News

02/8/10 - Mako Technologies and AGR Subsea Sign Representation Agreement

Deep Down Inc (OTCBB: DPDW) announced today that its wholly-owned subsidiary Mako Technologies LLC (“Mako”) has signed a representation agreement with AGR Subsea Ltd (“AGR Subsea”), the trenching and excavation subsidiary of AGR Group (OSE: AGR).

12/18/09 - Deep Down’s Intellectual Property Continues to Grow

HOUSTON, TX – December 18, 2009 – Deep Down, Inc. (OTCBB: DPDW) today announced that its wholly-owned subsidiary, Flotation Technologies, has been awarded a patent number US 7,628,665 B1 by the United States Patent and Trademark Office for "Drilling Riser Buoyancy Modules". In general, the granted patent provides broad protection for the design of the CoreTec™ Drilling Riser Buoyancy Module.

12/15/09 - Deep Down Secures Two New Contracts for $4 Million

HOUSTON, TX – December 15, 2009 – Deep Down, Inc. (OTC BB: DPDW), today announced the signing of two contracts in excess of $4 million for work in West Africa. These contracts, for buoyancy products made by our subsidiary Flotation Technologies, Inc. and umbilical services at Deep Down’s Channelview, Texas facility, will be completed over the first half of 2010.

11/17/09 - Deep Down Announces Third Quarter Results

HOUSTON, TX – November 17, 2009 – Deep Down, Inc. (OTCBB: DPDW) announced today unaudited results for the third quarter ended September 30, 2009.

10/21/09 - Deep Down Announces 30-Year Anniversary of Flotation Technologies

HOUSTON, TX – October 21, 2009 – Deep Down, Inc. (OTC BB: DPDW) announces the 30th anniversary of Flotation Technologies, Inc., a wholly-owned subsidiary.

10/7/09 - Deep Down Receives Another Order on West Africa Project

HOUSTON, TX – October 07, 2009 – Deep Down, Inc. (OTC BB: DPDW) announced today that it has been awarded a contract in excess of $600,000 to provide Steel Tube Flying Lead (SFL) installation equipment to a European Installation Contractor for a project scheduled for late 2009 or early 2010 off the coast of Ghana, West Africa. This award comes on the heels of the previous Deep Down award for 39 Steel Tube Flying Leads (SFL) from the Operator of the same project announced on May 4, 2009.

09/30/09 - Deep Down, Inc. Manufactures Largest Buoyancy Modules for Gulf of Mexico Deep Water Project

Deep Down, Inc., a leading offshore service and technology company providing innovative subsea solutions for the world’s energy and offshore industry, today announced an approximate $1million order for the manufacture of 70 metric tons of buoyancy products for a major project in the Gulf of Mexico, with delivery slated for early 4th quarter 2009.

09/9/09 - Deep Down Announces Appointment of New Chairman of the Board

Deep Down, Inc. announced today that its Board of Directors has accepted the resignation of Mr. Robert E. Chamberlain, Jr. as Chairman of the Board and Chief Acquisitions Officer, effective September 1, 2009.

08/21/09 - Deep Down Announces Second Quarter Results

Deep Down, Inc. announced today unaudited results for the second quarter ended June 30, 2009.

07/29/09 - Deep Down Announces Support for SSAS Military Contract

Deep Down, Inc. announced today that it has been asked to support Amnor Technologies, Inc.’s fulfillment of a purchase order from VT Halter Marine for the manufacture and installation of a Security and Safety Alarm System (“SSAS”) for US Navy TAGM Missile Range Craft

07/1/09 - Deep Down Expands Presence in Brazil

Deep Down, Inc., a global leader in offshore deepwater products and services for the oil and gas industry, today announced the engagement of Marcelo Lardosa as Business Development Officer.

05/14/09 - Deep Down Inc Announces First Quarter Results

Deep Down, Inc. announced today unaudited results for the first quarter ended March 31, 2009.

05/4/09 - Deep Down receives Deepwater Project Orders

Deep Down, Inc. today announced receipt of subsea service and technology orders for deepwater oil and gas fields in West Africa and the Gulf of Mexico (GOM).

