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Gold/Mining/Energy : Tesco Corp (TSE:TEO)

TEO 12.03

+7.3%

3:59 PM EST

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To: John Stopforth who wrote (3)	11/30/1996 10:48:00 PM
From: Cadman Chui	of 11

John, I've read some reports on Tesco, and according to Sprott Securities, Varco doesn't have the technological edge that Tesco has at the moment. Tesco came out with a news report last Friday and will commence trading on Monday on the Nasdaq National Market. Whether this will be good or bad for the share price, we will have to wait and see (comments?). They've also reported very good earnings and is currently field testing its electric top-drive mechanism. Tesco's R&D division is also prototyping a smaller, lighter version of its portable top drive. BTW, Tesco has also adopted a shareholder rights plan (poison pill), to deter any hostile takeover attempts. Regards, Cadman.

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