TAMPA, Fla.--(BUSINESS WIRE)--Dec. 9, 1997--Seahawk Deep Ocean
Technology (OTC BB:SDOT.O), the Tampa-based oceanographic company that
specializes in the search and recovery of deep water shipwrecks,
announced Tuesday that it has entered into an agreement to search for
a shipwreck which sank in the Caribbean Sea less than 25 years ago
and with a reported cargo of over 33 tons of gold bullion.
Seahawk will participate in the project together with its joint
venture partners, Brown House and Discovery International of Turks
and Caicos. The company will have a share in any successfully
recovered gold together with its partners. Under the terms of the
agreement Seahawk is also contracted to provide all the search and
identification services which will include the company's customized
research vessel, R/V Seahawk, outfitted with side scan sonar and
remotely operated vehicles capable of operating in water depths of
3000 feet. The R/V Seahawk has recently been fully refurbished ready
for this project. The vessel will sail from Tampa on Dec. 10, 1997.
Seahawk has searched for and found a number of shipwrecks since
it was formed in 1989. The company is involved in a variety of
shipwreck projects around the world from the eastern seaboard of the
United States, to the Caribbean and South America. Seahawk is also a
member of a consortium which is currently searching for a valuable
shipwreck in South American waters and is independently seeking a
permit to search the waters off an island in the Azores which,
according to the company's research, contain a quantity of valuable
colonial shipwrecks. The new Caribbean project means that Seahawk is
concurrently searching for three valuable cargoes of gold.
--30--cp/mi*
CONTACT: Seahawk Deep Ocean Technology Inc., Tampa
John Lawrence, CEO
Tel: 813/832-4040
Fax: 813/831-6355
KEYWORD: FLORIDA
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