Joe
"Thank you TS for that report. Did you get any sense that Deep Down might be involved in aquaculture, wind or wave energy projects or ocean floor mining in the next year or two?"
I don't know, but I consider that more speculative in nature. The time from planning entry into a market niche to actually producing meaningful sales can take years. Unless there is a partnership that introduces the company to such opportunities more rapidly I don't see those areas as being likely to contribute anything to the bottom line in that brief amount of time. Of those, ocean mining will be massive and that also seems to be the best fit technologically as well. Any initiatives in that direction could greatly boost the long term prospects for the company even more over a 5 year time frame in my estimation.
"Do you have any thoughts/comments about last Q's numbers?"
There is sequential growth in those numbers if it is parsed out correctly. The company is growing, no doubt. The numbers should keep growing.
"Did you feel better about the Proteus before or after your visit?"
I saw it operating. Its very impressive, obviously well engineered and everything they produce looks to be of the highest quality finished product. Deep Down is a fine logo to have on your gear. Yes, I'm positive on the future of the Proteus.
"Morale was high, do you feel the engineers and employees are looking forward to the daily challenges in the oil industry?"
It is totally irrelevant to their goals and task. The deep sea sector will grow heavily regardless of the price of oil at $70 or $100 a barrel. The company will have their hands full dealing with that growth. Oil fluctuations will not in any affect work activity or outlook at the company. And it should not be drawn upon by investors as any kind of metric on which to base an investment in DPDW. If oil hits $70 in a month it has little bearing on the progress of the company. If oil went to $40 it would. That seems almost impossible, therefore no one in or out of DPDW should be fixated on oil price movements as a basis for judging the company's performance or prospects.
