction, as applicable. The consultancy agreement had a term of five years and could be terminated (i) at the end of its term unless extended by mutual agreement of the parties; and, (ii) at any time by the mutual agreement of the parties. As of March 31, 2016, the Company terminated the agreement with Cardiff Drilling, at no cost.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vivid Finance Limited: </b>Under the consultancy agreement effective from January 1, 2013, between Ocean Rig Management and Vivid Finance Limited ("Vivid"), a company controlled by the Chairman and Chief Executive Officer of the Company, Mr. George Economou, pursuant to which Vivid acted as a consultant on financing matters for Ocean Rig and its subsidiaries, Vivid provided the Company with financing-related services such as (i) negotiating and arranging new loan and credit facilities, interest rate swap agreements, foreign currency contracts and forward exchange contracts, (ii) renegotiating existing loan facilities and other debt instruments and, (iii) the raising of equity or debt in the capital markets. In exchange for its services in respect of the Company, Vivid was entitled to a fee equal to 0.20% on the total transaction amount. The consultancy agreement had a term of five years and could be terminated (i) at the end of its term unless extended by mutual agreement of the parties; and, (ii) at any time by the mutual agreement of the parties. On July 29, 2015, the Company amended its agreement with Vivid to expand the scope of the services provided under the agreement to the Company and its subsidiaries or affiliates, to cover certain cash management and cash investment services.  In exchange for its services in respect of the Company, Vivid was entitled to a fee equal to 30% of any profits provided the profits are at least 10% of the invested amount. As of March 31, 2016, the Company terminated the agreement with Vivid, at no cost.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Basset Holdings Inc</b>.: Effective June 1, 2012, the Company entered through one of its' wholly owned subsidiaries into a consultancy agreement with Basset Holdings Inc. ("Basset"), a Marshall Islands entity beneficially owned by the Company's President and Chief Financial Officer Mr. Anthony Kandylidis, for the provision of his services to the Company. The agreement had an initial term of five years and could be renewed or extended for one-year successive terms with the consent of both parties. Under the terms of the agreement, the Company was obligated to pay an annual remuneration to Basset. Basset was also entitled to cash or equity-based bonuses to be awarded at the Company's sole discretion. The Company could terminate the agreement for cause, as defined in the agreement, in which case Basset would not be entitled to further payments of any kind. Upon termination of the agreement without cause, or in the event the agreement was terminated within three months of a change of control, as defined in the agreement, the Company would be obligated to pay a lump sum amount. Basset could terminate the agreement without cause upon three months written notice. In addition, Basset may terminate the agreement for good reason and in such event, the Company would be obligated to pay a lump sum amount. With effect as of December 31, 2016, the Company terminated the agreement with Basset at no cost. Basset is also the owner of 114,286 shares of the Company's common stock, as of December 31, 2016.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Steel Wheel Investments Limited: </b>Steel Wheel Investments Limited ("Steel Wheel"), a company controlled by the Company's President and Chief Financial Officer, Mr. Anthony Kandylidis, is the owner of 1,570,226 shares of the Company's common stock, as of December 31, 2016.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>George Economou:</b> As of June 8, 2015, Mr. George Economou, the Company's Chairman and Chief Executive Officer, purchased $10,000, or 1,428,571 shares, of common stock in the offering of 28,571,428 shares of the Company's common stock at the public offering price (Note 11). As of December 31, 2016, Mr. George Economou has a 9.0% shareholding of the Company.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Azara Services S.A.:</b> Effective January 1, 2013, the Company entered through one of its' wholly owned subsidiaries into a consultancy agreement with Azara Services S.A. ("Azara"), a Marshall Islands entity beneficially owned by the Company's Chairman and Chief Executive Officer, Mr. George Economou, for the  provision of the services of the Company's Chief Executive Officer. The agreement had an initial term of five years and could be renewed or extended with the consent of both parties. Under the terms of the agreement, the Company was obligated to pay an annual remuneration to Azara.  Azara was also entitled to cash or equity-based bonuses to be awarded at the Company's sole discretion. The Company could terminate the agreement for cause, as defined in the agreement, in which case Azara would not be entitled to further payments of any kind. Upon termination of the agreement without cause, or in the event the agreement was terminated within three months of a change of control, as defined in the agreement, the Company would be obligated to pay a lump sum amount. Azara could terminate the agreement without cause upon three months written notice. In addition, Azara could terminate the agreement for good reason and in such event the Company would be obligated to pay a lump sum amount. With effect as of December 31, 2016, the Company terminated the agreement with Azara at no cost.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>DryShips Inc.:</b> On November 18, 2014, the Company entered into a $120,000 Exchangeable Promissory Note with its former parent company, DryShips. The loan from the Company to DryShips bore interest at a LIBOR plus margin rate and was due in May 2016. On June 4, 2015, the Company and DryShips signed an amendment under the $120,000 Exchangeable Promissory Note to, among other things, partially exchange $40,000 of the loan for 4,444,444 of the Company's shares owned by DryShips, amend the interest of the loan and pledged to the Company 20,555,556 shares of the Company's stock owned by DryShips. On August 13, 2015, the Company reached an agreement with DryShips and exchanged the remaining outstanding balance of $80,000 owed to the Company under the $120,000 Exchangeable Promissory Note, for 17,777,778 shares of the Company's shares owned by DryShips. During the year ended December 31, 2015, the Company earned interest income amounting to $8,805 from DryShips under this loan agreement. During the year ended December 31, 2015, the Company paid dividends of $50,281 of which, $29,755 were paid to DryShips.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 29, 2016, the Company entered into 60 day time charter agreements for the offshore support vessels <i>Crescendo </i>and <i>Jubilee </i>with two subsidiaries of DryShips to assist with the stacking of the Company's drilling units in Las Palmas.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 5, 2016, the Company's unrestricted subsidiary, Ocean Rig Investments Inc., purchased 56,079,533 shares of the Company's common stock previously held by DryShips. After this transaction, DryShips no longer holds any equity interest in the Company (Note 11).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>TMS Tankers Ltd. /TMS Offshore Services Ltd.:</b> During 2016 TMS Tankers Ltd., and TMS Offshore Services Ltd., entities beneficially owned by the Company's Chairman and Chief Executive Officer, Mr. George Economou, charged the Company for various ad-hoc ancillary services.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>TMS Offshore Services Ltd.:</b> On March 31, 2016, the Company signed a management services agreement with TMS Offshore Services Ltd. (''TMS"), a company affiliated with the Company's Chairman and Chief Executive Officer, Mr. George Economou, to provide certain management services related to the Company's drilling units including but not limited to commercial, financing, legal and insurance services, which is effective from January 1, 2016. Under the terms of this agreement, TMS will be compensated with a one-time set up fee of $2,000, a fixed monthly fee of $835 as well as certain variable fees including 1.00% on monies earned under drilling contracts, 0.75% on sale and purchase or M&A transactions and 0.20% on all financing transactions. Furthermore, the Company will reimburse TMS for all out-of-pocket expenses and travel expenses. The Company may terminate the agreement for convenience for a fee of $150,000. This agreement supersedes the previous agreements with Vivid and Cardiff Drilling, which were cancelled at no cost to the Company. On March 31, 2016 and effective from January 1, 2017, the Company and TMS agreed to alter, among some other terms of the agreement, the existing monthly fee from $835 to $1,291.7, provision of services by the Company's Chairman and Chief Executive Officer and President and Chief Financial Officer and the annual reduction of the termination fee by $15,000 per annum starting from 2018 which at any given time may not be lower than $30,000, a performance fee of up to $10 million per annum to be provided in stock or cash and the increase in the variable fee to 0.50% on all financing transactions.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3. Liquidity and Going Concern considerations</b></font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2016, the Company was in compliance with covenants contained in the $1.9 billion Secured Term Loan B Facility and $1.3 billion Senior Secured Term Loan B Facility  (the “Secured Term Loan B Facilities”), with an aggregate outstanding balance of $3.1 billion. In addition, at December 31, 2016, the Company had cash and cash equivalents of $718,684, current and non-current restricted cash of $54,282 and a working capital surplus of $267,930 (working capital is defined as current assets minus current liabilities, including the current portion of long-term debt). The Company's liquidity fluctuates depending on a number of factors, including, among others, revenue efficiency, collection of accounts receivable, debt and interest repayments, as well as payments for operating and general administrative expenses. </font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During October 2017 and as discussed in Note 9, the 6.50% Senior Secured Notes (the "Drill Rigs Senior Notes") are due and payable, with an outstanding balance, net of the notes repurchased in the open market amounting to $459,723, as of December 31, 2016. </font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, the Company expects that during the fourth quarter of 2017, it will be in breach of the maximum leverage ratio covenant requirement for the Secured Term Loan B Facilities and will require additional cash liquidity in order to cure the covenant and remain in compliance, otherwise the Secured Term Loan B Facilities will be callable and payable in full. </font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The prolonged market downturn in the offshore drilling industry and the continued depressed outlook, have led to materially lower levels of investing in for offshore exploration and development by the current and potential customers on a global basis, while at the same time supply of available high specification drilling units has increased, which in turn has affected the Company with the early termination of five drilling contracts during the year ended December 31, 2016 and also led to the stacking of six drilling units of the Company's fleet as of the date of this report. </font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Considering all the above, the Company does not believe that cash on hand, following the repayment of $459,723 in relation to Drill Rigs Senior Notes and cash generated from operations, will be sufficient to meet the maximum leverage ratio covenant requirement for the Secured Term Loan B Facilities. In addition, the current market conditions will not allow the Company to improve its liquidity position through the sale of any of its drilling units, access to equity offerings, debt refinancing or a combination thereof, over the next year following the date of the issuance of these financial statements. </font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company, together with its financial and legal advisors and key stakeholders, is currently considering and evaluating various alternatives, including a restructuring plan to address liquidity and a comprehensive balance sheet deleveraging to be sustainable in the longer term. </font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">If such strategic alternatives do not result in completion of the restructuring with a consensual solution among all stakeholders, the Company may be forced to seek reorganization under a scheme of arrangement in the Cayman Islands, the U.S. Bankruptcy Code or pursue other restructuring options. As there can be no assurance that a successful restructuring plan will be concluded, there exists substantial doubt about the Company's ability to continue as a going concern over the twelve months following the date of the issuance of these consolidated financial statements.</font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The consolidated financial statements have been prepared assuming that the Company will continue as a going concern. Accordingly, the consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, the amounts and classification of liabilities, or any other adjustments that might result in the event the Company is unable to continue as a going concern.</font></div>
