3SOF

bizjournals.com
Horizon plans reverse stock split
Wednesday March 22, 12:36 pm ET


Horizon Offshore Inc. is planning a 1-for-25 reverse stock split following the close of business on April 12.
The reverse stock split is expected to begin trading on a split-adjusted basis on April 13 on the Over-the-Counter Bulletin Board. The split has already been authorized by the company's board of directors and approved by written consent by the holders of approximately 72.1 percent of its outstanding common stock.

In conjunction with the reverse stock split, Horizon's board of directors and holders the outstanding common stock also approved reducing the number of authorized shares from 1.5 billion to 100 million.

In the reverse split, each 25 shares of issued and outstanding common stock will be converted automatically into one share of common stock.

The number of outstanding shares of common stock will be reduced from 759.6 million as of March 21, 2006 to 30.4 million shares outstanding post split.

Based in Houston, Horizon (OTCBB: HOFF - News) and its subsidiaries provide marine construction services for the offshore oil and gas and other energy related industries.

Published March 22, 2006 by the Houston Business Journal

MACD seems to have bottomed, stochastic in oversold area turning north

Technicals
Close Above the 50-day EMA
Close Above the 13-day EMA
Percentage Gainer

Last Price Quote is:
7.69%above 13-day EMA
4.01%above 50-day EMA
RS Rating: 97 

Fundamentals
Key Data:
Market Cap (M): $153.20 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Market Underperform

I think it is over $1.00 to stay....
Getting recognized as a survivor....

Time to breath the breath 'o life back into HOFF?

Note: will do a reverse 1-25 stock split tomorrow.
Up on guidance of April 5th.

• Horizon Offshore Provides First Quarter and Fiscal Year 2006 Financial Guidance
PrimeZone Media Network (Wed, Apr 5) 
Link.....  http://biz.yahoo.com/pz/060405/96853.html

New recent 52 wk high 

Technicals
Last Price Quote is:
29.44%above 13-day EMA
46.24%above 50-day EMA
RS Rating: 98 

Fundamentals
Key Data:
Market Cap (M): $873.58 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Market Underperform

Was HOFF.OB, listed on the OTCBB
Had the reverse 1-25 stock split, was listed as HRZO.OB for a short time on the OTCBB .
Now listed on the Nasdaq.....Under Ticker Symbol.....HOFF !




bizjournals.com
Nasdaq gives nod to Horizon's return

More than a year after dropping off Nasdaq's radar, Horizon Offshore Inc. is coming back into view on the exchange.
The company's shares, after recently trading on Over-the-Counter Bulletin Board market, will begin trading Monday on the Nasdaq National Market under the symbol "HOFF."
 
The Houston-based marine construction services company voluntarily dropped itself from the exchange in March 2005 after getting pounded by consecutive quarterly losses and haunted by a Nasdaq delisting warning in August 2004 for failing to meet the $1 minimum bid price per share requirement for continued listing.

Horizon said it opted for such a move then to avoid the lengthy delay associated with obtaining stockholder approval required under Nasdaq rules to issue common stock and convertible preferred stock in the debt-for-equity exchange component of its proposed recapitalization. The company fought its way back onto the exchange through a series of management shake-ups, stock splits and plans to pay down debt.

Last month, the company reported that it swung from a year-ago first-quarter loss to a profit in this year's first quarter. Earnings came in at $15.5 million, or 51 cents per share, compared with a loss of $15.5 million, or $12.01 per share. Contract revenue rang up at $129.9 million, more than triple than the $37.3 million in revenue the company booked for the first quarter of 2005.

Horizon's rebound signals the financial recovery that has earned the company a return to the Nasdaq, where companies tend to prefer the liquidity and status of being on the exchange.

"Listing on this market should improve the liquidity of our common stock, provide us with greater visibility, and expand the base of potential investors for our stock, which we believe will help us enhance stockholder value," said Horizon President and CEO David W. Sharp.

Horizon (OTCBB: HRZO - News) serves the offshore oil and gas industry with a variety of operations, including installing and repairing marine pipelines and installing and abandoning production platforms.

Published June 9, 2006 by the Houston Business Journal

No longer an OTCBB
Now listed on the Nasdaq......Symbol....HOFF
I will get Ramsburgh to move this to The Stock Picking Board.

AP
Cal Dive Buying Horizon Offshore
Tuesday June 12, 8:07 am ET 
Helix's Cal Dive Buying Horizon Offshore in Cash-And-Stock Deal Worth $628 Million


HOUSTON (AP) -- Cal Dive International Inc., which contracts diving and pipe-laying services for oil and natural gas companies, has agreed to buy Horizon Offshore Inc. in a cash-and-stock deal worth $628 million.


Including $22 million in assumed debt, the transaction is valued at $650 million and includes about $302.5 million in cash. The deal values Horizon's stock at $19.25 per share, a 14 percent premium to the stock's Monday closing price of $16.95, and an 18 percent premium to its 30-day average trading price.

Cal Dive said it will finance the cash portion of the acquisition through borrowings, and the equity portion with about 20.4 million shares of its common stock.

The company said the acquisition will diversify its vessel fleet as well as boost international growth opportunities. The deal also is expected to add to Cal Dive's cash flow.

The combined company will operate a fleet of 23 diving support vessels, seven pipelay/pipebury barges, one dedicated pipebury barge, one multi-service vessel, one combination derrick/pipelay barge and two derrick barges.

The boards of both companies unanimously approved the transaction, which is expected to close in the third quarter, subject to regulatory clearance and Horizon stockholder approval.

Horizon said a "go shop" provision in the agreement allows it to actively seek alternative bids until July 27.

Horizon will be required to pay Cal Dive a termination fee of about $9.4 million if its board accepts another offer.

Following the transaction, Cal Dive's Quinn Hebert will continue to serve as president and chief executive of the combined company, and the Cal Dive board will be expanded to include two Horizon directors for a total of 8 members. The combined company, 80 percent of which will be owned by Cal Dive shareholders, will continue to be based in Houston.

Cal Dive is a unit of Houston-based offshore energy company Helix Energy Solutions Group Inc. The deal will lower Helix's majority stake in Cal Dive to about 59 percent from 73 percent.

Cal Dive International (DVR) set plans to acquire Horizon Offshore (HOFF) in a deal that will combine two companies that provide construction services for the offshore oil and gas industry.
The purchase will be made with a combination of Cal Dive stock and cash. Each Horizon share will be valued at $19.25, a 14% premium to Monday's close. The transaction is worth roughly $650 million, including around $22 million of Horizon's net debt.

The agreement gives Horizon until July 27 to actively seek alternative acquisition proposals.

Below charts on the two.......

52wk Range: 12.50 - 24.00
Volume: 5,651,332
Avg Vol (3m): 393,558

Technicals
Gap Up
Percentage Gainer

Last Price Quote is:
10.78%above 13-day MA
16.25%above 50-day MA
RS Rating: 94 

Fundamentals
Key Data:
Market Cap (M): $552.30 
P/E Ratio: 9.97 
PEG Ratio: N/A 
Next Earnings: 08/06/2007
Last Analyst Rating: Buy