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You will never see the comments until after the process is finished.
SEC will notify DPDW when it is finished.
SEC will publish paper filing "EFFECT" when it is finished.
Sec will then publish paper filing "CORRESPONDENCE" when it is finished. (within or after 45 days, not sure on that)
You can then read the comments.
Those proposals are very onerous to the small producers, royalty owners (the land owner down the road from you and me) and shareholders of many drilling and production corporations.
Many of those deductions are pass through deductions to individuals, the ones that aren't will be passed through in higher energy costs. This looks like the end of any new drilling
on land for the marginal oil and gas wells, probably 85%
of wells drilled recently in the US are considered marginal or enhanced.
I don't see it affecting offshore wells too much except through the higher costs of the excise taxes and $4/acre fee on Gulf leases designated as non-producing. These higher costs will be passed through to the consumer of course. We knew that was coming.
Thanks for that 'the cork', your other point in the post is well
made and well said.
With the time change, does anyone know how Houston time compares to EST now? It's 10:25 EST Sunday, no workers in the Fab shop today, just wondering what time it is local.
TIA
Edit I just noticed my cell phone has not updated to the correct time, It actually is (was) 11:25 EST -my bad
"> To those of you with "special access" to Steve, ask him to release the facts concerning the Private placement.<"
By "special access" do you mean those here who bother to email him, or is there some innuendo I am missing?
"release the facts concerning the Private placement"
What facts are you referring to here?
fact- The PP is posted on the SEC site for all to see.
fact- The company has announced they would inform shareholders
when it becomes effective.
btw your chart only covers half the period Steve worked for VirTra, 9 years is hardly "in no time"
Insiders usually do not buy on the 1st and 3rd months of each quarter, the 2nd month is considered safest to prevent running afoul of the laws. That leaves only 4 months a year when they can buy.
Do you happen to know if insiders are allowed to buy during
share offerings or registrations? Quiet periods?
I tried to find out but didn't have much luck.
In June 2008, Deepwater Corrosion Services working in conjunction with Deep Down Inc and Oceaneering Inc performed a cathodic protection (CP) retrofit of a fixed platform in two days. This Gulf of Mexico platform is a large 4-leg, 8-skirt pile fixed jacket, located in 720 feet of seawater. The retrofitted CP system consists of 2 RetroBuoys (impressed current anode sleds) deployed on the seabed 150 to 400 feet outboard of the base of the jacket. Double-armored power cables (1,200 feet long), connect each RetroBuoy to a topside marine transformer-rectifier rated at 450 Amps, The cable is routed across the seabed and through a spare 12 in. J-tube.
Installation Equipment - The installation was carried out aboard Oceaneering’s 315’ X 59’ Dynamically Positioned Intervention Vessel, The Performer. Deep Down managed the RetroBuoy installation utilizing hydraulic Horizontal Drive Units (HDUs) and Reels. Deep Down also supplied various installation hardware including: a combination cable pulling head/armor termination body, custom junction box and a spreader bar for simultaneous RetroBuoy deployment. This installation hardware combined with project management and planning was the key to an efficient, safe deployment.
Description of Installation - Each RetroBuoy was mounted atop a horizontal reel (2 total). With the RetroBuoy secured, the reel is rotated to spool the power cable. The end of each RetroBuoy’s cable was capped with a “bull nose” pulling head. Prior to the cable pull, the J-tube was drifted with a dummy pulling head to ensure there was no major blockage; this also confirmed the actual pulling head would proceed without interference. For deployment, both pulling heads were bolted together thereby requiring only one pull. A wire from a platform-mounted tugger was routed down and out the J-tube and connected to the RetroBuoy pulling head aboard the vessel. (In essence, the platform was directly connected to the dynamically positioned vessel.) As the HDUs payed out power cable, the platform tugger payed out wire-rope until the pulling head emerged from the top of the J-tube. Concurrently, the ROV is stationed at the seabed to monitor the cable touchdown area and J-Tube entry. The pulling head was secured at the top of the J-tube by the platform crew.
Both RetroBuoys were overboarded simultaneously, utilizing a spreader bar, and lowered to the Target Box #1 on the seabed. RetroBuoy #1 was released from rigging. The vessel then lifted RetroBuoy #2 approximately 100 feet above the seabed and used DP to move around the structure to Target Box #2. RetroBuoy #2 was then lowered and de-rigged. This concluded subsea operations. The entire subsea installation was accomplished in less than 19 hours.
http://stoprust.com/prb1.htm
www.stoprust.com
RetroBuoys assembled at Deep Down #msg-30583868
Looks good, thanks Sage.