<div style="text-align:justify;margin-top:13.0px;margin-bottom:5.0px;text-indent:0.0px;"></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1. Basis of Presentation and General Information:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The accompanying consolidated financial statements include the accounts of Ocean Rig UDW Inc., its subsidiaries and consolidated Variable Interest Entities ("VIEs") (collectively, the "Company," "Ocean Rig" or the "Group"). Ocean Rig was formed on December 10, 2007, under the laws of the Republic of the Marshall Islands under the name Primelead Shareholders Inc. as an international contractor of offshore deepwater drilling services. The Company was established by DryShips Inc. ("DryShips" or formerly the "Parent") for the purpose of being the holding company of its drilling segment. DryShips is a publicly listed company on the NASDAQ Capital Market (NASDAQGS: DRYS). On November 24, 2010 and up to December 31, 2016, Ocean Rig UDW had an established office and was registered with the Cypriot Registrar of Companies as an overseas company. On October 6, 2011, the Company's common shares commenced "regular way" trading on the NASDAQ Global Select Market under the ticker symbol "ORIG." As of April 14, 2016, the corporate domicile of the Company moved from the Republic of the Marshall Islands to the Cayman Islands.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 5, 2016, the Company purchased all of its shares held by DryShips, through its unrestricted subsidiary, Ocean Rig Investments Inc. (Note 11). After this transaction, DryShips no longer holds any equity interest in the Company.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On September 11, 2015, the Company entered into an agreement to provide third party technical management services for the offshore drilling unit <i>Cerrado</i>. On April 28, 2016, the Company acquired the drilling unit <i>Cerrado</i> which was renamed to <i>Ocean Rig Paros</i> (Note 7).</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company's customers are mainly oil and gas exploration and production companies, including major integrated oil companies, independent oil and gas producers and government-owned oil and gas companies. Customers individually accounting for more than 10% of the Company's revenues during the years ended December 31, 2014, 2015 and 2016, were as follows:</font></div>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:218px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer A</font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">11</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer B</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">19</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">20</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer C</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">13</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer D</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">30</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">15</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer E</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">13</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer F</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">15</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> %</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td style="width:412px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:56px;"></td>
<td style="width:11px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:56px;"></td>
<td style="width:14px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:56px;"></td>
<td style="width:11px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The loss of any of these significant customers could have a material adverse effect on the Company's results of operations if they were not replaced by other customers.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="10" style=" border:solid #000000 0.0px;width:221px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>For the year ended December 31,</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:68px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> Net income/(loss) </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>259,803</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>80,014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(3,241,518)</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other Comprehensive income / (loss):</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification of realized losses associated with capitalized interest to Consolidated Statement of Operations</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,034</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,035</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">26,187</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Actuarial gains/(losses)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">62</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other Comprehensive income / (loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(484)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,097</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>26,187</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:413px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Comprehensive income /(loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>259,319</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>81,111</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(3,215,331)</b></font></div></td>
</tr>
<tr>
<td style="width:413px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:62px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="10" style=" border:solid #000000 0.0px;width:230px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>For the year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>EXPENSES:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">General and administrative expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,983</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,924</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">17,995</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Operating loss</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(7,983</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(6,924</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(17,995</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>OTHER INCOME / (EXPENSES):</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest and finance costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(82,109</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(65,988</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(37,905</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest income</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,383</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,224</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5,041</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">177</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total other (expenses), net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(74,502</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(60,947</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(37,728</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Equity/(loss) in earnings of subsidiaries*</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">342,288</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">147,885</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,185,795</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net income/(loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">259,803</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">80,014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,241,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Net Income/(loss) To Common Stockholders</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">259,031</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">78,839</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,241,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Earnings/(loss) per common share, basic and diluted</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.96</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">0.57</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(33.43</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:410px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted average number of shares, basic and diluted</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">131,837,227</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:67px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">138,757,176</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">96,950,847</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:2px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:410px;"></td>
<td style="width:3px;"></td>
<td style="width:6px;"></td>
<td style="width:67px;"></td>
<td style="width:4px;"></td>
<td style="width:1px;"></td>
<td style="width:6px;"></td>
<td style="width:67px;"></td>
<td style="width:2px;"></td>
<td style="width:6px;"></td>
<td style="width:3px;"></td>
<td style="width:62px;"></td>
<td style="width:2px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">* Eliminated in consolidation</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:144px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:69px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:69px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Cash and cash equivalents</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">26</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other current assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">182</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">194</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total current assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>217</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>220</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>NON-CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Investments in subsidiaries*</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,781,705</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">143,381</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total non-current assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3,781,705</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>143,381</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,781,922</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">143,601</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>LIABILITIES AND STOCKHOLDERS' EQUITY</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>CURRENT LIABILITIES:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,913</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,007</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9,913</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3,007</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>NON-CURRENT LIABILITIES</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt, net of current portion</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">497,244</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">129,844</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total non-current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>497,244</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>129,844</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>STOCKHOLDERS' EQUITY:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Preferred stock, $0.01 par value; 500,000,000 shares authorized at December 31, 2015 and 2016,  nil issued and outstanding at December 31, 2015 and 2016, respectively</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Common stock, $0.01par value; 1,000,000,000 shares authorized, at December 31, 2015 and 2016, 160,888,606 issued and outstanding at December 31, 2015 and 2016, respectively </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,609</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,609</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Treasury stock ; 22,222,222 shares at December 31, 2015 and $0.01 par value; 78,301,755 shares at December 31, 2016 </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(222</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(783</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Additional paid-in capital</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,572,549</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,524,426</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated other comprehensive loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(22,841</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,346</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated deficit</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(276,330</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,517,848</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total stockholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,274,765</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total liabilities and stockholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,781,922</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">143,601</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:490px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:62px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:490px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:62px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">*      Eliminated in consolidation</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(w) Stock-based compensation: </b></i>Stock-based compensation represents vested and non-vested common stock granted to certain employees for their services. The Company calculates total compensation expense for the award based on its fair value on the grant date and amortizes the total compensation on an accelerated basis over the vesting period of the award or service period (Note 11).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(v) Commitments and contingencies:</b></i> Provisions are recognized when: the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable estimate of the amount of the obligation can be made. Provisions are reviewed at each balance sheet date.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(u) Income taxes:</b></i><b> </b>Income taxes have been provided for based upon the tax laws and rates in effect in the countries in which the Company's operations are conducted and income is earned. There is no expected relationship between the provision for/or benefit from income taxes and income or loss before income taxes because the countries in which the Company operates have taxation regimes that vary not only with respect to the nominal rate, but also in terms of the availability of deductions, credits and other benefits. Variations also arise because income earned and taxed in any particular country or countries may fluctuate from year to year. Deferred tax assets and liabilities are recognized for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of the Company's assets and liabilities using the applicable jurisdictional tax rates in effect at the year in which the asset is realized or the liability settled. A valuation allowance for deferred tax assets is recorded when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. The Company accrues interest and penalties related to its liabilities for unrecognized tax benefits as a component of income tax expense.