| Deep Down Receives $4 Million Letter of Intent for Surface and Subsea Hardware |
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| News archive - Maritime | |||
| Monday, 26 April 2010 07:19 | |||
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Deep Down, Inc. (OTC Bulletin Board: DPDW), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today announced it has received a Letter of Intent (LOI) for an order valued in excess of $4 million for installation equipment, surface and subsea hardware in West Africa; the majority of the work is to take place in the third quarter of 2010. Ronald E Smith, Chief Executive Officer, stated, "We are very pleased that as Deep Down products and services increase, so does the demand and the confidence bestowed on us by our clients. Deep Down's entire purpose is to provide the glue that helps bond these projects together so there is the highest level of safety and overall savings to the quality and efficiency by which the products are installed and services provided. We look forward to building on this project and pursuing other opportunities in the region with the assets we will be deploying for this project."
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