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Thanks! You guys have been busy on the board tonight. I step away for 3 minutes to call my bro and bam, a flood of messages.
The new website is fantastic. I hated looking at the last site and not being able to put a picture to the different products. Tonight, all of that has changed.
Lovin' the sticker!
Let's hope that tomorrow will see some more positive gains and push us out of this downtrend.
-faz
Actually the IR link on the main page is down.
However, if you click on it from another page, you get it.
http://www.deepdowninc.com/WebPages/HmInvRel.html
sweet!
EDIT: I think they are actually loading this site to the servers right now. the IR link on the main page now works!
-faz
LOL!!!!
No worries. Looks like a good site with lots of info. They don't have the IR link up yet though.
"Established with the "Get it Done!" attitude of the company's founder, Ron Smith, Deep Down Inc. places it's customers first. Our customers are the reason for our business. They are the most important part of our day and are the purpose of our work."
-faz
Also, Deep Down has a new version of their website up. A lot different than before.
http://www.deepdowninc.com/
-faz
I intend to hold a lot longer than that! LOL!
-faz
Thank Clay! Excellent video chart. I really enjoy your site.
-faz
Guess that is all DRCO wanted to unload...2 left on the ask at 0.58!
-faz
DRCO on the ASK!!!
.58 prinitng!
-faz
Here is what I was able to dig up...
http://www.gulfoilandgas.com/webpro1/main/mainnews.asp?id=3539
Aramco Says Manifa Project to Begin 1Q 2007
Source: www.gulfoilandgas.com 9/30/2006, Location: Middle East
Offshore/Onshore Construction
Saudi Aramco is on schedule to begin construction of its massive, 900,000 barrel-per-day Manifa Arabian Heavy crude oil field development during the first quarter of 2007. The lump-sum turnkey contract for 41 km of causeway is already out for bid, with the award of the contract expected by year-end.
The causeway is the critical first step for this project, as a significant number of the Manifa development's wells are in shallow offshore areas that are not conducive to the traditional use of ocean vessels to set up the jackets and platforms.
The causeway will consist of a 21-km main artery, plus another 20 km of offshoots that lead to 27 shallow-water drilling islands. The Manifa development also includes onshore oil and gas facilities as well as deeper-water offshore drilling facilities.
According to Ali A. Al-Ajmi, Saudi Aramco vice president of Project Management, the project is on track for its mid-2011 completion. "Management of mega-projects like these is a core competency of Saudi Aramco, and we are absolutely committed to meeting the world's energy needs by completing the Manifa development on time and within the approved budget," he said. "We've never made a development commitment that we haven't accomplished, and we're very proud of that.
"In addition to the crude oil, the project will produce 120 million standard cubic feet per day of associated gas, which will be sent to Saudi Aramco's Khursaniyah Gas Plant for processing.
Bidding for the front-end engineering and design (FEED) contract of the onshore portion of the program closed on Sept. 26, and the company expects to award that contract toward the end of October. Front-end engineering is expected to begin early November, with completion expected in the fourth quarter of 2007.
The offshore lump-sum bid packages are expected to be awarded in early 2007, "and we've already placed orders for some of the long-lead items," Al-Ajmi noted.
Manifa Project Component Highlights:
1. Central processing facility
Primary GOSP
Utility and water supply plants
2. Water injection facility (1.74 million bpd)
3. Offshore platforms (jackets, platforms, electric submersible pumps)
4. Offshore crude/water injection (trunk lines, flow lines, electrical cables)
5. Downstream pipelines (to Khursaniyah Gas Plant and Ras Tanura/Ju'aymah terminals)
6. Gas facilities upgrade at Khursaniyah Gas Plant (to accommodate additional gas flow from Manifa)
7. Causeway
Sector Snap: Oil Service Shares Advance
Thursday February 28, 12:14 pm ET
http://biz.yahoo.com/ap/080228/oil_services_sector_snap.html?.v=1
Oilfield Service Shares Rise As Crude Returns Above $100; Halliburton Among Sector's Gainers
NEW YORK (AP) -- Shares of oil service providers rose Thursday as crude prices moved back above $100 a barrel.