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(t) Fair value measurements: </b></i>The Company follows the provisions of ASC 820, "Fair Value Measurements and Disclosures" which defines and provides guidance as to the measurement of fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entities own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 10).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(s) Financial instruments</b></i><b>: </b>The Company designates its derivatives based upon guidance of ASC 815, "Derivatives and Hedging" which establishes accounting and reporting requirements for derivative instruments, including certain derivative instruments embedded in other contracts and for hedging activities. The guidance on accounting for certain derivative instruments and certain hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability measured at its fair value, with changes in fair value recognized in earnings unless specific hedge accounting criteria are met.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i)</font><font style="font-family:Times New Roman;font-size:6.7px;color:#000000; ">            </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Hedge accounting:</b> At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company is party to interest swap agreements where it receives a floating interest rate and pays a fixed interest rate for a certain period. Contracts which meet the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The effective portion of the gain or loss on the hedging instrument is recognized directly as a component of "Accumulated other comprehensive income/ (loss)" in equity, while any ineffective portion, if any, is recognized immediately in current period earnings.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in the consolidated statement of operations. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to net profit or loss for the year as financial income or expense.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii)</font><font style="font-family:Times New Roman;font-size:6.7px;color:#000000; ">            </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other derivatives:</b> Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in current period earnings.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(r) Segment reporting: </b></i>The Company has determined that it operates in one reportable segment, the offshore drilling operations.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(q) Earnings / (loss) per common share:</b></i> Basic earnings / (loss) per common share are computed by dividing net income/ (loss) available to common stockholders by the weighted average number of common shares outstanding during the year. Diluted earnings per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised. Dilution has been computed by the treasury stock method whereby all of the Company's dilutive securities are assumed to be exercised or converted and the proceeds used to repurchase common shares at the weighted average market price of the Company's common stock during the relevant periods. The incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) are included in the denominator of the diluted earnings / (loss) per share computation.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(p) Revenue and related expenses:</b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Revenues: </b>  The Company's services and deliverables are generally sold based upon contracts with customers that include fixed or determinable prices.  The Company recognizes revenue when delivery occurs, as directed by its customer, and collectability is reasonably assured. The Company evaluates if there are multiple deliverables within its contracts and whether the agreement conveys the right to use the drilling units for a stated period of time and meets the criteria for lease accounting, in addition to providing a drilling services element, which is generally compensated for by day rates. In connection with drilling contracts, the Company may also receive revenues for preparation and mobilization of equipment and personnel or for capital improvements to the drilling units and day rate or fixed price mobilization and demobilization fees. Revenues are recorded net of agents' commissions. There are two types of drilling contracts: well contracts and term contracts. </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(i) Well contracts: </b>Well contracts are contracts under which the assignment is to drill a certain number of wells. Revenue from day-rate based compensation for drilling operations is recognized in the period during which the services are rendered at the rates established in the contracts. All mobilization revenues, direct incremental expenses of mobilization and contributions from customers for capital improvements are initially deferred and recognized as revenues and expenses, as applicable, over the estimated duration of the drilling period. To the extent that expenses exceed revenue to be recognized, they are expensed as incurred. Demobilization revenues and expenses are recognized over the demobilization period. All revenues for well contracts are recognized as "Service revenues" in the consolidated statement of operations.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(ii) Term contracts: </b>Term contracts are contracts under which the assignment is to operate the unit for a specified period of time. For these types of contracts the Company determines whether the arrangement is a multiple element arrangement containing both a lease element and drilling services element. For revenues derived from contracts that contain a lease, the lease elements are recognized as "Leasing revenues" in the consolidated statement of operations on a basis approximating straight line over the lease period. The drilling services element is recognized as "Service revenues" in the period in which the services are rendered at estimated fair value. Revenues related to the drilling element of mobilization and direct incremental expenses of drilling services are deferred and recognized over the estimated duration of the drilling period. To the extent that expenses exceed revenue to be recognized, they are expensed as incurred. Demobilization fees and expenses are recognized over the demobilization period. Contributions from customers for capital improvements are initially deferred and recognized as revenues over the estimated duration of the drilling contract.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Other revenues: </b> Other revenues represent the revenues derived from customer contract terminations. The Company recognizes revenues from contract terminations as it has fulfilled obligations for such terminations and when all contingencies have expired. </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(o) Deferred financing costs: </b></i>Deferred financing costs include fees, commissions and legal expenses associated with the Company's long- term debt. These costs are amortized over the life of the related debt using the effective interest method and are included in interest expense. Unamortized fees relating to loans repaid or refinanced as debt extinguishments are expensed as interest and finance costs in the period the repayment or extinguishment is made. Arrangement fees paid to lenders for loans which the Company has not drawn down are capitalized and included in other current and non-current assets. Amortization and write offs for each of the years ended December 31 2014, 2015 and 2016, amounted to $42,995, $24,033 and $21,040, respectively (Note 13).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(n) Class costs:</b></i><b> </b>The Company follows the direct expense method of accounting for periodic class costs incurred during special surveys of drilling units, normally every five years. Class costs and other maintenance costs are expensed in the period incurred and included in "Drilling units operating expenses."</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(m) Impairment of long-lived assets: </b></i>The Company reviews for impairment long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. To the extent impairment indicators are present; the Company assesses recoverability of the carrying value of the asset by estimating the undiscounted future net cash flows expected to result from the asset.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In developing estimates of future undiscounted cash flows, the Company makes assumptions and estimates about the drilling units future performance, with the significant assumptions being related to drilling rates, fleet utilization, operating expenses, capital expenditures, class survey costs,  residual value and the estimated remaining useful life of each drilling unit.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The projected net operating cash flows are determined by considering the drilling revenues from existing drilling contracts for the fixed days, while for the unfixed days the Company uses an estimated daily rate equivalent by utilizing available market data. The salvage value used in the impairment test is estimated using the Light Weight Tons (LWT) and the market scrap rate. The remaining significant assumptions used to develop estimates of future undiscounted cash flows are based on historical trends as well as future expectations. Although the Company believes that the assumptions used to evaluate potential impairment are reasonable and appropriate, such assumptions are highly subjective. If the Company's estimate of undiscounted future cash flows for any drilling unit is lower than the carrying value, the carrying value is written down, by recording a charge to operations, to the drilling units' fair market value if the fair market value is lower than the vessel's carrying value. The fair market value for the drilling unit is obtained by independent appraisals. </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As a result of the impairment review, the Company determined that the carrying amounts of its assets held for use were recoverable and therefore, concluded that no impairment loss was necessary for the year ended December 31, 2014. For the year ended December 31, 2015 and 2016, as a result of the impairment review, the Company determined that the carrying amount of two and eight drilling units were not recoverable and, therefore, a charge of $414,986 and $3,658,815, respectively, was recognized and is included in "Impairment loss", in the accompanying consolidated statement of operations (Note 7), the impairment of $92,371 for the drilling unit under construction <i>Ocean Rig Amorgos</i> (Note 6) and the impairment of $25,152 relating to the cashflow hedges for interest capitalized on vessels impaired (Note 12).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;line-height:0.95;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b><i><b>(l) Drilling units, machinery and equipment, net:</b></i><b> </b>Drilling units are stated at historical cost less accumulated depreciation. Such costs include the cost of adding or replacing parts of drilling unit machinery and equipment when the cost is incurred, if the recognition criteria are met. The recognition criteria require that the cost incurred extends the useful life of a drilling unit. The carrying amounts of those parts that are replaced are written off and the cost of the new parts is capitalized. Depreciation is calculated on a straight- line basis over the useful life of the assets after considering the estimated residual value as follows: bare deck 30 years and other asset parts from five to 30 years for the drilling units.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(k) Foreign currency translation: </b></i>The functional currency of the Company is the U.S. Dollar since the Company operates in international drilling markets and therefore, primarily transacts business in U.S. Dollars. The Company's accounting records are maintained in U.S. Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are translated into U.S. Dollars at the year-end exchange rates. Resulting gains or losses are included in "Other, net" in the accompanying consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(j) Insurance claims:</b></i> The Company records insurance claim recoveries for insured losses incurred on damages to fixed assets, loss of hire and for insured crew medical expenses under "Other current assets". Insurance claims are recorded, net of any deductible amounts, at the time the Company's fixed assets suffer insured damages or loss due to the drilling unit being wholly or partially deprived of income as a consequence of damage to the unit or when crew medical expenses are incurred, recovery is probable under the related insurance policies and the Company can make an estimate of the amount to be reimbursed following the insurance claim.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(i) Capitalized interest:</b></i> Interest expense is capitalized during the construction period of drilling units based on accumulated expenditures for the applicable project at the Company's current rate of borrowing. The amount of interest expense capitalized in an accounting period is determined by applying an interest rate (the "capitalization rate") to the average amount of accumulated expenditures for the asset during the period. The capitalization rates used in an accounting period are based on the rates applicable to borrowings outstanding during the period. The Company does not capitalize amounts in excess of actual interest expense incurred in the period. If the Company's financing plans associate a specific new borrowing with a qualifying asset, the Company uses the rate on that borrowing as the capitalization rate to be applied to that portion of the average accumulated expenditures for the asset that does not exceed the amount of that borrowing. If average accumulated expenditures for the asset exceed the amounts of specific new borrowings associated with the asset, the capitalization rate applied to such excess is a weighted average of the rates applicable to other borrowings of the Company. Capitalized interest expense for the years ended December 31 2014, 2015 and 2016, amounted to $37,342, $26,055 and $28,265, respectively (Note 13).