HOUSTON, Nov. 30, 2007 (PRIME NEWSWIRE) -- Superior Offshore International, Inc. (Nasdaq:DEEP) today announced it has amended its agreement and plan of merger with Ocean Flow International, L.L.C. to extend the deadline for the closing of the acquisition to December 28, 2007.
Ocean Flow is a privately held deepwater subsea project engineering and offshore project management services firm based in Houston.
About Superior Offshore International
Superior Offshore International 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 10 service vessels and provides remotely operated vehicles (ROVs) and saturation diving systems for deepwater and harsh environment operations.
The Superior Offshore International, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3909
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. Forward-looking statements include information concerning our possible or assumed future business and financial performance and results of operations, including statements regarding the expected closing of the acquisition of Ocean Flow and our expectations regarding the integration of Ocean Flow into our existing operations. We have based these statements on our assumptions and analyses in light of our experience and perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate in the circumstances. 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, we continue 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 our Prospectus, dated April 19, 2007 and filed with the Securities and Exchange Commission on April 20, 2007, and our other filings with the SEC which may be obtained by visiting the Investor Relations section of our website under "Financial Information" at www.superioroffshore.com or from the SEC's website at www.sec.gov.