Links and photo added e/m
Are companies even allowed to make and post their own EPS numbers?
I somehow don't see DPDW posting that on Yahoo or anywhere else.
I would so like to get a photo of the trucks from Flotation Technologies lined up 20 or 30 deep waiting to unload those drilling risers onboard a supply ship! That would make my day.
It took three trucks to ship it. The one pictured, one for the other half, and the Veolia truck that got the yellow rails and other parts. Huge day for Deep Down, there will be more.
Today at two locations DPDW is building either sled bottoms, or
frames for underneath those portable units along the fence. I think there are about 5 or 6 of those steel frames so far.
This is the photo of when she went out through the gate and fence(taken down) at Deep down. more photos in the replies
linked below
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=28451382
Great post dffhogs! Here is more info on the ship.
VIKING POSEIDON DELIVERED
Viking Poseidon left Ulsteinvik to be fitted out with a 250-tonne offshore crane just before Christmas. Tuesday 13 January the vessel was delivered to Eidesvik Offshore.
- The shipowning company is already very enthusiastic about the vessel, and they have great expectations for the ship. We took her around Stadt, a very rough sea area along the Norwegian coast, and the wind reached hurricane strength. The vessel is very good in rough conditions, says Ulstein Verft sea trial captain and manager for the aftermarket department Frank Strandebø.
The hurricane made waves to around 12 meteres, and the vessel showed great seakeeping qualities.
- We hardly noticed the rough sea. We really got to confirm that the ULSTEIN X-BOW® functions according to its intentions, says Strandebø.
Operations in Mexico
Viking Poseidon is signed up for a long-term contract with Veolia ES Special Services Inc. (USA). The ship will be a base for advanced ROV vehicles that will inspect and repair offshore installations in the Gulf of Mexico. The contract is for eight years with options.
Modern construction vessel
Viking Poseidon is 130 metres long and 25 metres wide with a deck area of approx 1500 m2. She will be fitted out for 106 persons and will, amongst other things, be equipped with a ROV garage, helideck and a diesel electric propulsion system.
http://www.ulsteingroup.com/Kunder/ulstein/cms66.nsf/pages/newslista.htm?open&disp_key=4BF43F430FC5182AC125753D005222CC
Viking Poseidon aka Orange Giant at Galveston tinyurl.com/bjjsgv
Viking Poseidon is 130 metres long and 25 metres wide with a deck area of approx 1500 m2. She is fitted out for 106 persons and will, amongst other things, be equipped with a ROV garage, helideck and a diesel electric propulsion system. Main activities: Sub-sea construction and equipment installation, Inspection, maintenance and repair, ROV services.
http://www.flickr.com/photos/halco/3313648619/page2/
Thanks for that Ichimoku, Ichimoku
It's nice to see some charts here again.
Subsea Tieback Forum and Exhibition
I noticed Deep Down and Flotation Technologies each had
their own separate booths this year. Full court press.
"PennWell invites you back to the 9th annual Subsea Tieback Forum & Exhibition. SSTB has become the premier event for one of the fastest growing sectors of the offshore oil and gas industry. This year’s SSTB is scheduled for March 3 – 5, 2009 in San Antonio, TX at the Henry B. Gonzalez Convention Center. Over 2,500 people and 150 exhibitors are expected at next year’s conference. You can’t afford to miss it.
This year’s theme is “The Deepest Show On Earth.”
http://stf09.events.pennnet.com/fl/
Just to be perfectly clear about my post,
these two sections in bold are direct quotes:
Quote
"I have said this many times, we have the strongest subsector in the oil and gas industry and we are growing year-over-year."
"I am truly perplexed why some don't want to hear the truth about our operations, our market, our growth. Isn't an undervalued, nearly debt-free company, growing triple-digits year-over-year, in the hottest subsector, during a downturn in the rest of the economy, just what investors look for? Just a question"
============== end quote ============
This part of the linked message is in my own words:
Thanks for posting that bliz82. Subsea7 really said that in their annual report? That sounds a lot like something an Investor spokesperson at Deep down said just today!
And this part too is in my own words
Any questions? ==>
(I figured here that there would be questions for IR,
questions nobody here can answer, and felt I should "point" the readers in the right direction)
This part was added by me for your convenience,
and was also meant to highlight the new address.
ir@deepdowninc.com
8827 W. Sam Houston Pkwy N.
Suite 100
Houston, TX 77040
Office: 281-517-5000
Fax: 281-517-5001
palacian,
It is so easy to become overwhelmed by all
the pessimism in the market and be swept away
by the negativism in the economy. Nothing I can do
to change any of that 'cept buy a vehicle and do
some shopping.