</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(h) Advances for drilling units under construction and related costs:</b></i> This represents amounts expended by the Company in accordance with the terms of the construction contracts for drilling units as well as other expenses incurred directly or under a management agreement with a related party in connection with on site supervision. In addition, interest costs incurred during the construction (until the asset is substantially complete and ready for its intended use) are capitalized. The carrying value of drilling units under construction represents the accumulated costs at the balance sheet date. Cost components include payments for yard installments and variation orders, commissions to a related party, construction supervision, equipment, spare parts and capitalized interest.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(g) Concentration of credit risk:</b></i> Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents; trade accounts receivable and derivative contracts (interest rate swaps and foreign currency contracts). The maximum exposure to loss due to credit risk is the book value at the balance sheet date. The Company places its cash and cash equivalents, consisting mostly of bank deposits, with qualified financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions. The Company is exposed to credit risk in the event of non-performance by counter parties to derivative instruments; however, the Company limits its exposure by diversifying among counter parties. When considered necessary, additional arrangements are put in place to minimize credit risk, such as letters of credit or other forms of payment guarantees. The Company limits its credit risk with trade accounts receivable by performing ongoing credit evaluations of its customers' financial condition and generally does not require collateral for its trade accounts receivable. The Company has made advances for the construction of drilling units in a major shipyard in Korea. The ownership of the drilling units is transferred from the yard to the Company at delivery. As of December 31, 2016, cumulative installment payments made to the yard amounted to approximately $466,258 for the two drilling units under construction (Note 6). These installment payments are secured with irrevocable letters of guarantee, or "refund guarantees", issued by financial institutions.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(f) Trade accounts receivable net:</b></i> The amount shown as accounts receivable, trade, at each balance sheet date, includes receivables from customers, net of an allowance for doubtful receivables. At each balance sheet date, all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate allowance for doubtful receivables. As of December 31, 2015 and 2016, the provision for doubtful receivables was $117,438 and $22,368, respectively. </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(e) Restricted cash:</b></i> Restricted cash may include (i) minimum liquidity collateral requirements or minimum required cash deposits, as defined in the Company's loan agreements; (ii) taxes withheld from employees and deposited in designated bank accounts; (iii) amounts pledged as collateral for bank guarantees to suppliers and, (iv) amounts pledged as collateral for credit facilities and swap agreements.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(d) Cash and cash equivalents:</b></i><b> </b>The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(c) Comprehensive income/(loss):</b></i><b> </b>The Company's comprehensive income/(loss) is comprised of net income/(loss), actuarial gains/losses related to the adoption and implementation of Accounting Standard Codification ("ASC") 715, "Compensation-Retirement Benefits", as well as losses in the fair value of the derivatives that qualify for hedge accounting in accordance with ASC 815 "Derivatives and Hedging" and realized gains/losses on cash flow hedges associated with capitalized interest in accordance with ASC 815-30-35-38 "Derivatives and Hedging".</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During 2013, the Company adopted the requirements of Accounting Standard Update ("ASU") 2013-02, "Comprehensive Income (Topic 220) - Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income". The objective of this amendment is to improve the reporting of reclassifications out of accumulated other comprehensive income. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under US GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under US GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under US GAAP that provide additional detail about those amounts.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(b) Use of estimates:</b></i><b> </b>The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(a)</b></i> <i><b>Principles of consolidation: </b></i>The accompanying consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP") and include the accounts and operating results of Ocean Rig UDW, its wholly-owned subsidiaries and its VIEs. A VIE is an entity that in general does not have equity investors with substantive voting rights or that has equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company has the power to direct the activities of a VIE that most significantly impact the entity's economic performance and absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both.  All intercompany balances and transactions have been eliminated on consolidation. As of December 31, 2016 and 2015, the Company consolidated one VIE which supports our drilling operation in specific locations, for which it is deemed to be the primary beneficiary, i.e. it has a controlling financial interest in this entity.</font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The VIE's total assets and liabilities, as of December 31, 2015, were $35,362 and $77,647, respectively, while total liabilities exceeded total assets by $42,285. The VIE's total assets and liabilities, as of December 31, 2016, were $23,227 and $86,119, respectively, while total liabilities exceeded total assets by $62,892. </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2016, the Company also consolidated one additional VIE due to the Trust (as defined) formed for the purpose of the amendment of the $462,000 Senior Secured Credit Facility (Note 9). Since the assets of the Trust can be used only to settle obligations of the Trust itself and at the same time creditors of the Trust do not have recourse to the general credit of the primary beneficiary, such combined assets and liabilities are analyzed as follows: </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2016</b></font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>ASSETS</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;"><div style="text-indent:0.0px;"> </div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Cash and cash equivalents</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">167</font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Restricted cash</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">31,956</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Trade accounts receivable, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,341</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Other current assets </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,884</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total current assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>37,348</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>FIXED ASSETS, NET:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Drilling units, machinery and equipment, net </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">675,420</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total fixed assets, net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>675,420</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>OTHER NON-CURRENT ASSETS:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Restricted cash </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">20,008</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total non-current assets, net</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>20,008</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>732,776</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>LIABILITIES AND STOCKHOLDERS' EQUITY</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>CURRENT LIABILITIES:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Current portion of long-term debt, net of deferred financing costs </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">164,218</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accounts payable and other current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">5,218</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accrued liabilities </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,791</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>171,227</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>NON-CURRENT LIABILITIES</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Long term debt, net of current portion and deferred financing costs </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">82,947</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total non-current liabilities</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>82,947</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>COMMITMENTS AND CONTINGENCIES </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>SHAREHOLDERS' EQUITY:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Common stock, $20 par value; 1,000 shares authorized and issued at December 31, 2016</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">20</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Additional paid-in capital</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">960</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Retained earnings </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">477,622</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total shareholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>478,602</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:565px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total liabilities and shareholders' equity</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>732,776</b></font></div></td>
</tr>
<tr>
<td style="width:565px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:66px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>(y) Consolidation:</b></i> In February 2015, the FASB issued Accounting Standards Update No. 2015-02 (ASU 2015-02): Consolidation - Amendments to the Consolidation Analysis, which changes the guidance as to whether an entity is a variable interest entity (VIE) or a voting interest entity and how related parties are considered in the VIE model. As of December 31, 2016, the Company has adopted the provisions of ASU 2015-02, which did not impact the consolidated financial statements.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:331px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2018</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2019</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:331px;height:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Drilling units building contracts</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">417,931</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">520,165</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">938,096</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:331px;height:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total obligations</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>417,931</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>520,165</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:74px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>938,096</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:331px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:74px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:74px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:8px;"></td>
<td style="width:74px;"></td>
<td style="width:8px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:88px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:81px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
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<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Country</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Angola</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">807,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">527,098</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">500,413</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Brazil</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">581,635</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">581,438</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">517,885</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Congo</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">157,235</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">241,953</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Norway</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">220,044</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">231,189</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,925</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Falklands</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">154,606</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,106</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;height:13px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Senegal</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> -</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">52,214</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">289,162</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ivory Coast</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">97,232</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">33,723</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,164</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">South Africa</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">110,424</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other service revenues</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,697</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,059</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:381px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total service revenues</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,817,077</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:87px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,748,200</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:80px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,653,667</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:381px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:87px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:87px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:80px;"></td>
