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dayrate info:
interesting stuff. note in this rigzone data there are only 38 drillships, and only 28 drillships capable of 4000'+ water depth.
http://rigzone.com/data/dayrates/
and, while that number seems pretty low, i thought it might be actually lower.
Well, it's always nice to hear how much better some of us are doing than others. Boy, that never gets tiring. lol;)
Here's a post entitled "my thoughts from the visit" from "trying to retire's" visit to DPDW in April or May 2007. It is an early glimpse, and it dovetails nicely with Tradeswapper's later visit post. For all the naysayers and their ridiculous postings questioning the substance (or even more ridiculously, the existence) of what the company is doing, this is some excellent first-hand early refutation (is that a word? lol) of that BS. DDI is even stronger today, 10 months later. Interesting to see they were talking of AHC, even back then. And really, that wasn't long ago at all. The speed of the development is amazing.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=19411768
ummm, i wasn't clear. i meant that it would be impressive if all 3 physical facilities could be shown side by side or on top of each other. surely someone with much more computer savvy than me could crop the DDI pic and make it the same size as the mako one??? it would be neat if you could see the pics displayed in the ibox like the mako one is currently. it would be an impressive show of our physical plants, solid evidence of the very tangible property we all own as shareholders. jmho. just a suggestion to make your (our) board even more impressive.
Mako aerial pic is a nice addition to the ibox. Don't we have an aerial of DDI you can put in there? Do we have one of EW? That would all be impressive.
Where did they come from, and with those shares???? They were the former owners of the shell company (Mediquip) and they received stock as payment in a reverse merger to acquire the publicly traded company we now own. You can learn alot from the ibox, thanks to all of Brikk's great work.
I think they were restricted until October. If I'm wrong on that, someone please jump in and correct me. Anyway, that explains a large part of the run down we've had since then. This has been public record for awhile.
Sage, the photo of the blue LARS/ROV matches up favorable with the one I took. In their pic, it appears to be located on the south side of the main building at the very end (east) of that structure, which is open walled but covered in the very back. If that is a LARS I see in their photo, it appears to be positioned closer to the mid-point of the building, rather than the rear. Mako has 3 of them I think, so it's entirely possible that our photos are of different units at different times.
Brikk, you might cue the Mako pics for comparion, if you feel like it buddy;)
Sage, the aerial shot is of Mako. You can see some of the stuff from my pics in it, like the equipment lined up along the back (east) fence along the willow tree line (north is left in the photo). I believe the 3 aluminum pieces in the middle on that fence line are diving air compressors. You can also see some stuff that I couldn't adequately capture, like the 2 other large buildings to the north. Immediately south diagonally across the highway (not shown) is the intracoastal canal that traverses south louisiana only a few miles north of the GOM. Along the south fence line you can see a large moveable crane. To the north of the crane adjacent to the main building is where the LARS/rover was that I snapped, and it appears as though it may be this aerial shot, too. I don't see the assembled sat system in the pic, but that may be a decompression chamber down in the right lower (southwest) corner of the yard in front of the crane. Private Mako Lane appears in the lower mid pic, running northwest to join U.S. Hwy. 90. As you can tell, Mako's facilities are very large and were once a pipe yard, and they have the capacity to expand to the huge developed pipe yard area ground to the southeast, as well as the green vacant land to the west toward the highway (which is probably 4-5 acres). I did not get a chance to go into the 2 large buildings to the north, nor the 2 smaller ones to the northeast, so maybe your dream of finding testing chambers and pools there are technically still alive. They certainly have room to add some if they ever have a hankering to. Great DD sage.
That's what we've been missing!! Gap talk!! Now we'll surely move up! What took you so long?!;)
We are all tired of the MMM talk. However, can we be sure that this info squelches it? I mean, isn't it possible that those shares were sold in a block to an MM, who is now free to play them how ever he wants?
well, that's some much needed good news. thanks for the dd;)
chev, how confident are you that all the old mediquip directors are done? i think you touched on that earlier, but could you explain again your confidence in that, if you don't mind? also, folks should be aware of the distinction between that group and former insiders of the current company. their shares are finite too, and hopefully they'll be in the past too.
As a wise poster said here recently (maybe Joe?), this is a flipper's discounted way of doing DD. You can learn alot from an angry bull;)
Rhino, you were close in your prediction of a full point cut. .75 aint too shabby;)
Which is a damn sight better than 99% of stocks did today.