Speaking of shopping, I have been buying some shares
of Deep Down last week and will again this week.
All the message board noise aside, at this level
I consider my buys an opportunity.
We have this one:
"Regarding a "fault" contingency, that is certainly an erroneous claim. The Company has always disclosed succinctly that we "will continue to accrue such liability until the Registration Statement for such shares is declared effective;" I have not seen in any of these documents a "fault" clause. Please refer to the filing excerpt below...
It is true, however, that the Company timely filed, and has so far been waiting for the SEC's final approval. Management is well prepared for this contingency, and we all must wait to see the final outcome."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33857315
And the original
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33608253
Sometimes he can be quite straightforward and unequivocal..
"Management has stated they will announce to all once the statement becomes effective. So, until you hear this from the company, I would not assume or infer anything."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32543958
Odinepinetree reports there is a conference room
in the new office. Perhaps that Investor spokesperson
and management can have some meetings on a regular basis to work on all these perplexing questions and maybe even help those "perplexed shareholders" with some answers.
Thanks for posting that bliz82. Subsea7 really said that in their annual report? That sounds a lot like something an Investor spokesperson at Deep down said just today!
Quote
"I have said this many times, we have the strongest subsector in the oil and gas industry and we are growing year-over-year."
"I am truly perplexed why some don't want to hear the truth about our operations, our market, our growth. Isn't an undervalued, nearly debt-free company, growing triple-digits year-over-year, in the hottest subsector, during a downturn in the rest of the economy, just what investors look for? Just a question"
Any questions? ==>
ir@deepdowninc.com
8827 W. Sam Houston Pkwy N.
Suite 100
Houston, TX 77040
Office: 281-517-5000
Fax: 281-517-5001
DPDW has worked for/with Subsea 7 in the past.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=25987133
I don't see any particular linkage with the posted news, but perhaps some service or installation work will come out of it,
although those type (small) jobs seldom get any press from Deep Down.
- As a courtesy to other readers, please indicate the relevance to DPDW (the subject stock) if DPDW is not mentioned by name in the news. Please include a link if possible. -iBox -
In the 2005 rules, the commission makes a distinction between different classes of issuers. In your example of what DPDW should be saying, you use for your example GE. There is a big difference between GE and DPDW as far as these new rules go.
Bottom line is imo you are comparing apples to potatoes, and I think much of your(our) angst is misplaced and misdirected.
Link to doc included, as I might have this completely wrong,
I suggest everyone should do the DD to their own comfort level.
"For purposes of the rules we are adopting today, we categorize issuers into tiers,
consisting of non-reporting issuers, unseasoned issuers, seasoned issuers, and well-known
seasoned issuers."
"3. Unseasoned Issuers and Non-Reporting Issuers
a. Overview
We are adopting as proposed procedural changes that will affect reporting issuers
that are not seasoned issuers."
I can't interpret this document for you, but there are a number of phrases that are of interest, such as the following.
"1. Definition of Well-Known Seasoned Issuer
We are adding a new category of issuer – a “well-known seasoned issuer” – that
will be permitted to benefit to the greatest degree from the modifications to our rules we
are adopting today regarding communications and the registration processes."
Definition of Well-Known Seasoned Issuer continued..
"as of a date within 60 days of its eligibility determination date must have a
worldwide market value of its outstanding voting and non-voting common
equity held by non-affiliates of $700 million or more; or
as of a date within 60 days of its eligibility determination date, must have
issued in the last three years, at least $1 billion aggregate principal amount of
non-convertible securities, other than common equity,43 in primary offerings
for cash, not exchange, registered under the Securities Act;"
"(F) Immediate Effectiveness
Under the automatic shelf registration statement rules we are adopting today, all
automatic shelf registration statements and post-effective amendments thereto will
become effective immediately upon filing"..
"In particular, with
immediate effectiveness, well-known seasoned issuers will not be subject to the
possibility that effectiveness of a Securities Act registration statement could be delayed
while comments are being resolved."
"The rules address the registration
procedures for seasoned and unseasoned issuers. These rules include:
~
• a more flexible automatic registration process for well-known seasoned issuers,
including immediate effectiveness and pay-as-you-go registration fee payment"
http://www.sec.gov/rules/final/33-8591.pdf
DDI North camera is operating today,
3 welders are fabricating
some steel pieces.
I would counter with "the quiet period is not a lie",
just look at the trouble Google got into with their interview.
That could have been a whole lot worse. Links enclosed.
“The quiet period forces companies to live in a state of lawyerly paranoia. "Less is more in this case. To say nothing is better,"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31259101
Nice post sandvet. Maybe if I sticky this post
we can get to the bottom sooner.