The Philadelphia Oil Service Sector Index, a basket of oilfield service contractors and drill rig operators, increased 1.5 percent to 290.54. Broader indicators fell, with the Dow Jones industrial average sinking 1.2 percent to 12,552.79.
Oil prices rebounded from the previous day's sell-off as a weak dollar and concerns about inflation enticed investors to sock their money in the commodity. Light, sweet crude for April delivery rose $1.13 to $100.77 a barrel on the New York Mercantile Exchange.
Halliburton Co. was one of the sector's biggest gainers after RBC Capital Markets analyst Kurt Hallead said "industry sources have confirmed" that it and Schlumberger Ltd. have won much-sought-after contracts to carry out work on Saudi Arabia's huge Manifa project, an offshore heavy crude development.
Hallead said the size of the award remains unclear but is likely between $500 million and $1 billion. He estimates Schlumberger will receive about 60 percent of the work, with Halliburton capturing the rest.
Halliburton shares rose $1.13, or 3 percent, to $38.59. Schlumberger shares increased 88 cents to $89.13.
The two companies' gain would be rival Baker Hughes Inc.'s loss, however.
"Investors are likely to read this as in incremental negative to BHI's already lower than peer international growth expectations," Hallead wrote in a note to investors.
Baker Hughes shares fell 25 cents to $69.74.
Very true! I am very encouraged by the nice steady climb. I certainly would be happy if we could do away with all the dramatic price fluctuations. Slow and steady = all good!
-faz
blue,
yeah, that all happened in a flurry of activity. There was a quick burst of downward action. I thought it was a sell when I first saw it. I am just happy to see someone buying up 62,000 shares at once.
-faz
Looks like a buy to me.
http://ih.advfn.com/p.php?pid=trades&btn=s_ok&s_symbol_select=AMEX:NXG&symbol=dpdw&s_ok=OK&newdate=0&newsym=1&minimise=&java_vm=sun&fp=9.0.45
bid was .50
ask was .525
-faz
Closed and upcoming transactions!!!
http://independentcapitalcreditcorp.com/id2.html
Small Hotel I - $808,000 Status: Closed February 22, 2008
Office Building I - $10,307,000 Status: Closed February 26, 2008
Hotel Resort II - $400,000,000 Status: Financing has been Arranged
Under Initial Review and Analysis
Apartment Building I - $20,000,000
Apartment Building II - $5,000,000
Strip Shopping Center I - $10,000,000
-faz
Setting up for a strong close.
Nice to see the green!
The democratic controlled congress is off the rails now. Who the hell do they think they are? Why are they not doing productive things like passing the new FISA legislation? What a bunch of freaking morons the democrats are as well as any republicans who think this is a good idea.
Congress will ask Justice to investigate Clemens
7-time Cy Young winner suspected of lying under oath to House committee
http://nbcsports.msnbc.com/id/23342772/site/21683474/
...snip...
WASHINGTON - Roger Clemens’ denial of steroid use warrants further investigation, Congress said Wednesday in asking the Justice Department to determine whether the star pitcher lied under oath in testimony to a House committee.
House Oversight and Government Reform Committee chairman Henry Waxman and ranking Republican Tom Davis sent a letter to Attorney General Michael Mukasey, urging more scrutiny of Clemens’ statements in a Feb. 5 sworn deposition and at a Feb. 13 public hearing where he said he “never used anabolic steroids or human growth hormone.”
“That testimony is directly contradicted by the sworn testimony of Brian McNamee, who testified that he personally injected Mr. Clemens with anabolic steroids and human growth hormone,” the congressmen wrote."
Indeed. Hopefully the equipment that we DDI has sold to SLB will encourage them to take a closer look at how to gain exposure to the deepwater market.
-faz
Correct. The subsea industry does not have a huge blockbuster type of company yet. I believe an explanation for this is that deepwater was not practical 10 years ago. Now, with technology growing rapidly and the fact that reserves are becoming harder and harder to find, I think there is huge potential.
I now from working on the rigs in the UK from 2001-2006 that Subsea7 was a division of Haliburton until 2005 or 2006 I think. They then sold it off.
To be honest, I think that DPDW would be an ideal take over target for Schlumberger now that they are getting more and more into integrated project management with national oil companies.
Just my thoughts.
