HOUSTON, Oct. 18 /PRNewswire-FirstCall/ -- Cal Dive International, Inc.
(Nasdaq: CDIS) announced today that it has received clearance from the
Department of Justice to close the asset purchase agreement with Stolt
Offshore, that was announced on April 12th. Under the terms of the clearance,
Cal Dive will divest two diving support vessels and a portable saturation
diving system from the combined asset package acquired through this
transaction and the one closed with Torch Offshore on August 31st.
Martin Ferron, President, stated, "We are very pleased to now be able to
fully implement our plan to form a new Shelf contracting subsidiary. This
entity will have 28 vessels and two portable saturation diving systems to
deploy in a strong marketplace, bolstered by additional subsea work created by
Hurricane's Ivan, Katrina and Rita."
Cal Dive International, Inc., headquartered in Houston, Texas, is an
energy service company which provides alternate solutions to the oil and gas
industry worldwide for marginal field development, alternative development
plans, field life extension and abandonment, with service lines including
marine diving services, robotics, well operations, facilities ownership and
oil and gas production.
This press release contains forward-looking statements that involve risks,
uncertainties and assumptions that could cause our results to differ
materially from those expressed or implied by such forward-looking statements.
All statements, other than statements of historical fact, are statements that
could be deemed "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including, without limitation, any
projections of revenue, gross margin, expenses, earnings or losses from
operations, or other financial items; any statements of the plans, strategies
and objectives of management for future operations; any statement concerning
developments, performance or industry rankings relating to services; any
statements regarding future economic conditions or performance; any statements
of expectation or belief; and any statements of assumptions underlying any of
the foregoing. The risks, uncertainties and assumptions referred to above
include the performance of contracts by suppliers, customers and partners;
employee management issues; complexities of global political and economic
developments, and other risks described from time to time in our reports filed
with the Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K for the year ending December 31, 2004. We assume no
obligation and do not intend to update these forward-looking statements.
SOURCE Cal Dive International, Inc.
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Related links:
http://www.caldive.com
CONTACT:
Wade Pursell, Chief Financial Officer of Cal
Dive International, Inc., +1-281-618-0400, or fax,
+1-281-618-0505
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