Tesco Corp (USA) (NASDAQ:TESO)

CAPS Rating: 5 out of 5

The Company designs, manufactures and services delivery of technology based solutions for the upstream energy industry.

Recs

3
Player Avatar hockey99win (< 20) Submitted: 3/23/2007 10:37:34 AM : Underperform Start Price: $25.83 TESO Score: +66.50

4 lawsuits,

Member Avatar hockey99win (< 20) Submitted: 4/14/2007 12:22:03 AM
Recs: 1

TESCO 4LAW SUITS,TSX CHECKING OPTIONS ,MORE Tesco is in trouble,if you took the time to read their 10k or Mar 28 2007 Audited annual financial statements - English PDF 1078 K at http://sedar.com/ READ PAGE F3 AND F4and READ their md&a AT SEDAR.COMyou would have noticed that the followingtsx is looking into the options ( not good) go to edgar and note the amended form4/a now some insiders are paying tesco back !!! SEC Info Beierbach Barry E - 4/A - Tesco Corp april12,and april 3 for the same shares note the others!!! another example Lakey Nigel M reported on edgar on 04/03/07note the remarks on his form4/a. Includes 344 shares held in Reporting Person's name in the Company's Employee Stock Purchase Plan. Remarks: The Reporting Person's sale of Tesco common stock reported herein was matchable under Section 16(b) of the Securities Exchange Act of 1934, to the extent of 344 shares, with the reporting person's purchase of 344 shares of Tesco common stock in three transactions: 103 shares at a price of $18.42 per share on 1/17/07; 148 shares at a price of $19.68 per share on 2/19/07; and 93 shares at a price of $20.88 per share on 3/5/07. The Reporting Person has agreed to pay to Tesco $2,444.76 representing the full amount of the profit realized in connection with the short-swing transaction, less transaction costs. At the time the original Form 4 was filed, the trading symbol for Tesco Corporation was TESOF. Effective as of April 2, 2007, Tesco Corporation's trading symbol was changed to TESO. price water house SAYS TESCO DID NOT MAINTAIN EFFECTIVE INTERNAL CONTROL OVER FINANCIAL REPORTING ETC ON PAGE 4!!!at sedar Mar 28 2007 Audited annual financial statements THE LIST IS ALSO VERY INTERESTING ON PAGE F3 READ #2 SHOCKING!!!! a long list 4 MAJOR LAW SUITS 2PATENT national oilwell varco and franks,and 1 IN MEXICO,AND 1 IN MIDDLE EAST( very costly just for the lawyers and what if they loose)AND LOST TO WEATHERFORD (note the off shore show at the end of april/07 in Houston)http://www.otcnet.org/2007/index.html go to Awards Spotlight on New Technology , then Weatherford OverDrive™ System Spotlight AwardsWeatherfordOverDrive™ SystemThe OverDrive™ system was developed to enhance the safety and efficiency of top-drive casing running and drilling operations.The system is made up of several distinct components, primarily the TorkDrive™ heavy duty and modular tools, which are mounted directly to the rig’s top drive for making up and breaking out casing. These tools provide complete casing running and drilling capabilities, combining the functions of conventional power tongs, bails, elevators, thread compensators and fill-up circulation tools.The OverDrive™ system provides faster makeup and breakout with accurate thread compensation, the ability to switch between fill-up and circulating functions without repositioning the tool, high-volume circulation and fluid recovery, independent torque measurement, and reduced risk of operator errors with multiple safety interlocks.In addition to these improvements on conventional methods, the system takes operations to a new level by providing the ability to do what conventional tools cannot. These game-changing advantages include rotating and pushing down the casing while running to help prevent differential sticking, achieving high-speed string rotation with the top drive when drilling/reaming-with-casing and removing even more personnel from hazardous rig floor operations to remove risk.

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