Arias, Fábrega & Fábrega acted as special Panamanian legal counsel to Tabasco Jackup, S.A. de C.V. and Campeche Jackup, S.A. de C.V., in connection with a credit agreement originally dated as of 31 October 2013, as amended and restated pursuant to an amended and restated credit agreement dated as of 18 July 2014, among:

1. Tabasco Jackup, Campeche Jackup, Veracruz Modular Rig, S.A. de C.V. and Tamaulipas Modular Rig, S.A. de C.V., as borrowers,
2. the guarantors referred to therein,
3. the lenders referred to therein,
4. the Mexican agent defined therein, and
5. HSBC Bank USA, National Association as administrative agent, pursuant to which the lenders have agreed to make available to the borrowers, certain loans in the aggregate amount of US$275 million to partly finance the acquisition of the Panamanian flag jackup rig "Tabasco", and the modular platform equipment: Tamaulipas and Veracruz. 

The agreement has been secured by, among other security,

1. a first preferred Panamanian naval mortgage dated 31 October 2013, over the Panamanian jackup rig "Sonora", amended by a deed of first amendment to first preferred Panamanian naval mortgage dated 18 July 2014,
2. a first preferred Panamanian naval mortgage dated 5 November 2013, over Tabasco, amended by a deed of second amendment to first preferred Panamanian naval mortgage dated 18 July 2014, and
3. a first preferred Panamanian naval mortgage dated 1st August 2014, over the Panamanian flag jackup rig "Campeche", granted by Campeche Jackup in favour of the mortgagee, for the maximum principal amount of US$676 million.

Grupo Mexico, through its subsidiary Perforadora Mexico (PEMSA) became the pioneer in exploratory sea drilling in Mexico and has led the industry as the first Mexican company providing complete drilling services.  It currently has, perhaps the largest sea drilling operation in Mexico. With the purchase of "Tabasco" through its subsidiary Tabasco Jackup S.A. de C.V., Grupo Mexico/PEMSA are expanding and innovating in the sea drilling operations in Mexico.