(State or other jurisdiction

of incorporation)

(IRS Employer

Identification No.)

11911 FM 529

Houston, TX

Our expectation that our 2010 earnings per share will be $3.25 to $3.55;

Our segment operating income guidance for 2010 compared to 2009, with projections that ROVs and Subsea Products will be up, Inspection will be flat, and Subsea Projects and MOPS will be down;

Our 2010 projected cash flows, defined as net income plus depreciation and amortization, of over $300 million;

Our belief that we will have ample resources to invest in growth;

Anticipated deepwater discoveries to be evaluated and developed;

Floating rigs expected to be placed in service during 2010;

Future floating rig demand, 2010 – 2012, and our belief that floating rig demand will drive future demand growth in ROV services and subsea hardware;

Expected 2010 ROV increases in days on hire, by adding 15 to 20 new systems in 2010;

Our expectation that we will continue to expand our ROV fleet for both drill support and construction service, and add more ROVs on 3^rd party vessels;

Our expectation that 2010 ROV operating income will exceed that of 2009 based on an increase in days-on-hire;

Expected increase of over 50% in subsea completions in the decade commencing 2010;

Subsea tree orders forecast to be up approximately 40% in the period 2010 – 2013 compared to the period 2005 – 2009;

Expectation that 2010 Subsea Products operating income will be higher than that of 2009, due to manufacturing process improvements and cost reductions implemented in 2009, increased umbilical plant throughput and higher ROV tooling rentals and subsea field development hardware sales;

Projected cumulative subsea completions in the Gulf of Mexico through 2014;

Our intention to return our vessel The Performer to the Gulf of Mexico if pursuit of other international work is unsuccessful;

Our expectation that 2010 Subsea Projects operating income will be lower than 2009, due to the completion of the current contract for The Performer in March 2010; a softer market for our deepwater vessels in the Gulf of Mexico; continued decline in hurricane-related diving work; and higher vessel drydock expenses;

Our projected 2010 net income plus depreciation and amortization in the Supplemental Financial Information, defined as cash flow in the presentation;

Our projected 2010 EBITDA (as defined and reconciled to GAAP measures in the Supplemental Financial Information to the presentation); and

Subsea production control umbilicals orders forecast to be up approximately 30% in the period 2010 – 2014 compared to the period 2005 – 2009 in the Supplemental Financial Information.

worldwide demand and prices for oil and gas;

general economic and business conditions and industry trends;

delays in deliveries of deepwater drilling rigs;

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;

the ability of oil and gas companies to generate funds for capital expenditures;

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;

changes in competitive factors;

changes in project designs or schedules;

contract cancellations, change orders and other modifications; and

difficulties executing on projects.