TIDEWATER INC — Director's Dealing 2007

Jul 6, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2007-07-06

Reporting Person: BENNETT JOSEPH M (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-06	Common Stock	M	10000	$44	Acquired	36011	Direct
2007-07-06	Common Stock	S	10000	$73.45	Disposed	26011	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-06	Stock Option (Right to Buy)	$44	M	10000	Disposed	2011-03-29	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2434.3896	Indirect

Footnotes

F1: The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan previously entered into by the Reporting Person.

F2: The options vested in three equal annual installments beginning on the date indicated.

F3: Acquired on a periodic basis by the Trustee of the Tidewater Inc. 401(k) Savings Plan. Includes shares acquired for this account through June 30, 2007.