Koil Energy Solutions Inc. (KLNG)

[JoeSmith]

You got that right! I was just looking at his ENI post.

Eni owns lease interests in 439 GoM blocks, 72% of which are in deepwater.

In the USA, Eni is present in the GoM, where it is among the leading producers with a daily net production of approximately 110,000 barrels of oil equivalent (60% operated)
http://www.euro-petrole.com/ne_03_actualite_i_details.php?idNews=1554

Then I found this..
"Saipem awarded new offshore drilling contract for USD 860 million


San Donato Milanese (Milan), 12 November 2007 – Saipem has been awarded a five-year contract for the charter of the newly built deepwater semi-submersible drilling rig Scarabeo 9. The contract is worth in excess of USD 860 million.


The contract, signed with Eni, is for drilling operations mainly in the Gulf of Mexico, and will be executed between the end of 2009 and the end of 2014.


The new rig is currently under construction at the Chinese yard of Yantai Raffles Shipyard and the rig delivery is scheduled for the fourth quarter of 2009."

"Saipem, 43% owned by Eni, is organised in three Business Units: Offshore, Onshore and Drilling, with particular expertise in oil & gas related activities in remote areas and deepwater."

http://www.saipem.eni.it/comunicati/inglese/pr2007/PR_07-11-12_Sc9.htm

Then going back to the DPDW April 07 PR
DEEP DOWN ANNOUNCES FIRST QUARTER ORDER ACTIVITY

During the first quarter of 2007, Deep Down received a number of significant orders that not only are expected to generate significant revenue, but made important inroads into several of Deep Down’s growing market channels,” commented Robert E. Chamberlain, Jr., Deep Down’s chairman. The Company received a flexible pipe retrieval, termination, and installation contract from Saipem America, Inc., marking our continuing expansion into the flexible pipe market."

http://www.deepdowninc.com/Press/2007/news_04-24-07a.htm

i see DPDW has worked on at least 3 other ENI projects in the past.

I don't think those growing market channels he mentioned are just plain ole ocean channels.