I love the timing;) They don't pump;)
Press Release Source: Deep Down, Inc. (just to keep it front and center)
ElectroWave Appoints Lieutenant Commander Gregory Boucher President of ElectroWave
Tuesday January 22, 3:21 pm ET
HOUSTON, Jan. 22 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that Lieutenant Commander Gregory Boucher (retired, USN) has been appointed President of ElectroWave USA, Inc. (subsidiary), effective immediately. Mr. Boucher joined ElectroWave on October 25, 2007. Mr. Boucher brings a wealth of military and marine experience, expertise, and contacts to ElectroWave. His primary focus will be on managing the growing number of commercial and government clientele including energy related companies, major shipyards, the U.S. Navy, and the U.S. Coast Guard, and certain product development projects. ElectroWave is keenly focused on expanding its existing customer base and markets.
Lt. Cmdr. Boucher has served in numerous positions of responsibility including deck department, combat systems, and operations over his 23 years of Naval Service. In his most recent command, Lieutenant Commander Boucher served as Executive Officer of the Navy Operational Support Center in San Antonio, Texas. He is distinguished in his highly decorated Naval career, having been promoted from the enlisted ranks to Surface Warfare Officer. He has served in numerous key positions ranging from officer-of-the-deck, tactical action officer, and engineering officer of the watch, to force protection.
Martin Kershman, who has served as President of ElectroWave for eight years, will be leaving for personal reasons. He will continue to serve as a consultant to ElectroWave in further developing and implementing its marketing and sales strategies. "We appreciate Mr. Kershman's past contributions to ElectroWave and wish him the best in his personal endeavors," commented Ronald E. Smith, Deep Down's President and CEO. "We are equally impressed with Greg Boucher's capabilities and are excited about the possibilities his stewardship will bring to ElectroWave."
"Deep Down and each of its subsidiaries continue to seek complementary acquisitions to complement and expand their respective service and product capabilities," added Robert E. Chamberlain, Jr., Deep Down's Chairman and Chief Acquisitions Officer (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 retrieval 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.
The Company's ElectroWave 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.
The Company's Mako 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.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com.
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.
--------------------------------------------------------------------------------
Source: Deep Down, Inc.
Tech, you're right, we have not seen the volume indicator yet. That's what we should all be looking out for. Because Doog is also right: this is exactly the environment they buy in. Let the swooping in begin;) Yes, I'll be crying if we sink, but I'll be LMFAO if we rise;)
And, whatever happens going forward short term (like whatever happens tomorrow lol), it will not change the work that DDI has been putting in the hopper. It bears repeating that we've been holding up rather well over these past few weeks when the market has lost close to 20%. Yes, I know we've lost alot from our highs too, but most of that occured prior to the broader downturn. That is noteworthy. Not many stocks can claim that. If the market does sour even more, there will be smart money guys looking to park some money in a good hedge spot, at least temporarily. And I think (yes hope) news of DDI's contracts will begin to flow, and some more smart money finds its way here. That's my plan, and I'm sticking to it. It's better than playing with all the other kinds of fire out there that will tempt folks in a broader downswing, imho.
Rhino, I don't think the fed cut will be as big as 100 basis points. I could be wrong though. A cut that big that quick would likely raise inflationary pressure risks too much. I just don't think the overall conventional wisdom thinks the U.S. economy is that bad off. Yes, a pullback hurts. A recession would suck too. But I hate to say it, sometimes a haircut is just a necessity. All that pales to what runaway inflation could do to the economy, and I don't think they are at that panic point yet. Traders may be. But stocks are only one piece of the puzzle, and I don't think they are going to pull out all the stops just to save arguably overheated stocks. Having said that, I'll be wincing if we go down much. All you flippers and TA guys can go ahead and pat yourselves on the back if you followed your own advice if that happens. Me, I aint selling. And I'll be taking solace in the only place I can: the knowledge that those smart or lucky enough to get those cheap shares won't be getting any of mine, no matter how comparatively expensive they are.
great job, doog. thanks for connecting the dots.
