(State or other jurisdiction

of incorporation)

(IRS Employer

Identification No.)

11911 FM 529

Houston, TX

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Our earnings per share (EPS) outlook for 2007, 4^th quarter of 2007 and for 2008;

Our earnings guidance for 2008, including operating income for ROVs, Subsea Products and Subsea Projects and results for Inspection and MOPS;

Anticipated deepwater discoveries to be evaluated and developed;

Future floating rig new builds;

Future floating rig demand;

Expected 2008 ROV results to improve by increasing days on hire, by adding approximately 30 new systems, and higher average revenue per day on hire;

Expansion of our ROV fleet for both drill support and construction service;

Drill support contracting opportunities on announced future new builds;

Our 2008 estimated ROV operating income of $25 million to $35 million over our 2007 estimate;

Our 2008 ROV margins anticipated to be about the same as 2007;

Subsea completions expected to more than triple in this decade over the 1990s, and double in the decade commencing 2010;

Subsea tree orders forecast for 2007 through 2011;

Worldwide umbilical market forecast for 2007 through 2011;

Subsea tree orders forecast to be up 35% and umbilical control hardware order forecast to be up 80% for 2007—2011 compared to the level of 2002 – 2006, respectively;

Our expectation that our year-end 2007 backlog in Subsea Products will be $385 million;

Our 2008 Subsea Products operating income to be up $25 million to $35 million compared to 2007;

Projected subsea completions in the Gulf of Mexico for the period 2007 through 2009;

Our expectation that hurricane damage repair work is nearing completion and that demand and pricing for diving and shallow water vessel services will decline in 2008;

Expected continued favorable deepwater Subsea Projects Installation and IMR service demand;

Our expectation that we will have vessel drydock inspections of the Ocean Intervention, Ocean Intervention II and The Performer in 2008;

Our 2008 Subsea Projects operating income anticipated to be approximately $20 million lower than 2007;

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Our projection that 2008 will be our 5^th consecutive year of record results;

Our projected 2007 and 2008 Cash Flow from Operations (as defined and reconciled to GAAP measures in the Supplemental Financial Information to the presentation); and

Our projected 2007 and 2008 EBITDA (as defined and reconciled to GAAP measures in the Supplemental Financial Information to the presentation)

Our estimate of market shares of worldwide work class ROV fleet for us and our competitors, in total and for drill support and construction/field maintenance presented in the in the Supplemental Market Information to the presentation;

Worldwide Umbilical Market Overview presented in the Supplemental Market Information to the presentation; and

Subsea Hardware Outlook Summary presented in the Supplemental Market Information to the presentation.

worldwide demand for oil and gas;

general economic and business conditions and industry trends;

the ability of the Organization of Petroleum Exporting Countries, or OPEC, to set and maintain production levels and pricing;

the level of production by non-OPEC countries;

domestic and foreign tax policy;

laws and governmental regulations that restrict exploration and development of oil and gas in various offshore jurisdictions;

rapid technological changes;

the political environment of oil-producing regions;

the price and availability of alternative fuels; and

overall economic conditions.

/S/ MARVIN J. MIGURA