Odyssey Marine Stock

[Salvor6]

Odyssey Marine Research stock has taken a nosedive. It went from $2.50 a share to $1.61 in only 2 weeks. It might be a bargain right now. If Odyssey finds something now their stock could go way up. Does anyone know what they are up to? Jeff are you watching this?

 

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[jeff of pa]

I havn't received a Press Release lately, Sorry.

Should be something from them soon.

 

[wreckdiver1715]

Keep the faith; I believe this is a buying opportunity that I am going to take advantage of. This will make the third time that I have bought into Odyssey, the first time they were still listed in the Pink sheets. Even though this drop is making my portfolio turn a little near-red, it’s not hemorrhaging just yet. It’s not just Odyssey that is dropping, the market overall is not performing all that well due to many reasons not directly related to company performance. However, losses during the last FY do raise concerns that should be weighed in any decision to purchase this or any stock.

 

[tezz5]

Odyssey lost over $30 million US last year,.,.,.,.Greg Stemm has not worked the Sussex,.,.,.he is now pursuing other things,.,.,.his company also lost heaps with Katrina and his show down south,.,.,.the company is on the red and will be for many years to come as it has incredible debts on its hands right now,..,,.anyone investing might want to invest in Enron at the same time,..,.,,.

 

[jeff k]

Wreckdiver is right, and the Sussex is not dead, just on hold. They will return to the Sussex shortly, and they're still working on the Atlas Project.

 

[jeff k]

The Odyssey Explorer will be back in Gibraltar in a few hours. Hopefully, they now have things worked out with the Andalusians, and can resume work on the Sussex.

 

[jeff k]

25 of 2006 July, 17h40

Cadiz. - The Meeting not yet has given permission to Odyssey to begin the explorations, although its intention is to allow them
SEVILLE, 25 (EUROPE PRESS)

The advisor of Culture, Rose Towers, affirmed today that the Meeting of Andalusia not yet has given to the North American company Odyssey Marine Exploration permission to begin the archaeological prospections in the Bay of Cadiz, since, at the moment, “it must correct some technical questions” of the project of exploration of the Sussex, although, it clarified that its intention is to allow them.

In declarations to Europe Press, Towers explained that the autonomic administration it asked for the company that came to the correction “from certain aspects and technical questions”, although, once corrected these points, the intention of Culture, according to it said, she is the one to give green light to the investigation “but only the archaeological one”, remarcó.

The holder of the branch guaranteed that its department “will watch the activity of Odyssey at any moment”, since technicians of the Council will have to travel in the North American ship and to supervise the works of exploration that are carried out water Andalusian.

As far as the supposed gold shipment that hides the sunk English water boat of Cadiz, Towers indicated that this subject and controlling that a possible extraction of the appraised metal does not take place “is a subject that is incumbent on to the Ministry of Outer Subjects”, reason why preferred not to pronounce itself.

The Meeting of Andalusia demanded new explanations to the American company on the degree of the experts who would participate in the plan of identification and on the area of performance where the North American company would make the prospection.

The Ministry of Outer Subjects clarified recently that in case finally the workings of identification of the “Sussex” are authorized and the results are positive, the Odyssey could soon extract pecio and its possible gold shipment without restrictions, as long as it has the necessary authorization of London.

“The Meeting will not have anything to say. First it is to see if the boat is or it is not and nothing removes, but to verify if one treats or not of the British ship. If it is thus, the Meeting will not be able to do nothing because the British will decide what he even takes control of the Spanish water ship being”, indicated from Exteriors.

The Ministry of Outer Subjects and Cooperation confirmed today that the “Odyssey Explorer” is in the port of Gibraltar to resolve “technical-administrative” questions and does not stop to make prospectivas activities in relation to pecio British “Sussex”, according to informed diplomatic sources to Europe Press.

Verdemar-Ecologist in Action assured this morning that had entered port of Gibraltar the “Odyssey Explorer”, that makes the archaeological works of the North American company Odyssey Marine Exploration (OMR) on the rest of the English boat “Sussex”.

 

[jeff k]

Re: Gibraltar Chronicle...

US TREASURE HUNTERS IN THE STRAIT
By Brian Reyes

When US treasure hunters arrived in the Strait of Gibraltar last January to excavate the wreck of an English galleon, the Junta de Andalucia voiced serious objections about the archaeological integrity of the project. For a while, the row threatened to spark a major diplomatic spat between London, Madrid and Gibraltar.


But now, after months of discussion behind the scenes, Odyssey Marine Exploration may be on the verge of winning over its Spanish critics.

In fact, it could even end up working for the Spanish regional government.