04/20/09 - Deep Down S-1 Registration Declared Effective

Deep Down, Inc. today announced that its registration statement on Form S-1, registering approximately 57 million shares of its common stock,

04/3/09 - Deep Down Expands Sales Organization

Deep Down, Inc.today announced it has expanded its sales organization to support the substantial growth the Company is experiencing.

03/24/09 - Deep Down Awarded Patent for New Subsea J-Plate Design

Deep Down, Inc. today announced that it has been awarded a patent [number 7,467,662 B2] by the United States Patent and Trademark Office.

03/19/09 - Deep Down Reports 84.5% Increase in Revenue

Deep Down, Inc. today commented on its results of operations for the year ended December 31, 2008, reported on Form 10-K and filed on March 16, 2009 with the Securities and Exchange Commission.

02/27/09 - Deep Down Opens New Houston Corporate Headquarters

Deep Down, Inc. today announced it has opened new corporate headquarters in Northwest Houston, at 8827 W. Sam Houston Parkway, N., Suite 100, Houston, Texas 77040.

01/26/09 - Deep Down Expanding Buoyancy Facilities to Serve Growing Deepwater Market

Deep Down, Inc. today announced expansion plans of its buoyancy manufacturing facility and flotation testing services in response to recent orders and anticipated demand...

11/18/08 - Deep Down Announces 140% Increase In Revenues For The Third Quarter

Revenue for the three months ended September 30, 2008 increased $6.8 million to $11.7 million, a 140% increase over the same three-month period in 2007.

10/13/08 - Deep Down Expands ROV Fleet Through Mako Technologies

The Super Mohawk can carry out many of the tasks currently being performed by heavy, work-class vehicles.

09/10/08 - Deep Down Announces SDB System Orders for $1 Million

Deep Down's patent pending SDB System utilizes a unique mudmat and cartridge layout that allows for installation of hydraulic flying leads, electric flying leads, gas lift jumpers and other subsea equipment from the seabed, thereby eliminating the need for expensive, surface-based installation equipment.

08/25/08 - Deep Down Expands ROV Staff Through Mako Technologies

Mako Technologies, LLC (Mako) has appointed Bryce Merrill to the position of Director of Subsea Services. Merrill brings over 40 years of experience and relationships in the subsea industry to Mako; 17 years as a diver and 25 years with Remote Operated Vehicles (ROVs).

08/20/08 - Deep Down Announces 96% Increase in Revenues

Deep Down generated revenue of $14.2 million for the six months ended June 30, 2008 compared to $7.2 million for the same period last year, an increase of $7.0 million, or 96%.

08/14/08 - Flotation Technologies Named The 27th Fastest Growing Manufacturing Company In The U.S.

Flotation Technologies, Inc., a Deep Down Inc. company (OTCBB: DPDW - News) and a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer products, today announced the company has been named the 27th fastest growing, privately owned manufacturing company in the United States by Inc. magazine.

06/5/08 - Deep Down Sells $40 Million of Common Stock

Deep Down, Inc. announced today that it has closed a $40 million private placement of common stock to institutional and accredited investors. Deep Down sold 57,142,857 shares of its Common Stock at a price of $0.70 per share.

06/5/08 - Deep Down Receives Second $9.0 Million Order for Buoyancy

Deep Down, Inc. today announced that it has received a second letter of intent for approximately $9 million from Delba International to supply and install the deepwater marine drilling riser flotation system for the new-build Delba IV semisubmersible drilling rig.

05/23/08 - Deep Down Receives $9.0 Million Order for Buoyancy

Deep Down, Inc. today announced that it has received an approximately $9 million letter of intent from Delba International to supply and install the deepwater marine drilling riser flotation system for the new-build Delba III semisubmersible drilling rig.

05/19/08 - Deep Down Announces Record First Quarter Results

Deep Down, Inc. today announced unaudited results for the first quarter ended March 31, 2008, on Form 10-Q filed with the U.S. Securities and Exchange Commission.

