Replies to post #84570 on Koil Energy Solutions Inc. (KLNG)

[tombrady12nh]

Thanks utmostbastard! You all can thank me for posting the pics in December 08. just kidding.

[valleyboi0]

WooHoo !!

[peewee]

Jut received it from IR in an email !

[The Shadow]

You beat me to the news... Doubling capacity due to orders! EXCELLENT!

DEEP DOWN EXPANDING BUOYANCY FACILITIES TO SERVE GROWING DEEPWATER MARKET

HOUSTON, TX – January 26, 2009 – Deep Down, Inc. (OTCBB: DPDW) today announced expansion plans of its buoyancy manufacturing facility and flotation testing services in response to recent orders and anticipated demand for its drilling riser buoyancy system used in ultra-deepwater production. The facility’s expansion effectively doubles its buoyancy manufacturing capacity.
Deep Down acquired the Biddeford, Maine based facility, Flotation Technologies, Inc., in June of 2008 in conjunction with its continuing strategy to expand services in the deepwater and ultra-deepwater drilling and production markets. Subsequently, the Company announced an $11 million order for its deepwater drilling riser buoyancy modules to be installed on the Delba III semisubmersible drilling rig, which has a long-term contract to drill in Brazilian waters.
“Deep Down’s primary opportunities are in the growing deepwater drilling and production services sector,” commented Ronald E. Smith, Deep Down’s president and chief executive officer. “To ensure our Company is prepared to meet demand, we have committed over $2 million to expand production and testing service capabilities. We have undertaken this expansion to advance Deep Down’s strategy to become a leader within the deepwater buoyancy marketplace.”
Deep Down’s newly engineered drilling riser buoyancy solution, with its patent-pending CoreTec™ syntactic foam buoyancy technology, has solved many difficulties over current buoyancy products because it is inherently stronger at depth and provides a longer service life, which ultimately translates into a much more cost-effective drill riser buoyancy solution.
Ground has already been broken on the first phase of the expansion project, with construction to improve the Maine facility’s shipping access and operational functionality. The second phase of the project, which includes the Maine facility’s expansion and a Texas-based testing service capability, is slated to begin later this quarter.
About Deep Down, Inc.
Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down’s proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and ROV tooling, as well as marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company’s primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. Deep Down provides these services through its four subsidiaries. More information about Deep Down is available at www.deepdowncorp.com, by contacting the company at [phone] x250, or [e-mail].

One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.

For Further Information

Steven Haag, Investor Relations
[e-mail]
281-862-2201 (O)
281-862-2522 (F)

[Trueheart]

Hey, Utmost, Flotec is simply going to do its job of pulling up Deep Down during these hard sector times.

A small company getting large orders.

Trueheart

[JoeSmith]

Regarding the FT Buoyancy Facilities Expansion,
here are some board links of interest.

Pictures from the site of some preliminary site prep
last October. (thanks TomBrady)
#msg-33235514

THE FINAL SITE PLAN REVIEW FOR FLOTATION TECHNOLOGIES for a 17,080 SF addition
#msg-32960203

Video from the Planning Board meeting.
#msg-32961509 (thanks Odinepinetree)

Flotation Technologies Named The 27th Fastest Growing Manufacturing Company In The U.S.
#msg-32170762
#msg-32101347

[alien42]

"a Texas-based testing service capability is slated to begin later this quarter."

anyone have any ideas/WAGs about this?

i see the expansion as being specifically for CoreTec™ Drilling Riser Buoyancy Modules. is this testing also related to CoreTec™?

[valleyboi0]

This train is now taking reservations for boarding. There are some remaining seats available, book now for a reserved seat before departure .. some made absent recently it seems too .. the current pps is a seat sale :-)

[spec machine]

Flotation Technologies Begins Facility Expansion to Meet Growing Demand

===== this is the news as it appears on the Flotation Technologies website subsequent to the DDI PR dated Jan 26 2009 and titled "Deep Down Expanding Buoyancy Facilities to Serve Growing Deepwater Market" and cotains additional context and comment from FT mgmt (link back for original DDI PR posted by utmostbastard) ============


BIDDEFORD, MAINE - February 2, 2009 - Flotation Technologies, Inc., a Deep Down Inc. company (OTCBB: DPDW) and a global leader in deepwater buoyancy systems, today announced the purchase of land adjacent to its current facility and has broken ground on an expansion project. Closing on the land took place the end of last year in preparation for an expansion of the facility, shipping access, and parking.

"We have experienced strong growth over the past three years and see no sign of this growth slowing, even in the current economy," commented David Capotosto, Flotation Technologies' president. "This expansion will allow us to meet and surpass our projected growth over the next three to five years, while continuing to provide our customers with the level of service they have come to expect from Flotation Technologies."

Construction has already begun on the project's first phase to improve the facility's functionality. Specific enhancements include the expansion of the facility's shipping and receiving area, improved roadway access, and parking for additional workers. The second phase of the project, which includes the building's expansion, is slated to begin later this quarter and is in the process of final design and engineering. The company has received all state and local approvals.

About Flotation Technologies

Flotation Technologies, Inc., a wholly-owned subsidiary of Deep Down Inc., (OTCBB: DPDW), is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength FlotecTM syntactic foams and polyurethane elastomers. Focused on the offshore oil, oceanographic, seismic and government markets, Flotation Technologies delivers world-class buoyancy products for a host of marine applications such as: distributed buoyancy for
flexible pipes and umbilicals, drilling riser buoyancy modules, ROV buoyancy, QuickLocTM cable floats, HardballTM umbilical floats, FLOTECTTM cable and pipeline protection, InflexTM polymer bend restrictors and installation buoyancy of any size and depth rating. For more information, visit www.flotec.com.

About Deep Down, Inc.

Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down's proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and related tooling, as well as marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company's primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. Deep Down provides these services through its four subsidiaries. More information about Deep Down is available at www.deepdowncorp.com, by contacting the company at [phone] x250, or [e-mail].

Forward Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, acquisitions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. All of the information provided in this release is as of February 2, 2009, and Flotation Technologies undertakes no duty to update the information provided herein.