Odyssey Marine Exploration Purchases Additional Vessel; New Ship Expands Company's Shipwreck Search Capabilities
June 27 2006 - 12:03PM
Business Wire
Odyssey Marine Exploration, Inc. (AMEX:OMR), a leader in the field
of deep-ocean shipwreck exploration, has purchased an additional
ship similar in size to the Odyssey Explorer. This ship has
completed preliminary mobilization and will be equipped with a
state-of-the-art side-scan sonar system and a Remotely Operated
Vehicle (ROV) to conduct search operations and target inspections.
"As we focus our efforts on our core business -- finding and
recovering shipwrecks around the world -- expanding our operational
capabilities with an upgraded search and ROV operations platform is
a key component in our long-term business strategy. This new vessel
is a flexible and extremely stable platform and will provide us
with worldwide heavy weather operational capability as our primary
search and target inspection vessel, while still being available as
needed for other operations," said Greg Stemm, Odyssey's
co-founder. "The addition of this ship means we will have three
major expeditions going on this year, which will be a 'first' for
Odyssey." About Odyssey Marine Exploration Odyssey Marine
Exploration is an American Stock Exchange Company with several
shipwreck projects in various stages of development throughout the
world. Additional information about Odyssey, its projects,
methodologies and technologies, is available at
http://www.shipwreck.net. For additional information, please
contact John McNeilly, Odyssey's Manager of Corporate
Communications, at 813-876-1776. Odyssey Marine Exploration
believes the information set forth in this Press Release may
include "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Act of
1934. Certain factors that could cause results to differ materially
from those projected in the forward-looking statements are set
forth in "Risk Factors," and "Business" in the Company's annual
report on Form 10-K for the year ended December 31, 2005, which has
been filed with the Securities and Exchange Commission.
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