TIDEWATER INC — Director's Dealing 2007

May 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2007-05-18

Reporting Person: DICK STEPHEN W (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-18	Common Stock	I	2901.0673	$66.54	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	42022	Direct

Footnotes

F1: Acquired on a periodic basis through April 30, 2007, by the Trustee of the Tidewater Inc. 401(k) Savings Plan.