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Canyon Offshore Takes Delivery of Quest 3

Maritime Activity Reports, Inc.

May 1, 2002

Canyon Offshore has taken delivery of its third Quest electric work class ROV system. The Quest, depth rated to 3,050 msw, incorporates many new features and technology not previously found in work class ROVs. Increased efficiency, lower operating costs and greater reliability, have contributed to the success of these new systems. This environmentally friendly ROV can perform tasks for a wide range of functions, including offshore oil exploration and production support, salvage, mapping, remote tool deployment and object recovery. As the launch customer for the Quest, Canyon received the first two systems last year, and both have been in high demand ever since. With operations in the Gulf of Mexico, Asia Pacific, and the North Sea, Canyon Offshore, a member of the Cal Dive Group, provides ROVs, manpower, and subsea intervention support for all phases of deepwater exploration, drilling, construction and production, as well as pipeline/cable trenching and burial. Canyon Offshore also announces that the M/V Northern Canyon, on long term charter from Trico Marine Operator, Inc., has left the builder’s dock and is near completion. Naming ceremonies and official handover to Canyon Offshore will take place on June 1, 2002 in Bergen, Norway. The UT 745 design DP-2 Multi-Service Vessel (DPMSV) is being outfitted to provide deepwater intervention support on a global basis. The vessel can be outfitted with multiple work class ROV and trenching spreads from Canyon Offshore, and will include a 50-ton active heave compensated offshore crane, moonpool and accommodations for 58 persons. The Northern Canyon is available for offshore operations from June 15, 2002.

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