UPDATE 2-Canada's Trinidad Drilling posts Q3 loss

* Q3 shr loss C$0.10 vs EPS C$0.21 yr ago

* Rev falls 34 pct

* Says sees slow return of price control in mid-2010 (Adds details, analysts' comments, updates stock movement)

By Koustav Samanta

BANGALORE, Nov 4 (Reuters) - Canada's Trinidad Drilling Ltd (TDG.TO: Quote, Profile, Research) posted a quarterly loss, hurt by foreign exchange losses and lower utilization rates, and said it sees a slow return of price control towards mid-2010.

The drilling equipment maker said it moved two new rigs to its U.S. operations, redeployed four existing under-utilized rigs to Mexico and one rig to Chile, all under long-term take-or-pay contracts.

CIBC World Markets analyst Jeff Fetterly said Trinidad's continued expansion into the U.S. and international markets would provide broader commodity exposure to the company.

"International component is a small portion of their business but it provides good growth opportunity going forward," Fetterly said by phone.

The company has 53 rigs operating in Canada, 58 in the United States, seven in Mexico and one in Chile, it said on a conference call with analysts.