X0202 4 2006-01-27 0000009822 BARAGA COUNTY LIGHT & POWER CO TDW 0001197253 TAYLOR DEAN E C/O TIDEWATER INC. 601 POYDRAS ST., SUITE 1900 NEW ORLEANS LA 70130 1 1 0 0 Chairman, CEO & President Common Stock 2006-01-27 4 M 0 10000 39.00 A 57161 D Common Stock 4131 I As Custodian for Children Common Stock 3584 I By Trustee Employee Stock Option (Right to Buy) 39.00 2006-01-27 4 M 0 10000 D 2006-03-26 Common Stock 10000 0 D Exercise of employee stock options granted under Tidewater Inc. 1992 Stock Option and Restricted Stock Plan. Includes 34 shares acquired pursuant to dividend reinvestment plan. The reporting 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 of Section 16 or any other purpose. Acquired on a periodic basis by the Trustee of Tidewater 401(k) Savings Plan. Includes shares acquired for my account through December 31, 2005. Exercisable in 3 annual installments beginning March 26, 1996 Dean E. Taylor, by: Michael L. Goldblatt, Agent and Attorney-in-Faxt 2006-01-31