we should make a little from this too. and starting this quarter it seems to me.
NEWS RELEASE
May 5, 2008 OTC BB: DPDW
DEEP DOWN ANOUNCES NEW DISTRIBUTION AGREEMENT WITH HACH ULTRA
HOUSTON, TX – May 5, 2008 – Deep Down, Inc. (OTCBB: DPDW) today announced it has entered into a distributor agreement with Hach Ultra, manufacturer of HIAC liquid particle counters, for its highly advanced GlyCountä liquid particle counter and Portable Oil Diagnostic System (PODS).
The portable GlyCountä liquid particle counter analyzes glycol fluids and coolants in bottle sampling and on-line modes. The new instrument provides rapid test results that are consistent with conventional laboratory microscope or liquid particle counter analyses. Accurate particle counting results are delivered in significantly less time than is required under traditional analysis practices. Instead of taking up to 30 minutes to take one reading of a sample, this instrumentation will allow a user to take three readings of a sample in as little as 10 seconds. This portable instrument delivers cleanliness results at the point-of-use under actual operating conditions, further reducing manpower and analysis time. Just as the GlyCountä system is used in glycol oil-based fluid testing, Hach Ultra’s portable PODS oil testing system is used to test hydraulic fluids, providing rapid and accurate test results, under NAS and ISO standards, for oil based fluids.
Ronald E. Smith, Deep Down’s president and chief executive officer commented, “Umbilical fluids used offshore are required to be nearly particle free, and call for frequent analyses. Until now, this analysis was performed manually with a microscope and took up to 30 minutes per sample resulting in many hours of analysis time. We are pleased to have been chosen by Hach Ultra to market and sell these time saving units to the offshore/subsea market. With the GlyCountä liquid particle counter, these same analyses are completed, in triplicate, within about 10 seconds. The GlyCountä liquid particle counter is a natural fit with all of Deep Down’s offshore services and products as it saves time, provides reliable results, and helps get projects back online quicker.”
“In addition, these rapid fluid particle counting systems can be used to test both manually collected samples and in-line samples. Together with our Electrowave USA division, Deep Down intends to integrate this vital in-line monitoring capability into our marine vessel monitoring systems and offer clients real-time monitoring of their on-board fluid conditions. We believe such a time and money saving device will be in high demand within our market, and we will be demonstrating it, along with the rest of Deep Down’s services and products, at this week’s Offshore Technology Conference in Houston, Texas,” Smith concluded.
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