TIDEWATER INC — Director's Dealing 2006

Jul 28, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2006-07-28

Reporting Person: TAYLOR DEAN E (Director, Chairman, CEO, & President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-07-28	Common Stock	G	801	—	Disposed	74324	Direct
2006-07-28	Common Stock	G	801	—	Acquired	5757	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3628	Indirect

Footnotes

F1: Gift of shares to minor children.

F2: The reporting person disclaims beneficial ownership of these shares and this report should not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes for Section 16 or any other purpose.

F3: Acquired on a periodic basis by the Trustee of the Tidewater Inc. 401(k) Savings Plan. Includes shares acquired for my account through June 30, 2006.