SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Quintana Julio M

(Last)

(First)

(Middle)

3993 W. SAM HOUSTON PARKWAY N.

SUITE 100

(Street)

HOUSTON

77043

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TESCO CORP [ TESOF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/05/2007	03/05/2007	J⁽¹⁾		148	A	$20.88⁽²⁾	17,811⁽³⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option to Purchase	$9.08⁽⁴⁾							08/24/2004	08/25/2011	Common Stock	200,000		200,000	D
Option to Purchase	$9.1⁽⁵⁾							⁽⁶⁾	05/13/2012	Common Stock	60,000		60,000	D
Option to Purchase	$18.74⁽⁷⁾							⁽⁸⁾	05/18/2013	Common Stock	50,000		50,000	D

Explanation of Responses:

1. On March 5, 2007, the Plan Administrator for Tesco Corporation's Employee Stock Savings Plan purchased 148 shares of the Company's stock with funds deducted from Reporting Owner's February 2007 monthly salary.

2. The shares were purchased at a per-share price of $24.66 Cdn and converted to US dollars using the closing rate of exchange of the Bank of Canada on the settlement date (03/05/07).

3. Includes 4,811 shares held in Reporting Person's name in the Company's Employee Stock Savings Plan.

4. The exercise price was converted from $11.85 Cdn using the closing rate of exchange of the Bank of Canada on the date of grant. The actual exercise prices will be the Cdn dollar amount regardless of the exchange rate on the date of grant or of exercise.

5. The exercise price was converted from $11.52 Cdn using the closing rate of exchange of the Bank of Canada on the date of grant. The actual exercise prices will be the Cdn dollar amount regardless of the exchange rate on the date of grant or of exercise.

6. The Option to Purchase vested in three annual installments of 20,400, 19,800 and 19,800 respectively beginning 05/13/2006.

7. The exercise price was converted from $21.00 Cdn using the closing rate of exchange of the Bank of Canada on the date of grant. The actual exercise prices will be the Cdn dollar amount regardless of the exchange rate on the date of grant or of exercise.

8. The Option to Purchase vested in three annual installments of 17,000, 16,500 and 16,500 respectively beginning 05/18/2007.

Remarks:

	James A. Lank, Attorney-in-Fact	03/07/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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