<td style="width:0px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:143px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>    2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:42px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:143px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>    2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:42px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>     2016</b></font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:47px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b> </b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Income (numerator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted- average number of outstanding shares (denominator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount per share</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Income (numerator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted- average number of outstanding share (denominator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:42px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount per share</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:109px;"><div style="text-align:center;margin-left: 27.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Loss (numerator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:74px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted- average number of outstanding shares (denominator)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount per share</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;height:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Net income/ loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">259,803</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:36px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">80,014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:37px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:102px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,241,518</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;background-color:#ffffff"><div style="margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Less: Allocation of undistributed earnings to non-vested stock</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(772</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:36px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(1,175</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:37px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:102px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:47px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:95px;background-color:#cceeff"><div style="margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Basic and diluted Earnings/ (loss) per share attributable to common stockholders</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>259,031</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>131,837,227</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:36px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>1.96</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>78,839</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>138,757,176</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:37px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>0.57</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:102px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(3,241,518)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>96,950,847</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:47px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(33.43)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:95px;"></td>
<td style="width:0px;"></td>
<td style="width:8px;"></td>
<td style="width:55px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:9px;"></td>
<td style="width:65px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:36px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:8px;"></td>
<td style="width:55px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:9px;"></td>
<td style="width:65px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:4px;"></td>
<td style="width:37px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:7px;"></td>
<td style="width:102px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:9px;"></td>
<td style="width:65px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:0px;"></td>
<td style="width:47px;"></td>
<td style="width:0px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Deferred tax assets</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Losses carried forward</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13,197</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">10,110</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Total deferred tax assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13,197</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">10,110</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Less: valuation allowance</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(13,197</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(10,110</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Total deferred tax assets, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:223px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year Ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Reconciliation of total tax expense:</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Income tax</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">70,441</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">94,331</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">106,315</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Taxes on litigation matters subject to statutory rates, including interest and penalties</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:54px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">7,382</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:54px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">5,485</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>77,823</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:54px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>99,816</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>106,315</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:412px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:54px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:54px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:78px;"></td>
<td style="width:7px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:218px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year Ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Current Tax expense</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">77,823</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">99,816</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">106,315</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Deferred Tax expense</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">- </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Income taxes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>77,823</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>99,816</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>106,315</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Effective tax rate on income / (loss) excluding impairment loss and gain from repurchase of the senior secured notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>23.1</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>%</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>24.6</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>%</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:55px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>20.6</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:12px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>%</b></font></div></td>
</tr>
<tr>
<td style="width:412px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:55px;"></td>
<td style="width:12px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:55px;"></td>
<td style="width:12px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:55px;"></td>
<td style="width:12px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:219px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest costs on long term debt</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">261,137</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">276,510</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">235,182</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;height:13px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Amortization and write off of financing fees (Note 2)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">42,995</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">24,033</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">21,040</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Discount on receivable from drilling contract</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,018</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(2,821</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Capitalized borrowing costs (Note 2)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(37,342</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(26,055</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(28,265</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Commissions, commitment fees and other financial expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">33,341</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,842</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,845</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>300,131</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>280,348</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>226,981</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:414px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Cash flows hedges realized loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(26,187</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Actuarial pension gain</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,346</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,346</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(22,841</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;line-height:1.14;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,346</b></font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">  </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Number of</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>non vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted average grant date fair value per non vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>612,798</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>13.49</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">186,702</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6.95</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Forfeited</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(63,950</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">12.29</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Vested</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(330,252</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13.33</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>405,298</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>10.80</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Forfeited</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(155,298</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">10.08</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Vested</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(150,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">12.43</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>100,000</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>9.46</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Number of</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Weighted average grant date fair value per vested shares</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>As at December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>309,452</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>17.22</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted and vested</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">52,802</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6.89</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Non vested shares granted in prior years and vested 2015</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">277,450</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">14.56</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted and vested shares in prior years, but cancelled during 2015</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(29,817</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">16.59</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>As at December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>609,887</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>15.15</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Vested shares granted in prior years</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">150,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">12,43</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Granted and vested shares in prior years, but cancelled during 2016</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(416,002</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">13.52</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>As at December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>343,885</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>15.94</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Quoted Prices in</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Active Markets for</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Identical Assets</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 1)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Significant Other</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Observable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 2)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Unobservable</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 3)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps-asset position</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,494</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,494</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps-liability position</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(11,674</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(11,674</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:57px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:336px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(8,180)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:57px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(8,180)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:336px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:5px;"></td>
