Website: www.gulfmark.com

GMRK Investor Highlights

• Announced the strongest second quarter results in Company history of $8.3 million in net income, or $0.40 per share (diluted) on record quarterly revenues of $51.3 million. This compares to a net loss of ($1.1) million, or ($0.06) per share (diluted) on revenue of $32.2 million for the second quarter of 2004.
• Mr. Bruce Streeter, President and COO of the company commented: ``The record-breaking revenues reported in the second quarter reflect the strong day rates and higher utilization in all of our operating regions, especially the North Sea. In this region, which continues to comprise a significant part of our business, recent rates on term contracts are above the levels attained in any previous period and appear to be trending upward.
• The Company expects the balance of 2005 and 2006 to show continued improvement as orders for the second half of 2005 and all of 2006, are well above the historic high levels reached in 2001-2002. Drilling rig fixtures are extending well into the future with contracts into 2007 and beyond.
• Provides marine transportation services to the energy industry through a fleet of fifty-six (56) offshore support vessels, primarily in the North Sea, offshore Southeast Asia, and the Americas.

Overview

GulfMark Offshore (GMRK) provides marine support and transportation services to companies involved in the offshore exploration, and production of oil and natural gas. Its fleet of vessels offers various services that support the ongoing operation and construction of offshore oil and natural gas facilities; and drilling rigs, including the transportation of materials, supplies, and personnel, as well as the positioning of drilling structures. The company also provides management services to other vessel owners. Its fleet consists of various types of vessels that include platform supply vessels; anchor handling, towing, and supply vessels; construction support vessels; standby rescue vessels; crewboats; specialty vessels; and utility vessels. The company’s customers primarily include integrated oil and gas companies, independent oil and natural gas exploration and production companies working in international markets, and foreign government-owned or controlled oil and gas companies, as well as companies that provide logistic, construction, and other services to such oil and gas companies and foreign government organizations. GulfMark operates in the North Sea, offshore southeast Asia, offshore India, Brazil, and west Africa. The existing fleet is 56 vessels.

Estimates 

Three Month Chart

Management

Bruce A. Streeter President/Chief Operating Officer/Director

Bruce A. Streeter has served as President and Chief Operating Officer of the Company since January 1997. He was elected as director of the Company in April 1997. He served as President of the Predecessor's Marine Division from November 1990 until the Merger. Prior to November 1990, Mr. Streeter was with Offshore Logistics, Inc. for a period of twelve years serving in a number of capacities including General Manager Marine Division.

Edward A. Guthrie Executive Vice President - Finance/ Chief Financial Officer

Edward A. Guthrie was elected Executive Vice President - Finance, Chief Financial Officer, Secretary and Treasurer of the Company in July 1999. Prior to that date, Mr. Guthrie served in a number of capacities with Cliffs Drilling Company ("Cliffs") and its former parent company for a period of 25 years, most recently serving as Vice President-Finance and Chief Financial Officer prior to Cliffs' merger with R&B Falcon Corporation.

John E. (Gene) Leech Executive Vice President - Operations

John E. (Gene) Leech was named Executive Vice President - Operations of the Company in February 2001 after having served as Vice President - Operations from January 1997. He served as Vice President of the company's predecessor's Marine Division from its formation in November 1990. 

GulfMark Offshore
10111 Richmond Ave., Suite 340
Houston, TX 77042
Phone: 713 963 9522
Fax: 713 963 9796

gmrk@gulfmark.com

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