Odyssey Marine Exploration, Inc., together with its subsidiaries, is engaged in the archaeologically sensitive exploration and recovery of deep-ocean shipwrecks worldwide. Search Operations Shipwreck or geological deposit search operations are conducted from a research vessel fitted with survey equipment and a remotely operated vehicle (ROV). The company’s ships are capable of conducting deep-sea search operations and have been deployed worldwide - in the English Channel, the Mediterranean Sea, and the Atlantic and Pacific Oceans. A search begins with a side-scan sonar survey of the target area, which is sometimes coupled with a magnetometer survey, multi-beam bathymetric survey or other acoustic or geophysical survey technologies. The interesting anomalies on the ocean floor are then inspected visually with a ROV, which sends real-time video images to monitors on the survey vessel for observation by the scientific and technical teams. These images are also downloaded and saved for additional evaluation onshore. Archaeological Excavation and Recovery Archaeological excavation and recovery operations are conducted on historic shipwreck sites and combine ROVs with positioning systems, cameras, and specialized computer hardware and software to record the location of artifacts in situ and to document the entire archaeological process as the artifacts are recovered from a shipwreck site. The company’s ROV pilots are directed by marine archaeologists aboard the recovery vessel. The Odyssey Explorer, a 251-foot Class II dynamically positioning ship, serves as the company’s deep-ocean archaeological platform for shipwreck exploration. The centerpiece of the company’s advanced robotic archaeology system is the ROV, which serves as the archaeologist’s eyes and hands in the deep ocean. It owns two work-class ROVs, nicknamed ZEUS and ZEUS II. The 200HP and 400 HP vehicles, respectively, each stand approximately 10 feet high and weigh 8 tons. Both ROVs have been custom-designed for deep-ocean archaeological survey and recovery operations, including visual inspection, pre-disturbance photographic and video documentation, scientific excavation, and artifact recovery. The company also owns a deep-sea ROV nicknamed Clio, capable of operating at depths approximately 6,000 meters. Deep-Ocean Mineral Exploration The company advances the science of exploration and assessment of seabed mineral deposits. It has a charter on the RV Dorado Discovery, a research vessel custom fitted to conduct deep-ocean mineral exploration. In 2014, the company completed installation and testing of a new advanced one-pass drill on the ship. There are three seabed mineral resources being explored by the company, such as seafloor massive sulphides, phosphorites, and polymetallic nodules. The company provides exploration services, including geophysical and geotechnical assessments of seabed mineral deposits to companies, including its subsidiaries and companies in which the company holds an equity position, as well as governments worldwide as a full-service contractor or as a resource development partner. Operational Projects and Status The company has various shipwreck and other deep-ocean projects in various stages of development worldwide. SS Central America Project The company has been awarded a contract to conduct an archaeological excavation and recover the remaining valuable cargo from the SS Central America shipwreck located approximately 160 miles off the coast of South Carolina. The company is preparing its recovery vessel, the Odyssey Explorer, to begin recovery operations on the site in April utilizing the company’s own equipment and personnel. The SS Central America is discovered at a depth of approximately 2,000 meters (7,200 ft.). ‘Atlas’ Search Project The company searched approximately 5,000 square nautical miles of seabed in the western English Channel and the Western Approaches to the Channel, recording approximately 300 shipwrecks. The shipwrecks discovered include site ‘35-F’, the Marquise de Tornay, and HMS Victory (1744), as well as other identified and unidentified shipwrecks. Operations in the ‘Atlas
odyssey marine exploration
(OMEX:Consolidated Issue listed on NASDAQ Capital Market)
5215 West Laurel Street
Tampa, FL 33607
|Price/Cash Flow||NM||Not Meaningful|
Sponsored Financial Commentaries
To contact ODYSSEY MARINE EXPLORATION, please visit www.shipwreck.net. Company data is provided by Capital IQ. Please use this form to report any data issues.