Thanks Trade for the very informative look behind the door of Deep Down. Great to see they are growing as planned, building a great reputation in the sector, and are expanding at several levels in the market. This was as good or better as any PR!!
Great post as always, TS, and thanks for your efforts. I will bookmark this post and keep coming back to it with so much information related to the company included.
Thanks for the report. I like statement #10. It reminds me of another OTCBB stock, TWRT. TWRT is doing the same thing in the wind energy industry.
10. Many of these top senior independent CEOs in deep sea oil services do not want to be absorbed into major oil companies, but are interested in both capitalization for growth and to capture more of the growing budgets in the sector as well as getting equity stakes in a public company they can help to grow. DPDW was the one in the group to go public and has the leadership position now from which to consolidate the deep water services into THE NUMBER ONE company in its space. Therefore, it is implicit in the business strategy to grow the company into a billion dollar revenue operations both through organic growth and via acquisitions and thus attain the status of the premier deep water oil services company in the world. They have a very good shot at doing just that.
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?
Do you have any thoughts/comments about last Q's numbers?
Did you feel better about the Proteus before or after your visit? (shame on me for putting you on the spot)
Morale was high, do you feel the engineers and employees are looking forward to the daily challenges in the oil industry?
One point concerns me: heaven forbid, but, what if something were to happen to Ron Smith? Is there enough brain power, etc., to keep Deep Down's momentum growing? Do you have any knowledge of those under Mr. Smith's command and their respective abilities?
very nice report trade! i would personally like to thank you for taking the time to not only write your thoughts , but for sharing them on the dpdw board!
TS - great post! A Top 12 list for why DPDW is a long term investment and first hand confirmation (vicariously, through you) for most on this board of a quality company in the right place at the right time. Adding my thanks and appreciation to those expressed by the rest of the board. Thanks!!
Reviewing TS's post I couldn't help but notice point number 7 again & its underlying implications:
7. Clients maintain active roles in the development of products designed and crafted for them. As such, DPDW evidences deepening and ongoing relationships with clients for whom they are delivering new products.
Saipem & Schlumberger immediately come to mind. Saipem for their direct involvement with the world's deepest rated LARS development & production news last week...& Schlumberger for their lengthy & ongoing hands on testing/development with DDI for the Proteus AHC!
2 game changing products with 2 industry giants taking active roles behind the scenes sure sends a message as to some of the things approaching on the horizon!