GotTheTShirt: 1201 as a pax aircraft was also for some time in possession of Tradewinds. 1201 and 1012 were "purchased" at about the same time and "returned-to-service" at Greensboro simultanously. 1012 departed first to Thailand. You are correct she is a freighter and have also heard she is standing now.
S/n 1201 was flown to South Africa where converted to "backyard bulkloader" after which it was attempted to place on Swazi-, then DR Congo Civil Registers. After no joy it was registered by Uganda CAA for about one year but when could not comply was deregistered and again registered in Kyrgyz as EX-102. This machine had plenty troubles and now allegedly standing at Istanbul with blown engine.
RECENT HISTORY OF s/n 1201:
06/2004 bought West Air16.11.2004 bought AeroLift ; flew JNB-CGK-Philippines in Tradewinds colours ; no titles ; re-registered 9Q-CVN18.11.2004 had an inflight engine shutdown ; hence the landing at Cairns ; no titles ; named "Natali"20.11.2004 ferried to Sydney for further work04/2005 bought Vadim Lahktin ; leased Almiron Aviation ; re-registered 5X-AAL11.05.2005 seen at Johannesburg ; no titel ; Tradewinds colours13.07.2005 5X-AAL overran runway at Lagos - runway closed 2 days02.10.2005 seen parked Ras al-Khaimah23.04.2006 seen Dhaka - Zia International (DAC / VGZR)05/2006 seen parked Ras al-Khaimah21.03.2007 seen Istanbul - Sabiha Gokcen (SAW / LTFJ) ; re-registered EX-102 ; all white ; 2 red stripes no titels ; operating for Reem Air12.05.2007 again stored Ras al-Khaimah
This is s/n 1201, exactly as reported by Avgasdinosaur :
http://www.airliners.net/open.file/0761525/M/
TRITAR500: Very possible that Duane has moved to Chad (Ndjemena) as it is impossible for those two old machines to fly any longer in decent areas. Even based and flying out of Ras Al Khaimah his only destinations were Dhaka in Bangladesh and Ndjemena in Chad, flying for rediculously low rates.
Prior to this though Duane most definately also tried to team up with Reem Air together with L1011 sn/1201. Reem are Russian IL-76 operators and can imagine that they must have viewed the acquisition of these three L1011's as their breakthrough into western aircraft, perhaps unsuspecting but little realising that these machines were finnished and with nowhere to go.
Would be interesting to know if Duane owes Reem Air the alleged substantial amount of money. Having moved to Chad will however not help Duane much as the flying to Ndjemena is primarily from the UAE and prospects are slim that those two old machines will be allowed into UAE again, or for much longer.