TESCO REWIEW STRATEGIC PLAN

Tesco Corporation Response to White Eagle Partners, LLC Open Letter to Chairman

TESCO Corporation issues a response to a recent public communication made by its shareholder White Eagle Partners LLC:

The Board of TESCO values the opinions of its shareholders, and welcomes the opportunity to exchange views with our owners.   Over the recent months, TESCO has engaged with White Eagle both in writing and through discussions with management, and has noted and considered the suggestions presented by White Eagle in these meetings.

The Company reviews its strategic plan and capital allocation policies on a regular periodic basis, in addition to considering those topics in normal discussions at our Board meetings. TESCO is currently in the midst of such a review, and we expect to complete it by the end of the second quarter of 2014.  As a part of this process, consistent with its past practice, the Board will evaluate the Company's current strategic plan and capital allocation policies with a view to maximizing long-term shareholder value.

More information here.