<td style="width:5px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:57px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:7px;"></td>
<td style="width:64px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Quoted Prices in Active</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Markets for Identical</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Assets/Liabilities</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 1)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Significant Other</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Observable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 2)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Unobservable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 3)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Impairment loss</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Non-Recurring measurements:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:87px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:59px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:71px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Long-lived assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:53px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">610,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(414,986</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:53px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:53px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Quoted Prices in Active</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Markets for Identical</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Assets/Liabilities</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 1)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Significant Other</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Observable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 2)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:71px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Unobservable Inputs</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(Level 3)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Impairment loss</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Non-Recurring measurements:</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:87px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:59px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:71px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Long-lived assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:53px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,035,499</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,658,815</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:333px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:53px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:3px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:333px;"></td>
<td style="width:3px;"></td>
<td style="width:8px;"></td>
<td style="width:78px;"></td>
<td style="width:3px;"></td>
<td style="width:3px;"></td>
<td style="width:6px;"></td>
<td style="width:53px;"></td>
<td style="width:3px;"></td>
<td style="width:3px;"></td>
<td style="width:7px;"></td>
<td style="width:64px;"></td>
<td style="width:3px;"></td>
<td style="width:4px;"></td>
<td style="width:6px;"></td>
<td style="width:56px;"></td>
<td style="width:4px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Derivatives not designated</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>as Hedging Instruments</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance Sheet Location</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2015</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Fair value</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2016</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Fair value</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Financial Instruments non-current assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,494</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Financial Instruments current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(8,931</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Financial Instruments non-current liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(2,743</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total derivatives</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:246px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(8,180)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:246px;"></td>
<td style="width:246px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "> </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Amount of Gain/(Loss)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Derivatives not designated</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>as hedging instruments</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Location of Gain or (Loss)</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Recognized</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:207px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Gain/ (Loss) on  interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(12,671</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(11,513</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(4,388</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
</tr>
<tr>
<td style="width:207px;"></td>
<td style="width:207px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2017</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">658,063</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2018</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">115,202</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2019</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">162,974</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2020</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,794,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2021 </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,218,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>       Total principal payments</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,949,239</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Less: Financing fees</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(61,466</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:569px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>       Total debt</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,887,773</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:153px;height:32px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Loan</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;"><div style="text-align:center;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Loan Agreement Date</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Original</font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Amount</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">December 31,</font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2015</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Repayments/ Repurchase of senior notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">December 31,</font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2016</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:center;margin-left: 10.9px;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:77px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$800 million Senior Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">September 20, 2012</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">800,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">607,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(148,019</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">459,723</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$1.9 billion Secured Term Loan B Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#ffffff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">July 12, 2013</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,900,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,857,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(19,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,838,250</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$500 million Senior Unsecured</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">March 26, 2014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">500,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">229,411</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(98,437</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">130,974</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$1.3 billion Senior Secured </font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Term Loan B</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#ffffff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">July 25, 2014</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,300,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,283,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(13,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,270,750</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:22px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$462 million Senior Secured    Credit Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:right;margin-left: 10.9px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">February 13, 2015</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">462,000</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">432,821</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(183,279</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">249,542</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:153px;height:22px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:1px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:111px;background-color:#cceeff"><div style="text-align:center;margin-left: 10.9px;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:69px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$ </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>4,410,974</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(461,735</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:7px;background-color:#cceeff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,949,239</b></font></div></td>
</tr>
<tr>
<td style="width:153px;"></td>
<td style="width:1px;"></td>
<td style="width:111px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:7px;"></td>