Well, you know if the military is the biggest buyer, the price is probably inflated compared to the business market. That might put it in the $1.5 million area for commercial apps? Heck, our 4000m lars sells for $1.4 million minimum. So we are talking about equipment within our realm of rental candidate offerings and possibilities. However, our lars units are comparitively much cheaper for us, since we do build them ourselves. At any rate, it is probable that Mako will be expanding its future big-ticket rental offerings. I wonder if they've considered AUV's as a possible addition to their "fleet" so to speak. I'm sure if a lucrative market is there, they are thinking about it. The stuff we already have and know about is exciting enough;)
i know this is kinda OT, so please forgive me brikk, but i wonder how much this would cost:
http://www.km.kongsberg.com/KS/WEB/NOKBG0240.nsf/AllWeb/B3F87A63D8E419E5C1256A68004E946C?OpenDocument
seems like it would be right at home being a Mako rental!
nice find 4mars. very good to see we basically made a feature item in a publication, even if it does simply track the pr. it's the placement! ;)
seems like that might be an excellent future acquisition possibility. i say we sew up every last corner of the deepwater service industry! lol;)
great stuff again, sage. thank you. btw, i thought they were called AOVs, not AUVs?? i wonder if ddi is planning on manufacturing any LARS systems for AUVs? not that they need to. the market for ROVs is booming and will be for quite some time. and ROVs can do things AUVs can't. still, seems like there's another potential market niche there. i wonder if AUVs even use a LARS, or if they are just sent from the surface. oh i wonder wonder wonder;) thanks again buddy.
jd, when's the next joides update, devil dog?
Brikk, you may be right, it may not be that calculated. Just a theory. But you know what? I hope it is that calculated. IMO, no one has a better handle on all the former insiders and the shares they hold than mgmt. Someone recently posted a query about whether the pps will recover in time for the next round of selling. I think mgmt is keenly aware of this concern. And, fwiw, I don't think there is too much left for the former guys to sell. Didn't I see something here recently showing one of them sold about 900k shares? I have to also assume that guy was leaking shares out during the big october run up and down. In summary, I think they know who's got what left and for lack of a better label, it's a mini game of chicken between mgmt and them at the moment. Time is on our side, for the patient folks. The most comforting thing of all is the size of the stake mgmt has in this game. I don't think they are going to waste news or profits on the dumpers, regardless of whether the dumpers are individuals or MMs. The second most comforting thing is that this whole issue is secondary and takes a back seat to the real business they are doing. And because of that, we all stand to profit, even the former guys. As you said, they will continue business as usual. I just think they are also going to do what any rational people would do, and act with an eye towards their best self-interest. They have a plan for everything, but sometimes adjustments must be made to deal with present realities. And that's good news for those of us who share those interests.
And mngmt is probably wanting them to shoot their wad now before one pr HAS to come out: the next Q. Because I'm thinking that will be quite bullish.
yes, and i agree with you that it may be more MM driven, if the former insiders have sold them blocks to play with.
Just a few thoughts here, not corroborated at all. But perhaps the recent lack of news here has something to do with the company knowing the former insiders are dumping into the face of each PR and taking all the steam out of them. I'm sure mngmt is concerned about both the current pps and the former insiders' liquidation, and its probably something they are trying to figure out how to juggle. They may not want to reward the dumpers with news that boosts the pps, only to have them profit. They may figure that is not fair to rest of us (and more importantly, fair to themselves). They may prefer to let all this wash out down here, saving the best for those of us who will stand with them for the long run. The bright side of that theory is we can all use this period to accumulate more (if any of us have any powder left;) Since there is absolutely nothing wrong with any of the fundamentals here, that seems to be one of many plausible explanations. It's not a bearish thing, and is even quite bullish if you think about it with a long view. Just a thought. Take it with a big grain of salt.
Not 100% sure, but I think Mako Lane is really a private drive, hence the reason it may not show up on the maps.
That was one of the points I was trying (and failing miserably) to make last night regarding the PRs. PR or no PR, and regardless of PPS and whether anybody is selling the stock, DDI is putting contracts on the books and they are making serious money, with us or without us. Can't say that about just any otc co. If traders decide to go elsewhere, others will take their place and happily make that money in due time. Think most of us are going to hang around;)
nice dd, sage. thanks.
doog, great post man, regardless of whatever number of employees you find out mako has. i was thinking they had half that, maybe a bit more. but i agree, they are growing. let us know what you find, and thanks again.
mk
definitely.
It's ok. We're all feeling a bit frustrated lately. Have a good night. Tomorrow is another great day to be alive.