Deep Down Receives Orders Totaling $4.2 Million

PR Newswire

HOUSTON, Dec. 23, 2013 /PRNewswire/ -- Deep Down, Inc. (DPDW) ("Deep Down"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services announced today it has received two orders for flying leads, umbilical termination heads (UTH) and semi-rigid jumpers.

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The first order was received from an international controls OEM for ten semi-rigid jumpers for deployment offshore Western Australia in 1,000' (305 m) of water.  The second order is from a small U.S. based independent exploration and production company for three flying leads and six UTH assemblies for deployment in the Gulf of Mexico in 2,000' (610 m) of water.

Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, "We are delighted with the orders, they further reaffirm our marketing, engineering and project execution efforts aren't going unnoticed by our clients.  We are honored that our clients have entrusted DDI with mission critical equipment."

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 (LSFL), installation buoyancy, ROVs and tooling, 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. More information about Deep Down is available at www.deepdowninc.com.

Forward-Looking Statements

Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties and that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.

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