<td style="width:69px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$1.3 billion Senior Secured Term Loan B Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,283,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,270,750</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$1.9 billion Secured Term Loan B Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,857,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,838,250</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$462 million Senior Secured Credit Facility</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">432,821</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">249,542</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$500 million Senior Unsecured Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">229,411</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">130,974</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$800 million Senior Secured Notes</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">607,742</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">459,723</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less: Deferred financing costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(82,506</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(61,466</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total debt</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,328,468</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,887,773</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Less: Current portion</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(56,725</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(640,557</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Long-term portion</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>4,271,743</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3,247,216</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deferred mobilization expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">23,992</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5,564</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Intangible assets, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,289</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,845</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Prepaid investments</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,579</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">425</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>36,860</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7,834</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="7" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:139px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Cost</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:114px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Accumulated</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Depreciation</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Net Book Value</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>7,331,372</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(1,123,739</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>6,207,633</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Additions/ Transfer from drilling units under construction</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">909,830</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">909,830</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Disposal of assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(5,477</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(5,477</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Impairment loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(976,730</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">561,744</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(414,986</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Depreciation</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:133px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:108px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(360,108</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(360,108</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:10px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>7,258,995</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(922,103</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>6,336,892</b></font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Additions</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">99,515</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">99,515</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Disposal of assets</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(7,756</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">133</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(7,623</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Impairment loss</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="6" style=" border:solid #000000 0.0px;width:133px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,658,815</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(3,658,815</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
</tr>
<tr>
<td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:321px;height:13px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Depreciation</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:9px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:8px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:67px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:47px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(331,677</font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:4px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">) </font></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(331,677</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:305px;height:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance December 31, 2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:133px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>3,691,939</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:108px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>(1, 253,647)</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:0px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2,438,292</b></font></div></td>
</tr>
<tr>
<td style="width:305px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:10px;"></td>
<td style="width:8px;"></td>
<td style="width:9px;"></td>
<td style="width:86px;"></td>
<td style="width:8px;"></td>
<td style="width:10px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:60px;"></td>
<td style="width:47px;"></td>
<td style="width:4px;"></td>
<td style="width:0px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:59px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance at beginning of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>622,507</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>394,852</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Advances for drilling units under construction and related costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">500,031</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">242,988</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Drilling units delivered</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(727,686</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Impairment loss (advances and related costs for drilling unit under construction)</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(92,371</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">) </font></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Balance at end of year</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>394,852</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>545,469</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:142px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Inventories</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18,088</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12,988</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deferred mobilization expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">43,825</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,351</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Prepayments and advances</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">20,607</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,500</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,013</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">85</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> <b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>84,533</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>29,924</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:143px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance Sheet</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:65px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Due to related parties</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>7,231</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#ffffff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Advances for drilling units under construction and related costs</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">394</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,569</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Drilling units, machinery and equipment, net</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,961</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">488</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:491px;background-color:#cceeff"><div style="text-align:justify;margin-left: 24.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Accrued liabilities</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6,432</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:7px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">3,100</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td style="width:491px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:7px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
</tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Statement of Operations</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Revenues - commission fees</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> $</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">16,826</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">16,524</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$ </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">14,925</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Drilling units operating expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">4,209</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Amortization and write-off of financing fees - DryShips</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,781</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">General and administrative expenses</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> 32,660</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> 7,409</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">24,924</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:414px;background-color:#cceeff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest income</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:59px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,164</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6,024</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:6px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:5px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td style="width:414px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:59px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:6px;"></td>
<td style="width:58px;"></td>
<td style="width:5px;"></td>
</tr>
</table>
<div></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="10" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:218px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year ended December 31,</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:61px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2016</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer A</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">11</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer B</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">19</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">20</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer C</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">13</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"> </div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer D</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">30</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">15</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer E</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">13</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#cceeff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#cceeff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:412px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Customer F</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">15</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:14px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> %</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:4px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:56px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:11px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">%</font></div></td>
</tr>
<tr>
<td style="width:412px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:56px;"></td>
<td style="width:11px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:56px;"></td>
<td style="width:14px;"></td>
<td style="width:4px;"></td>
<td style="width:4px;"></td>
<td style="width:56px;"></td>
<td style="width:11px;"></td>
</tr>
</table>
<div></div>
2017-03-21
369000000
340300000
2017-03-21
5230074
0.5
10000000
520165000
520165000
12.43
150000
0.0725
0.095
2014-03-26
2011-04-27
459723000
3358542000
462000000
1900000000
1300000000
LIBOR
22222222
120000000
120000000
500000000
500000000
-289654000
379993000
-54317000
58000
60000
2000
-25000
-9000
-84350000
142433000
0
8690000
0
0
466000
0
0
0
192714000
0
75194000
50281000
0
500000000
0
0
500000000
0
0
172654000
-379993000
54317000
3000000
0
0
120000000
0
0
-88302000
237535000
-54326000
259319000
81111000
-3215331000
-484000
1097000
26187000
-1518000
62000
0
1034000
1035000
26187000
131837227
138757176
96950847
1.96
0.57
-33.43
259031000
78839000
-3241518000
259803000
80014000
-3241518000
342288000
147885000
-3185795000
-74502000
-60947000
-37728000
6224000
5041000
177000
1383000
0
0
82109000
65988000
37905000
-7983000
-6924000
-17995000
7983000
6924000
17995000
417931000
0
78306000
226655000
129844000
601845000
457745000
1814746000
1804272000
1257484000
1248747000
8805000
P5Y
0
-6748000
0
414986000
22222222
78301755
0.01
0.01
160888606
160888606
160888606
160888606
1000000000
1000000000
0.01
0.01
0
0
0
0
500000000
500000000
0.01
0.01
3781922000
143601000
3274765000
10750000
-276330000
-3517848000
-22841000
3346000
3572549000
3524426000
222000
783000
1609000
1609000
0
0
497244000
129844000
497244000
129844000
9913000
3007000
9913000
3007000
3781922000
143601000
3781705000
143381000
3781705000
143381000
217000
220000
182000
194000
35000
26000
37342000
26055000
28265000
3658815000
25152000
0
2781000
0
192258000
1
1.0325
270589000
8
2
3341000
2000000
6
5
394196000
93633000
-97939000
126244000
133000
The Company does not believe that cash on hand, following the repayment of $459,723 in relation to Drill Rigs Senior Notes, and cash generated from operations, will be sufficient to meet the maximum leverage ratio covenant requirement for the Secured Term Loan B Facilities. In addition, the current market conditions will not allow the Company to improve its liquidity position through the sale of any of its drilling units, access to equity offerings, debt refinancing or a combination thereof, over the next year following the date of the issuance of these financial statements.
The Company expects that during the fourth quarter of 2017, will be in breach of the maximum leverage ratio covenant requirement for the Secured Term Loan B Facilities and will require additional cash liquidity in order to cure the covenant and remain in compliance, otherwise the Secured Term Loan B Facilities will be callable and payable in full.
