August 25, 2008
Deep Down Expands ROV Staff Through Mako Technologies
HOUSTON, Aug. 25 /PRNewswire-FirstCall/ -- Deep Down, Inc. (BULLETIN BOARD: DPDW) today announced that its wholly-owned subsidiary, Mako Technologies, LLC (Mako) has appointed Bryce Merrill to the position of Director of Subsea Services. Merrill brings over 40 years of experience and relationships in the subsea industry to Mako; 17 years as a diver and 25 years with Remote Operated Vehicles (ROVs).
Before joining Mako, Merrill served on various projects for BP, Chevron, Petrobras, Shell and Total. During his tenure at Oceaneering International, Inc., he served as ROV supervisor for the Petrobras Pacnorse project, where he was responsible for operation of the Arms Bell onboard the drillship, which at the time set a new world depth record with a dive to 3032 feet. Merrill has significant experience designing and building specialty tools used in subsea operations. Merrill also held various office positions as Audit Manager, Recruiting Manager and Operations Manager.
"Bryce Merrill has an extensive background in subsea services. He is well respected in the industry, and we are very pleased to have him join Mako where we believe he will have significant impact on our ROV operations," commented Jacob Marcell, Mako's president.
"The hiring of Mr. Merrill is a very important milestone for Deep Down in its plans to develop a significant presence in the market for ROV services in offshore and deepwater applications, one of three primary targeted areas of growth for the company. The other two primary areas of focus are drilling riser buoyancy through its wholly-owned subsidiary, Flotation Technologies and umbilicals and steel flying leads through its wholly-owned subsidiary Deep Down," said Robert E. Chamberlain, Jr., Deep Down's Chairman and CAO.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and recovery systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. For further company information, please visit http://www.deepdowninc.com/ or call Ron Smith at 281-862-2201.
The Company's ElectroWave USA subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. For further company information, please visit http://www.electrowaveusa.com/ or call Greg Boucher at 713-896-7799.
The Company's Mako Technologies subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. For further company information, please visit http://www.makotechnologies.com/ or call Jacob Marcell at 985-385-7817.
Flotation Technologies engineers, designs and manufactures deepwater buoyancy systems using high-strength Flotec(TM) syntactic foam and polyurethane elastomers. Flotation's product offerings include distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyance modules, CoreTec(TM) drilling riser buoyancy modules, ROVits(TM) buoyancy, Hydro-Float mooring buoys, Stablemoor(TM) low-drag ADCP deployment solution, Quick-Loc(TM) cable floats, Hardball(TM) umbilical floats, Flotec(TM) cable and pipeline protection, Inflex(TM) polymer bend restrictors, and installation buoyancy of any size and depth rating. For further company information, please visit http://www.flotec.com/ or call David Capotosto at 207-282-7749.
The Company's strategy is to become a leading provider of products and services to the offshore industry, including shallow, deep, and ultra-deep water applications in oil and gas exploration, development and production activities, and maritime operations. Management plans to achieve this strategy through organic growth and strategic acquisitions of complementary businesses with technological advantages in deepwater environments.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans,""expects,""believes,""anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Deep Down, Inc.
CONTACT: Steven Haag, Investor Relations of Deep Down, Inc.,+1-281-862-2201, fax, +1-281-862-2522, [email protected]
Web site: http://www.deepdowninc.com/http://www.makotechnologies.com/http://www.electrowaveusa.com/http://www.flotec.com/