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Superior Offshore International Inc. Announces Management Team Additions to Lead Global Subsea Operations(PrimeNewswire Via Thomson Dialog NewsEdge) HOUSTON, Nov. 14, 2007 (PRIME NEWSWIRE) -- Superior Offshore International, Inc. (Nasdaq:DEEP) today announced four new appointments to its global management team as well a senior management promotion. "The appointment of this new management team is an important step in our strategic transition from a shallow water diving company to a leading provider of subsea construction and commercial diving services to the global offshore oil and gas industry," said Jim Mermis, Superior Offshore president and chief executive officer. "We are now poised to go forward with providing expanded expertise and resources to the global subsea market in the Middle East, West Africa, Southeast Asia and Mexico." Steve Singer, Vice President -- Corporate Development and Tax, was promoted to Senior Vice President, General Counsel and Secretary. Singer joined the Company in July 2007 and reports to Roger Burks, Superior's Executive Vice President and Chief Financial and Administrative Officer. Tom Armstrong joined Superior as Vice President -- Special Projects. Based in Houston, he will be responsible for managing the integration of the Superior Achiever DP-III vessel, which is scheduled for delivery in the second half of 2008. Armstrong has 19 years' experience as a diver and operations manager with several companies, including CalDive International, Torch Offshore, Stolt Offshore and American Oilfield Divers. He reports to David Weinhoffer, Executive Vice President -- Commercial Operations. Phil Doyle joined the Company as Vice President -- Americas, responsible for diving operations in North and South America. Doyle has more than 16 years of diving and diving operations management experience and formerly served as Global Divers & Marine Contractors' manager in charge of West Africa and Mexico. He is based in Houston and reports to Weinhoffer. Richard Deitl Jr. has joined the company as Vice President of Superior's Middle East/Africa diving services, reporting to Weinhoffer. He is based in Houston and will be responsible for business development in those international markets. Deitl formerly served as Global Industries' regional manager in charge of West Africa diving operations and has more than 17 years of diving management experience in Africa. John Whites III joined Superior as Vice President -- Business Development, based in Houston. Whites started his career in the petrochemical industry as a design engineer and project manager, then moved into the offshore pipeline industry. He has worked in the offshore industry in both the domestic and international markets for such companies as Cameron, Gripper/Hydrotech, Big Inch Marine Systems/American Oilfield Divers and most recently, Submar, Inc. Whites reports to Weinhoffer. About Superior Offshore International, Inc. 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 11 service vessels and provides remotely operated vehicles (ROVs) and saturation diving systems for deep water 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 projected 2007 revenues; expected drydocking schedules and the dates vessels and equipment will be placed in service; expectations regarding demand for our services, operating revenues and other matters with regard to the outlook of our business and industry; our strategy, including the expansion and growth of our operations; and our plans, expectations and any effects of expanding our deepwater capabilities and pursuing international growth opportunities. 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, 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. CONTACT: Superior Offshore International Roger Burks, CFO 713-910-1875 [email protected] DRG&E Ken Dennard [email protected] Anne Pearson [email protected] 713-529-6600 Copyright 2007 PrimeNewswire, Inc. |