I hope management has some strong oars as they single-handedly
row up this raging waterfall of thunderous crashing global economies. If they can out-manage every other CEO in the S&P,
NYSE, Naz and world markets, they will have to be replaced
when they run for the world presidential office.
So, would you counsel them to lay off half the workforce up in Maine, and reduce the staffing in Houston because their expansion of sales might be slashed by the tough times in many other completely different sectors? I don't buy that for an instant.
"the same way they have paid for everything else , thus far...selling shares. "
You forgot the revenues there, as expenses are paid out of revenues first, then you are left with a profit or loss.
In the capital markets, most companies expand by raising capital thru stock offerings etc, that is how the system works.
The point here is they have revenues "we have more than quadrupled our annual revenues since then" to pay expenses, and
stock offerings to grow the copmany.
Yup, an engineer and a half. The way I see it, they had enough engineers to market their products.
They just needed an office...
#msg-19414657
Somebody needs to tell Deep Down there is a recession on and they should participate.
Maybe because they didn't squander the money on a corporate jet,
and other CEO toys,
they now have some cash to do business with.
Go Deep!
I saw quite a bit available for $14.00 sqf/yr
So they might be paying what it would cost to hire 1 or 2 engineers per yr.
http://www.cityfeet.com/CommercialRealEstateForLease/Results.aspx?PartnerPath=NorthwestHoustonCommercialRealEstateLocal/&ListingCategoryId=1&PropertyType=1&SizeMin=0&SizeMax=1000000000000&RentMin=0&RentMax=1000000000000&GeoId=705
Wrong time because of the economy in general or wrong time for
Deep Down specifically?
I wonder if "Marine Automation Services" is just Electrowave or if there might be more to that operation at some time?
Contact numbers for Deep Down's various operations are:
Facility Location Phone
Corporate Headquarters Houston, Texas (281) 517-5000
Subsea Service & Technology Channelview, Texas (281) 869-2201
Marine Automation Services Channelview, Texas (713) 896-7799
Buoyancy Services Biddeford, Maine (207) 282-7749
ROV & Equipment Rental Services Morgan City, Louisiana (985) 385-7817
I guess this PR explains the U-Haul truck that had some boxes of files or papers, in the front lot Monday.
I noticed in the street view there is a nice new plaza going in at that location (not sure of the date).
This location should improve their image when dealing with clients and visitors.
Not everyone wants mud on their $400 shoes.
Did you try the link in the iBox?
Here's a picture from yesterday.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35858679
Let's say I bought 2 million of the pp shares @.70
$1,400,000
I shorted 500k @ .69 = $345,000
I short another 500k @.50 = $250,000
Another 500k @ .30 = $150,000
Then let's pretend I am that seller at .11
500k @ .11 = $55,000
So I have received $800,000 cash for my shares
and will cover with my pp shares costing me $1,400,000
I must be a rather dumb crook because I think I just lost
$600,000. Am I missing something?
If you feel it (shorting or NSS) might be happening to dpdw then by all means
discuss it. I just want to keep the focus on the stock or company of Deep Down, and if there are shorters, or might be, then that is a fair discussion.
http://investorshub.advfn.com/boards/board.aspx?board_id=4887
http://investorshub.advfn.com/boards/board.aspx?board_id=3319
http://investorshub.advfn.com/boards/board.aspx?board_id=11942
"They and a couple of big buyers own the entire float and have submitted the 13G's to prove it. Now it's just a waiting game to see when the NSS are forced to cover hundreds of millions of shares in a float where no shares remain."
"Sorry for the digression. But I would LOVE to see the same scenario unfold here with DPDW."
-------------------------------------------------------
If you can make the case for DPDW having naked short sellers involved, or even plain short sellers, then by all means go for it. Bring on any evidence that you might find, but please keep it specific to and about DPDW.
We had that general discussion about NSS, DTC, testimony before congress, etc about a year ago. Most of it was so Off Topic and unrelated to DPDW that the messages did Not meet the criteria of this discussion board.
Let me repost your links for the free members of Ihub.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29807687
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33756956
http://www.sec.gov/Archives/edgar/data/1110607/000101968708003131/deepdown_s1.htm
When you post a link that is a result of a paid member search,
(example find=registration or find=private) it takes you to the search results which will not display to free accounts.
What I do is hit Next then Previous and it gives you the link to the actual post. hth
Welcome to the board mjc 1.
Agree Spec. When you get the answer you are looking for,
stop asking the question.
"She then went on to promise me, that she was going to personally look into the situation and see if there was anything that could be done to expedite things along.