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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 (7)	1/29/1997 2:17:00 PM
From: John Stopforth	of 11

Nine months earning for Tesco ww2.newswire.ca I received the print version of their eanings today and here are some of the points: Completion of the utltra-compact 150HMI top drive systrem for use on workover rigs and small drilling rigs. The first installation of a Tesco top drive system on a floating rig. The highest quarterly rental days on the Company's history with an average of more than 35 top drive systems working on a daily basis throughout the quarter. Tesco's 500 ton, 900 HP prototype electric top drive(500EC) that employs advanced permanent magnet motor technology, has operated beyond expectation for 45 days in field trials in northeastern B.C. Tesco is proceeding to manufacture an additional five 500EC top drive drilling systems to meet existing customer demand. Based on initial industry reponse, strong demand is expected for this state of the art unit. Tesco will in the next six months build a prototype 650 ton, 1800HP electric top drive using the same advanced permanent magnet motor techology. This top drive will have an integrated swivel and will be aimed at the active and growing offshore market where higher hook loads and horespower are required John

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