-faz
Some other LARS manufactuers/suppliers:
The MacArtney Group: The MacArtney Group supplies products and engineering solutions to the worldwide Underwater Technology Market.
http://www.macartney.com/
All Oceans:All Oceans Engineering Limited was established in December 1985 by the owner and Managing Director, Brian Abel. The business was built on the provision of specialist engineering services to the diving and underwater industries. In 1988 the service was expanded to include ROV, underwater construction, and general marine industry support.
http://www.alloceans.co.uk/news_events.html
Some ROV manufacturers:
http://www.rovexchange.com/mc_company_listings.php?business_categ=2
Advanced Subsea sas - specialized in deepwater subsea construction support & services
www.advanced-subsea.com
Canyon Offshore - underwater remote intervention, ROV and suction anchors
www.canyonrov.com
Coflexip, SA - piping fabrication and construction and ROV installation of flowline
www.coflexip.fr
Deep Marine Technology - platform inspection and repair, or for drilling and construction support
www.deepsubs.com
Helix Energy Solutions Group, Inc. - marginal field development, alternative development plans, field life extension, and abandonment
www.helixesg.com
SeaView Systems - underwater inspection services and the full range of Seaeye remotely operated vehicle products.
www.seaviewsystems.com
Sonsub - remotely operated vehicles ROV and tooling systems
www.sonsub.com
Subsea7 - ROV operators, installation, survey and positioning
www.subsea7.com
Also...ROV AND UNDERWATER EQUIPMENT OPERATORS
http://www.oceanbuyer.com/pages/Operat1.html
Also...Good article on the market of ROV's (a little old, but I think there are a few good things to glean)
http://www.underwater.com/archives/arch/uw-su98.04.htm
Temperature Monitors Report Widescale Global Cooling
http://www.dailytech.com/Temperature+Monitors+Report+Worldwide+Global+Cooling/article10866.htm
Twelve-month long drop in world temperatures wipes out a century of warming
Over the past year, anecdotal evidence for a cooling planet has exploded. China has its coldest winter in 100 years. Baghdad sees its first snow in all recorded history. North America has the most snowcover in 50 years, with places like Wisconsin the highest since record-keeping began. Record levels of Antarctic sea ice, record cold in Minnesota, Texas, Florida, Mexico, Australia, Iran, Greece, South Africa, Greenland, Argentina, Chile -- the list goes on and on.
No more than anecdotal evidence, to be sure. But now, that evidence has been supplanted by hard scientific fact. All four major global temperature tracking outlets (Hadley, NASA's GISS, UAH, RSS) have released updated data. All show that over the past year, global temperatures have dropped precipitously.
A compiled list of all the sources can be seen here. The total amount of cooling ranges from 0.65C up to 0.75C -- a value large enough to wipe out nearly all the warming recorded over the past 100 years. All in one year's time. For all four sources, it's the single fastest temperature change ever recorded, either up or down.
Scientists quoted in a past DailyTech article link the cooling to reduced solar activity which they claim is a much larger driver of climate change than man-made greenhouse gases. The dramatic cooling seen in just 12 months time seems to bear that out. While the data doesn't itself disprove that carbon dioxide is acting to warm the planet, it does demonstrate clearly that more powerful factors are now cooling it.
Let's hope those factors stop fast. Cold is more damaging than heat. The mean temperature of the planet is about 54 degrees. Humans -- and most of the crops and animals we depend on -- prefer a temperature closer to 70.
Historically, the warm periods such as the Medieval Climate Optimum were beneficial for civilization. Corresponding cooling events such as the Little Ice Age, though, were uniformly bad news.
-faz
And so it begins. The ignorance of some people is astronomical. The responsible thing for the judge to do in this case is to throw this lawsuit out.
All the defense would have to do is say "prove that we are causing global warming" and the prosecution would be done. They would have a hard enough time proving this without a little something that is a must to win a court case...evidence.
-faz
I actually flipped over to American Idol to relieve the pressure on my head. Alright, back to sports.
-faz
ARRRRRRGH! My head is about to explode and blood is about to shoot out of my eyes!! I am watching the Dems debate and these two candidates are unbelievable! These two are such a joke. None of the candidates left, Dem or Repub are good. What is going on in this country when you have masses of people supporting a man that has zero experience and cannot give an honest answer.