05/9/08 - Deep Down Announces $5.5 Million Buoyancy Order

Deep Down, Inc. today announced that Flotation Technologies, Inc., a world leader in the engineering, design, and manufacturing of deepwater buoyancy and polyurethane elastomer systems, received a contract award for a unique, custom-designed riser buoyancy solution from an international energy company.

05/5/08 - Deep Down Announces New Distribution Agreement with Hach Ultra

Deep Down, Inc. 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).

04/17/08 - Deep Down to Acquire Flotation Technologies

Deep Down, Inc. today announced it has executed a Stock Purchase Agreement to purchase all of the outstanding capital stock of Flotation Technologies, Inc.

04/11/08 - Deep Down Delivers Second 4000 Meter Rated LARS

Deep Down, Inc. announced today that it has shipped the second of what is believed to be the deepest class rated Launch and Retrieval System (“LARS”) in the world.

04/7/08 - Deep Down Delivers Next Generation Steel Flying Leads

Deep Down, Inc. announced today that it has shipped $1.5 million worth of products for the Phoenix project, including six next generation Loose-tube Steel Flying Leads (LSFLs).

04/1/08 - Deep Down Announces 120% Increase in Revenue

Deep Down, Inc., a Nevada corporation today announced it has filed its Form 10-KSB for the period ending December 31, 2007, with the Securities and Exchange Commission.

03/27/08 - Deep Down Focuses on Investor Relations and Market Awareness

Deep Down, Inc. today announced recent activities it has engaged in to increase awareness to the institutional marketplace of its unique position in the offshore services industry.

03/25/08 - Deep Down Ships $1.5 Million of Innovative Subsea Hardware

Deep Down, Inc. announced today, in a continuing effort to create installation-friendly, solution-oriented products for its clients, that it has custom-engineered, produced, and shipped BS Latcher receivers and Messenger Wire Kits to mitigate the problem of marine growth in shallow subsea environments for umbilical systems in the Shell Perdido project.

03/24/08 - Deep Down Announces Conversion of Series D Preferred Stock

Deep Down, Inc. announced today that it has converted all 5,000 shares of Series D Convertible Preferred Stock outstanding and held by Ronald E. Smith, President and CEO and Mary L. Budrunas, VP, into 25,866,529 shares of common stock of Deep Down.

11/14/07 - Deep Down Announces Third Quarter Results

Deep Down, Inc. today announced unaudited results for the third quarter ended September 30, 2007, on Form 10-QSB filed with the U.S. Securities and Exchange Commission.

10/12/07 - Deep Down Announces Upward Revision by Dahlman Rose

Deep Down, Inc. (OTCBB: DPDW) today announced that Dahlmann Rose & Company, LLC (MEMBER: NASD/SIPC) has reaffirmed its BUY rating and revised its target price to $2.50 per share.

10/12/07 - Deep Down Announces Research Report by Tuohy Brothers

Deep Down, Inc. (OTCBB: DPDW) today announced that Tuohy Brothers Investment Research, Inc. (MEMBER: NASD/SIPC) has issued an unsolicited research report on the Company.

10/11/07 - Lieutenant Commander Gregor Boucher Joins Electrowave

Deep Down, Inc. today announced that Lieutenant Commander Gregory Boucher, recently retired from the United States Navy, will join ElectroWave USA, Inc. (subsidiary) as marine systems manager on October 16, 2007.

10/5/07 - Deep Down Announces $3,000,000 Private Placement

Deep Down, Inc. today announced it has reached an agreement with Ironman Energy Capital, L.P. to close a private placement of 3,125,000 shares of common stock of the company at $0.96 per share, or $3,000,000 in the aggregate, in an agreement reached on October 2, 2007, when the closing price was $1.03 per share.

10/5/07 - Deep Down Reduces Indebtedness by $1,810,000

Deep Down, Inc. today announced it has exchanged 1,250 shares ($1,250,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock (“Preferred Stock”) for 1,213,592 shares of common stock in an agreement reached on October 2, 2007...

