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Deep Down Commences Offshore Work Related to Installation of Subsea Hardware 11/30 09:24 AM


HOUSTON, Nov. 30, 2010 /PRNewswire/ -- Deep Down, Inc.

DPDW:$0.065,0$-0.010,0-13.33%) ("DEEP DOWN"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today announced it has commenced support related to the installation of surface and subsea hardware offshore West Africa as previously announced April 22, 2010. The offshore scope of work is scheduled to be completed during the fourth quarter 2010.

The DP2 offshore installation vessel previously departed from the US Gulf of Mexico to West Africa with all equipment and hardware required for the work, including 3000 meter work-class ROV system, ROV tooling, ADS diving system and surface diving, manufactured subsea and surface hardware and umbilical installation equipment and survey spread. The vessel and equipment will be returning to the US Gulf of Mexico upon completion of the scope of work, pending other requirements in the region or other locations in route.

Ronald E. Smith, Chief Executive Officer, stated, "This project demonstrates Deep Down's ability to put together a tailored subsea support package to meet our client's specific requirements, with products and services from each member of the Deep Down group being utilized along with key subcontractors in support of this project."

About Deep Down, Inc. (DPDW:$0.065,0$-0.010,0-13.33%)

Deep Down, Inc. (DPDW:$0.065,0$-0.010,0-13.33%) is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down's proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company's primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. More information about Deep Down is available at www.deepdowncorp.com.

Forward-Looking Statements

Information set forth in this document contain "forward-looking statements" (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect Deep Down's expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the benefits of the business combination transaction involving Deep Down and Cuming, including future financial and operating results, whether and when the transactions will be consummated, the new combined company's plans, market and other expectations, objectives, intentions and other statements that are not historical facts.
The following additional factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the ability to obtain financing and approvals for the transaction; the risk that any synergies from the transaction may not be realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; the ability to successfully integrate the businesses, unexpected costs or unexpected liabilities that may arise from the transaction, whether or not consummated; the inability to retain key personnel; continuation or deterioration of current market conditions; future regulatory or legislative actions that could adversely affect the companies; and the business plans of the customers of the respective parties. Additional factors that may affect future results are contained in Deep Down's filings with the Securities and Exchange Commission ("SEC"), which are available at the SEC's web site http://www.sec.gov. Deep Down disclaims any obligation to update and revise statements contained in these materials based on new information or otherwise.
SOURCE Deep Down, Inc. (DPDW:$0.065,0$-0.010,0-13.33%)


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