The company has agreed to carry out a detailed seabed survey of Spanish waters in the area, to map out cultural resources and help establish an adequate management plan.

The offer is part of a revised archaeological plan submitted by the company to address concerns in the Junta about its project to excavate the wreck of HMS Sussex, which lies just off Gibraltar.

Odyssey Marine has an exclusive agreement with the British Government to carry out work on the ship, which is believed to have sunk with a valuable cargo of coins.

But the Junta fears that the project may not comply with Spanish heritage laws. It says that raising gold from the seabed is incompatible with good archaeological practice.

Odyssey’s main aim over the past six months has been to ease those concerns.

It believes that deepwater archaeological research is an expanding field and that a positive balance can be struck between conducting heritage-sensitive excavation and securing a financial return for the companies involved in the work.

It says such projects are expensive and adds that deepwater wrecks would remain undiscovered were it not for the private companies willing to invest in the high-tech equipment necessary to do the job.

There are signs that those arguments are now starting to win through.

According to the company, the Junta’s initial response to Odyssey’s revised Sussex plan was good, though it has raised some additional technical concerns.

In early June, Odyssey provided clarification on those points to Spain’s Ministry of Foreign Affairs through the UK embassy in Madrid.

“As part of the archaeological plan, Odyssey has agreed to undertake additional survey operations in the area and to provide Andalucia with a detailed survey of the region’s underwater cultural heritage in deep water, as well as assistance in developing a plan for managing those resources,” the company said in a statement yesterday.

Odyssey said it continued to work in a cooperative manner with the Junta and the central Spanish government and was awaiting final comments on the plan before resuming operations on the shipwreck.

“Based on communications from the Spanish Government and other sources, the Company anticipates that the archaeological plan will be deemed acceptable and Odyssey plans to begin work on the Sussex project later in 2006, according to a schedule that allows Odyssey to continue work on one of its other projects until the weather window closes,” the company added.

 

[jeff k]

Well, I disagree with both of you guys. It's only a matter of time that they identify something in the Atlas area. When the weather turns bad there, they'll return to Gibraltar, probably in Oct/Nov.

 

[wreckdiver1715]

And me and my money (well, some of it), are with Odyssey Marine and Jeff K

 

[jeff k]

They can work the Sussex site year round. The ROV's can be operated safely in up to 12 foot seas.

 

[jeff k]

Odyssey has stated that in the past, so I'll take them at their word. Not all vessels and ROV's are alike, so your experience may be different.

 

[jeff k]

Maybe you should contact Odyssey, and ask them. They know more about it than I do.

http://shipwreck.net/contactus.html

 

[mariner]

I thought I had read somewhere that Odyssey were using manned submersibles, rather than just ROVs. Of course, you have to be even more careful if the thing you are putting in and taking out of the water contains a person.

Mariner

 

[jeff k]

Mariner... National Geographic used one when they filmed the Republic documentary, but Odyssey doesn't have any in inventory. By the way, they finally sold the RV Odyssey (Link's old ship).

 

[Jeffro]

Its a risk, it all is, but buying now at 1.61 when the 52week low is 1.52 seems like a good time to buy, barring any negative info, which I haven't seen so far. Any lawsuits, pending legislation that could be negative, etc.?

 

[Jeffro]

Some years ago before GPAA went public, we were all offered stock pre-IPO. Ridiculously low. I could kick myself in the butt for not swooping on it then, lol!

There's a reason the stock is so low now, not sure what it is.... maybe just been awhile since a good find? Sales of the Republic not going so hot? Operating costs escalating with oil prices? I dunno, gonna take a little research.

But on the other hand, the dealings I have had with this company, they seem to be run on the up and up. They are trying a different formula, kindof a mix between Treasure Hunting and Archaeology. And run by professionals, not fly-by-nights. I for one, hope they succeed.

Could be a good thing, could be a bad thing. Research is needed. I'll put a little in the pot if it looks OK to me.

 

[mariner]

I think that the Sussex deal is a huge asset for Odyssey, and it is the delays in recovering its cargo, particularly those caused by Andalusia, that has been the problem with regard to cash flow and profits. Meanwhile, Odyssey has kept gearing up its capital investment in ships and equipment to cope with what looks like a great set of further wrecks that they have located.

Long term, I am sure they will be very profitable, and in the meanwhile the problem is that stock price is often as much about people trying to make money out of the stocks as it is about the basic soundness of the company.

Time will tell.

Mariner

 

[SolomonKey]

Other than the Fisher organisation, is any treasure-hunting company making a profit?

 

[SolomonKey]

I hope it is fully insured.