10/3/07 - Deep Down Announces Over $30 Million in Flotation Orders

Deep Down, Inc. announced today that it has secured over $22 million in drilling riser flotation contracts for Matrix Asia Pacific Pty Ltd of Perth, Australia, and expects to close over $8 million in additional contracts within the next couple of weeks.

09/27/07 - Deep Down Delivers Intelligent In-Line Winch System for Offshore Deployment

Deep Down, Inc. today announced it has delivered and installed the first of two active heave compensated in-line winch systems to Schlumberger, Inc.

08/21/07 - Deep Down Second Quarter Revenue up 145% Over First Quarter

Deep Down, Inc. today announced unaudited results for the second quarter ended June 30, 2007, on Form 10-QSB filed with the U.S. Securities and Exchange Commission.

08/14/07 - Deep Down Reduces Indebetedness by $3,400,000

Deep Down, Inc. today announced that it has redeemed 4,000 shares ($4,000,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock for $2,000,000.

08/8/07 - Deep Down Completes $6 Million Financing

Deep Down, Inc. today announced that it has entered into a $6 million secured credit agreement with Prospect Capital Corporation to recapitalize the balance sheet and provide working capital to accelerate development of its corporate growth strategies.

07/26/07 - Dahlman Rose Iniates Research on Deep Down

Deep Down, Inc. today announced that Dahlman Rose & Company, LLC (MEMBER: NASD/SIPC) has initiated research coverage of the Company with a BUY rating and a target price of $1.50 per share.

07/15/07 - Supplier News - "Tornado" Torque Tool

Operating at depths between 2000' to 7100' feet, the project demonstrated the ease of operation and performance of the new tool.

07/13/07 - Deep Down Announces Loose-Tube Steel Flying Lead Contract

Deep Down, Inc. today announced it has been awarded a contract to supply loose-tube steel flying leads and compliant Morays™ to a customer for their subsea field development project in the Green Canyon area of the Gulf of Mexico.

06/21/07 - Deep Down Executes LOI to Acquire Mako Technologies

Deep Down, Inc. (OTCBB: DPDW) today announced it has executed a letter of intent (LOI) to acquire Mako Technologies, Inc. (Mako). Headquartered in Morgan City, Louisiana, Mako serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production....

06/18/07 - Deep Down Announces Audited Financials for Electrowave

Deep Down, Inc. today announced audited financial results for ElectroWave USA, Inc., a Texas corporation, an electronic monitoring and control systems development company operating in the energy, military, and commercial business sectors, for the years ended December 31, 2005 and 2006.

06/6/07 - Deep Down Names New Chief Financial Officer and Directors

Deep Down, Inc. (OTCBB: DPDW) today announced it has engaged Eugene L. Butler to serve as its new chief financial officer (CFO). Mr. Butler will also fill a vacancy on the board of directors.

05/18/07 - Deep Down Announces First Quarter Results and Resignation

Deep Down, Inc. (OTCBB: DPDW) today announced it has filed its Form 10-QSB for the period ending March 31, 2007, with the Securities and Exchange Commission.

05/17/07 - Deep Down's Electrowave Subsidiary Reports Record Month

Deep Down, Inc. (OTCBB: DPDW) today announced its recently acquired ElectroWave USA electronic monitoring and control business has so far this month received orders totaling approximately $800,000.

05/11/07 - Deep Down Participates in the Offshore Technology Conference

Deep Down, Inc. (OTCBB: DPDW) exhibited its unique deepwater oil and gas infrastructure installation support products and services at the 2007 Offshore Technology Conference (OTC) last week in Houston, Texas.

04/24/07 - Deep Down Amends Filing on Form 10-KSB

Deep Down, Inc. (OTCBB: DPDW) announced it has amended its 2006 Form 10-KSB and filed Form 10-KSB/A with the Securities and Exchange Commission.

04/24/07 - Deep Down Announces First Quarter Order Activity

Deep Down, Inc. (OTCBB: DPDW) today announced total orders for its first quarter ended March 30, 2007, of more than $3.25 million.