HE WON'T DENOUNCE FARIKAN!!!! Are you kidding me?
-faz
Good picture...LOL!
Nice buying going into the close!!!
jds,
Thanks for the summary. I am glad your visit went well.
-faz
Milo,
Thanks for the update. Very encouraging news on the website today!
-faz
Good list of upcoming transactions.
http://independentcapitalcreditcorp.com/id2.html
Small Hotel I - $808,000 Status: Closed February 22, 2008
Office Building I - $5,800,000 Status: Financing has been Arranged - Closing Pending
Hotel Resort II - $400,000,000 Status: Financing has been Arranged
Under Initial Review and Analysis
Apartment Building I - $20,000,000
Apartment Building II - $5,000,000
Strip Shopping Center I - $10,000,000
-faz
Nice statements:
"These closings will have a significant impact on our first quarter financial results, which will be released in mid-April."
"ICCC will allocate up to 35%of the upfront fees earned to share buyback and additionally will use a portion of the interest income generated monthly to repurchase stock."
"It is the viewpoint of management at this time that a reverse stock split without the fundamentals to support a higher price would be harmful to both the Company and our shareholders."
Should bring some degree of sanity to this PPS.
-faz
I am confident in all the .48's I just bought. Figured I would double up my position.
Thanks to JDS for all the efforts down in Texas!
-faz
I agree. Would be nice to have a machine that we could throw all our wastes into and it spit out fuel.
-faz
longhorn,
"The reason the idea of 1 year of service intrigued me is because I have seen so many graduates that are clueless and self serving, it hit me without to much thought put into it that it might wake some of these kids up, but I can see where that would really detract from those who truly want to serve."
I could not agree with this any more. I think the benefits are astronomical, however, I just have an issue of forcing people to do it. I hate to say it but, if a kid wants to be a deadbeat, self serving, moron, then that is his God-given right and he should be free to do that. Hey there is good money there...see Paris Hilton, etc.
I will be pimping the service very hard to my kids and I hope they will have the opportunity to choose to serve and do it because it means something to them.
-faz
Might just start to see this here:
http://junkscience.com/blog_js/2008/02/20/biodiesel-plants-worthless-so-north-americans-buy-them/
http://www.planetark.com/avantgo/dailynewsstory.cfm?newsid=47073
HAMBURG - Three German biodiesel production plants were recently sold to the United States and Canada and more are up for sale after biodiesel sales collapsed, a German renewable fuels industry leader said on Wednesday.
"I estimate that 30 percent of Germany’s biodiesel plants are now up for sale," said Peter Schrum, president of the German renewable fuels industry association BBK.
"Three have recently been sold to the US and Canada and I believe that more will follow," he told Reuters in an interview.
Names of the companies involved are not being given.
"Germany’s biodiesel industry is currently being dismantled and sold abroad," he said.
The country’s five million tonnes biodiesel industry is only producing at about 10 percent of capacity largely because a biofuels tax increase on Jan 1 has sharply cut sales, he said.
Although the European Union wants to increase biofuel use to stop global warming, Germany has started taxing biodiesel as the government said it cannot afford to lose the large tax revenue from fossil diesel.
"The tax means that biodiesel is now more expensive than fossil diesel," said Schrum. "As biodiesel has eight percent less energy content, this means no-one is buying biodiesel."
Would need to have people start eating a crazy amount of fast food and going out a bunch more to generate enough feedstock to make biodiesel.
I like the idea and I am all for it, however, mass production of biodiesel is a big time money pit.
-faz
True, but how many cars would that power?
-faz
When are we going to actually see a DEBATE in this country? Blood is about to shoot out of my eyes watching the CNN debate. Why is there an audience? Why do they clap? What the hell! ERRRRRRRR!!!! Why not pose a question and let the candidates duke it out? Why do they compliment each other? THEY ARE RUNNING AGAINST EACH OTHER!!!!!
This is almost as bad as the Senate and House floors when they "debate". What a freaking joke.
-faz
Yeah,
we call it the People's Republic of Denver. LOL!
It is a pain in the butt to have any kind of firearms here, but forget about open carry and so called "assault weapons" in Denver.
I think that Denver is starting to realize that the influx of LIBS from California is starting to change Colorado for the worse and you may see a return to good conservative values soon.
-faz