459723000
267930000
54282000
3100000000
3.19
7.24
P3Y
P3Y
13502
173200
12.6
P3Y
45450
17.79
P3Y
161200
4694314000
3658815000
1035499000
414986000
58720000
130454000
3658815000
3658815000
-7623000
-7756000
394852000
545469000
0
92371000
2016-12-31
2016-03-31
2016-03-31
117438000
22368000
31956000
15000000
2019
120000000
17777778
80000000
4444444
40000000
1
0
-300000
10850000
The fair value of the interest rate swaps was determined using a discounted cash flow method based on market-based LIBOR swap yield curves, taking into account current interest rates and the creditworthiness of both the financial instrument counterparty and the Company.
337626000
405642000
516134000
13197000
10110000
3576000
3676000
1506000
27776000
610000000
-8180000
3494000
-8180000
0
125000000
145894000
Under the $462,000 Senior Secured Credit Facility, the Company was required to find a new Satisfactory Drilling Contract (as defined in the loan agreement) by May 21, 2016.
The repayment schedule of the loan was altered to include a cash sweep term authorizing the lenders to transfer any excess cash flow on a monthly basis, as a prepayment pro rata across the loan, therefore, leading to the full repayment of the loan by June 2018, whereas according to the initial repayment schedule it would have been fully repaid by June 2020.
As a result of this refinancing, the total $1.9 billion of Tranche B-1 Term Loans will mature no earlier than the third quarter of 2020.
2013-07-26
148019000
98437000
2021-07-25
semi-annual
82506000
61466000
As of December 31, 2016, all of the Company's operating drilling units, apart from the Ocean Rig Paros have been pledged as collateral to secure the Company's 6.50% senior secured notes due 2017, the $462,000 Senior Secured Credit Facility and the Term Loan B facilities discussed in Note 9.
0.065
65000000
414986000
-5477000
561744000
976730000
-5477000
709565000
694790000
With respect to the Ocean Rig Amorgos, the Company agreed to suspend its construction with an option, subject to the Company's option, to bring it back into force within a period of 18 months after the date of the addendum.
As part of the agreements, the deliveries of the Ocean Rig Santorini and the Ocean Rig Crete were postponed to June 2018 and January 2019, respectively.
January 2019
The Company entered into agreements with the yard to amend certain terms relating to contracts for the construction of its three seventh generation drilling units (the Ocean Rig Santorini, the Ocean Rig Crete and the Ocean Rig Amorgos) which were previously scheduled for delivery in 2017, 2018 and 2019, respectively.
June 2018
2016-12-31
P0Y3M
P0Y3M
30000000
15000000
150000000
1291700
835000
2000000
0.002
0.0075
0.01
56079533
P0Y0M60D
P5Y
P5Y
1164000
6024000
0
32660000
7409000
24924000
0
0
4209000
16826000
16524000
14925000
0
7231000
6432000
3100000
732776000
478602000
477622000
960000
20000
82947000
82947000
171227000
1791000
5218000
164218000
732776000
20008000
20008000
675420000
675420000
37348000
1884000
167000
1000
1000
20
0
0
49911000
727686000
0
500031000
242988000
455997000
543976000
97163000
360108000
331677000
-922103000
-1253647000
-1123739000
7258995000
3691939000
7331372000
727832000
582122000
454329000
909830000
99515000
909830000
99515000
394000
1569000
2961000
488000
6336892000
2438292000
6336892000
2438292000
6207633000
21106000
-222000
-22222222
222000
-22222222
120000000
119778000
193983000
193697000
286000
28571428
-75194000
-75194000
1268000
1268000
-15450
459723000
70441000
94331000
106315000
0
0
0
0
6748000
0
100000000
500000000
22222222
78301755
0.01
0.01
-461735000
825000000
975000000
quarterly and monthly basis
semi-annual
462000000
-25274000
-183279000
-98437000
-13000000
-19000000
-148019000
P3Y
300000
103961000
100314000
131745000
0
360108000
331677000
4282000
0
114613000
561000
-56079533
P5Y
P5Y
-783000
-78301755
22222222
49911000
49350000
1428571
28571428
-8720000
324302000
362587000
334155000
-721000
-2591000
0
414986000
3776338000
3346000
0
3346000
-26187000
462000000
3289000
1845000
23992000
5564000
5 years
6351000
43825000
30 years
628242000
1002304000
427168000
1156958000
357431000
201129000
51080000
100367000
P3Y
150000
P2Y
76600000
156900000
suspended
2018
Straight-line basis
226981000
0
121455000
273673000
0
-5177000
612798
1024986000
13.49
0.93
0.9
1218750000
-2821000
3018000
0
0
189174000
125001000
235576
0.19
2015-05-29
0.19
2015-03-23
52214000
0
0
289162000
241953000
0
154606000
157235000
1350000000
67841000
57160000
309358000
0.09
0.18
0.15
0
0.14
0.13
0.14
0.31
0.15
0.3
0
0.13
0.12
0.2
0.19
0.18
0.11
0.14
0.14
7382000
5485000
0
425000
3494000
0
3000
1000
10000000
-4388000
0
-8180000
11674000
11674000
3494000
2017
9.46
18.37
20555556
29755000
May 2016
LIBOR
120000000
466258000
30 years
1.045
1.05375
P5Y
493625000
0
2743000
8931000
0
-12671000
-11513000
259031000
78839000
-3241518000
0.64
229411000
500000000
130974000
658063000
26187000
1034000
1035000
1.01
37700000
0.095
1.01
462300000
0.0725
2014-03-26
1283750000
1270750000
1300000000
-1034000
-1035000
-26184000
304132000
300543000
256222000
0.064
0.063
0.062
37342000
26055000
28265000
475000000
1800000000
1300000000
1300000000
LIBOR
Q3 2020
Q3 2016
Q1 2021
2015-02-13
4410974000
249542000
4328468000
432821000
1838250000
1857250000
1900000000
607742000
800000000
1862250000
2250000000
61179000
462000000
215279000
0
2014-07-25
2013-07-12
2012-09-20
3887773000
4271743000
56725000
3247216000
640557000
938096000
938096000
417931000
97232000
33723000
1164000
0
10697000
7059000
1653667000
0
500413000
581635000
220044000
1817077000
110424000
807742000
581438000
231189000
1748200000
0
527098000
517885000
74925000
0
13197000
13197000
0
10110000
10110000
106315000
0
77823000
0
99816000
0
106315000
0.231
0.246
0.206
499539000
-161913000
185742000
219900000
0
0
337626000
179830000
-3135203000
772000
33341000
261137000
276510000
235182000
42995000
24033000
21040000
3346000
-22841000
0
15.94
13.52
15.15
16.59
14.56
6.89
17.22
343885
-416002
609887
-29817
277450
52802
309452
150000
330252
63950
13.33
12.43
186702
12.29
6.95
0
1800000000
0
1600000000
0
0
7
7
0
1794250000
162974000
115202000
622507000
0.3
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FY
2016
No
Accelerated Filer
--12-31
No
Yes
0001447382
Ocean Rig UDW Inc.
false
2016-12-31
20-F