Superior Offshore International Announces Successful Launch of Superior Achiever
January 21 2008 - 10:00AM
PR Newswire (US)
Closing of Sale/Charter-Back of Vessel Expected to Occur on January
22, 2008 HOUSTON, Jan. 21 /PRNewswire-FirstCall/ -- Superior
Offshore International, Inc. (NASDAQ:DEEP) today announced that the
Superior Achiever, a DP-III deepwater construction and dive support
vessel that is under construction and is expected to be delivered
in late 2008, was successfully launched in the Netherlands on
January 19, 2008. The launch of the Superior Achiever paves the way
for the completion of the previously announced sale and
charter-back of the vessel between Superior Offshore and Hornbeck
Offshore Services LLC, a wholly owned subsidiary of Hornbeck
Offshore Services, Inc. (NYSE:HOS). Superior Offshore and Hornbeck
have delivered funds and documents into escrow to be released on
Tuesday, January 22, 2008, due to today's U.S. bank holiday. About
Superior Offshore International, Inc. Superior Offshore is a
leading provider of subsea construction and commercial diving
services to the offshore oil and gas industry, serving operators
internationally and domestically in the outer continental shelf of
the U.S. Gulf of Mexico. Construction services include
installation, upgrading and decommissioning of pipelines and
production infrastructure. Commercial diving services include
inspection, maintenance and repair services and support services
for subsea construction and salvage operations. The company also
operates a construction/fabrication division. Superior Offshore
operates a fleet of nine service vessels and provides remotely
operated vehicles (ROVs) and saturation diving systems for
deepwater and harsh environment operations. Forward-Looking
Statements Certain statements contained in this news release are
forward-looking statements. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking
statements, including statements regarding the expected closing of
the sale/charter-back transaction and the expected delivery and
deployment of the Superior Achiever. Forward-looking statements by
their nature involve substantial risks and uncertainties that could
significantly affect expected results, and actual future results
could differ materially from those described in such statements.
Although it is not possible to identify all factors, Superior
Offshore continues to face many risks and uncertainties. Some of
the factors that could cause actual future results to differ
materially are described under the caption "Risk Factors" in
Superior Offshore's Prospectus, dated April 19, 2007 and filed with
the Securities and Exchange Commission ("SEC") on April 20, 2007,
and Superior Offshore's other filings with the SEC, which may be
obtained by visiting the Investor Relations section of Superior
Offshore's website under "Financial Information" at
http://www.superioroffshore.com/ or from the SEC's website at
http://www.sec.gov/. Contacts: Superior Offshore International
Roger Burks, CFO 713-910-1875 DRG&E Ken Dennard / Anne Pearson
/ 713-529-6600 DATASOURCE: Superior Offshore International, Inc.
CONTACT: Roger Burks, CFO of Superior Offshore International,
+1-713-910-1875, ; or Ken Dennard, , or Anne Pearson, , both of
DRG&E, +1-713-529-6600, for Superior Offshore International Web
site: http://www.superioroffshore.com/
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