Flotation Technologies

Oceaneering Chooses Flotation Technologies for the Distributed Buoyancy Modules on the Basker-Manta Umbilicals

Houston, TX — July 7th, 2005 — Flotation Technologies, Inc., a global leader in deepwater buoyancy systems, today announced the contract award for Distributed Buoyancy Modules from Oceaneering Multiflex UK to be used on the production control umbilicals for the Basker-Manta project, offshore south eastern Australia.

The Basker-Manta fields are located in approximately 200 m of water in the Gippsland Basin, offshore Victoria. Anzon Australia acquired a 100% interest in the Victorian Retention Leases VIC/RL 6, VIC/RL 9 and VIC/RL 10, which include the Basker, Manta and Gummy fields (the BMG Fields), from Woodside Eastern Energy Pty Limited. Anzon Australia is 75% owner and operator of the Basker-Manta fields with Beach Petroleum owning remaining interest.

“We are pleased to add Basker-Manta to our growing list of projects," commented Fred Maguire, Sales and Marketing Manager for Flotation Technologies. "As we continue to extend our reach into the engineered products market we are continuously demonstrating that the Flotation Technologies is an effective and cost efficient choice in the industry.”

About Flotation Technologies
Flotation Technologies, Inc. is a world leader in the design, manufacture, and marketing of deepwater buoyancy systems using high-strength Flotec™ syntactic foam and polyurethane elastomer products. Providing quick-turnaround custom engineering and fabrication to the Offshore Oil, Oceanographic, Seismic and Government markets, Flotation Technologies delivers consistently reliable buoyancy for a host of marine applications. Flotation Technologies manufactures such innovative products as flexible riser buoyancy, modular buoys of any size, ADCP buoys, ROV/AUV buoyancy modules, pipeline/sled buoyancy, QuickLoc™ cable floats, Hardball™ umbilical floats, FLOTECT™ cable and pipeline protection, and elastomeric bend stiffeners and restrictors. For more information on Flotation Technologies visit www.flotec.com.

Media Contact:
Fred Maguire, Sales & Marketing Manager
Flotation Technologies, Inc.
207.282.7749/fmaguire@flotec.com

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