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Gold/Mining/Energy : OMEX - Odyssey Marine Exploration Inc

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To: ChrisJP who started this subject9/29/2003 10:10:23 PM
From: ChrisJP   of 61
 
Sept. 23, 2003: The Odyssey Explorer Heads to Sea

biz.yahoo.com

TAMPA, Fla.--(BUSINESS WIRE)--Sept. 23, 2003--Odyssey Marine Exploration, Inc. (OTCBB:OMEX - News), a leader in the field of deep ocean shipwreck exploration, has completed the shoreside mobilization of the company's recently acquired ship, Odyssey Explorer. The ship left port on Sunday to conduct sea trials of the ship and ROV system before heading to the shipwreck site believed to be SS Republic.
The Odyssey Explorer is a 251 foot Class II dynamically positioned (DP) ship and state-of-the-art deep ocean archaeological platform. The centerpiece of Odyssey's system is ZEUS, a seven ton, 205 horsepower remotely operated vehicle (ROV). ZEUS is rated to 2,500 meters (8,200 ft) and has two Schilling seven-function Conan Force-Feedback manipulators, which provide for exceptional dexterity and fine control of delicate archaeological procedures.

Additional sea-bottom site measurement and positioning technology as well as archaeological recording and logging equipment have been integrated into the system to perform detailed archaeological excavation of the site.

The SS Republic was a sidewheel steamer that was lost in deep water in 1865 after battling a hurricane for two days. All the crew and passengers made it safely off the vessel, although a number of passengers eventually died on one of the rafts before they could be rescued. The ship, en route from New York to New Orleans, was reportedly carrying $400,000 in gold specie. Dr. Donald Kagin, considered one of the nation's foremost experts on American gold coins from that period, has estimated that the potential retail value of these coins in today's market could reach $120 million or more.

Pictures from the mobilization of the Odyssey Explorer and ZEUS are available at shipwreck.net.
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