TIDEWATER INC — Director's Dealing 2006

Aug 30, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2006-08-29

Reporting Person: MADONNA JON C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-29	Common Stock	M	3000	$29.44	Acquired	5000	Direct
2006-08-29	Common Stock	M	2500	$32.44	Acquired	7500	Direct
2006-08-29	Common Stock	M	2500	$35.29	Acquired	10000	Direct
2006-08-29	Common Stock	M	2500	$25.84	Acquired	12500	Direct
2006-08-29	Common Stock	M	5000	$27.92	Acquired	17500	Direct
2006-08-29	Common Stock	M	5000	$28.05	Acquired	22500	Direct
2006-08-29	Common Stock	M	5000	$37.55	Acquired	27500	Direct
2006-08-29	Common Stock	S	400	$48.89	Disposed	27100	Direct
2006-08-29	Common Stock	S	2200	$48.70	Disposed	24900	Direct
2006-08-29	Common Stock	S	1100	$48.68	Disposed	23800	Direct
2006-08-29	Common Stock	S	600	$48.67	Disposed	23200	Direct
2006-08-29	Common Stock	S	2100	$48.66	Disposed	21100	Direct
2006-08-29	Common Stock	S	1000	$48.65	Disposed	20100	Direct
2006-08-29	Common Stock	S	200	$48.62	Disposed	19900	Direct
2006-08-29	Common Stock	S	2800	$48.60	Disposed	17100	Direct
2006-08-29	Common Stock	S	600	$48.58	Disposed	16500	Direct
2006-08-29	Common Stock	S	1000	$48.57	Disposed	15500	Direct
2006-08-29	Common Stock	S	500	$48.56	Disposed	15000	Direct
2006-08-29	Common Stock	S	1700	$48.55	Disposed	13300	Direct
2006-08-29	Common Stock	S	1400	$48.54	Disposed	11900	Direct
2006-08-29	Common Stock	S	500	$48.53	Disposed	11400	Direct
2006-08-29	Common Stock	S	300	$48.52	Disposed	11100	Direct
2006-08-29	Common Stock	S	2600	$48.50	Disposed	8500	Direct
2006-08-29	Common Stock	S	100	$48.49	Disposed	8400	Direct
2006-08-29	Common Stock	S	100	$48.48	Disposed	8300	Direct
2006-08-29	Common Stock	S	200	$48.46	Disposed	8100	Direct
2006-08-29	Common Stock	S	300	$48.45	Disposed	7800	Direct
2006-08-29	Common Stock	S	100	$48.43	Disposed	7700	Direct
2006-08-29	Common Stock	S	100	$48.42	Disposed	7600	Direct
2006-08-29	Common Stock	S	500	$48.40	Disposed	7100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-29	Option (Right to Buy)	$29.44	M	3000	Disposed	2009-07-27	Common Stock (3000)	Direct
2006-08-29	Option (Right to Buy)	$32.44	M	2500	Disposed	2010-07-27	Common Stock (2500)	Direct
2006-08-29	Option (Right to Buy)	$35.29	M	2500	Disposed	2011-07-26	Common Stock (2500)	Direct
2006-08-29	Option (Right to Buy)	$25.84	M	2500	Disposed	2012-07-25	Common Stock (2500)	Direct
2006-08-29	Option (Right to Buy)	$27.92	M	5000	Disposed	2013-03-12	Common Stock (5000)	Direct
2006-08-29	Option (Right to Buy)	$28.05	M	5000	Disposed	2014-03-30	Common Stock (5000)	Direct
2006-08-29	Option (Right to Buy)	$37.55	M	5000	Disposed	2015-03-30	Common Stock (5000)	Direct