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Total Charters 'Sea Halibut' PSV

Deep Sea Supply 03-15-2007

Deep Sea Supply has entered into a new charter with Total E & P Congo for "Sea Halibut"--the second PSV vessel delivered from Cochin Shipyard--for a period of 6 months (plus option of 3 + 3 months) from April 26, 2007.

The charter value for the firm period is approximately US$6.2 million, including the fee for mobilization and demobilization (net of withholding tax).

"Sea Halibut"` is expected to be delivered from Cochin Shipyard early May 2007. The AHTS vessel "Sea Bear" will hence be the forerunner until "Sea Halibut" arrives in Congo (expected approximately May 15, 2007).