Spanish Ship Project in Louisiana

[old man]

I want to put a feeler out to anyone that thinks that can come up with a big enough boat and the people and equipment to work a permitted site in Louisiana. A friend of mine claims to have the permits to salvage a Spanish Treasure ship there. It hasn't been worked as of this date. Obviously he is going to want to be compensated from any of the artifacts that are recovered. He is going to be involved in several projects a great deal south of there and can't work the wreck at this time.
Due to the warmer climate, should this be another forum project or does someone have the resources to take on the project. Let me know what everyone thinks. He as offered the site to me. 8)
Old Man

 

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[Mackaydon]

Old Man, my friend;

Where do I begin........
1. Your friend has a permit; to do what? Search, salvage or both?
2. When does it expire?
3. What is the division, if stated?
4. What are the requirement within the permit, if any, regarding setting up conservation facilities, etc.
5. Assuming there is a division, how it the division set up; in cash or 'in-kind'?
6. If in cash, who is going to do the appriasal?
7. What rights do you have to protest the appraisal?
8. What is the agreed time period between recovery and division? 30 days, 1 yr., not determined?
9. What reserarch, if any, has been done to determine the name and cargo of the vessel?
10. Did that research give your friend the vessel's name and list of manifested cargo?
11. What depth is suggested? (Regular scuba, mixed gases, submersibles only or what?)
12. What percentage of the pie is left after the government's share? What does your friend expect?
13. How often can there be a division? Every 30 days notwithstanding the possible ongoing nature of
the project? One yr later? Only after 100% recovery? Or when?

I think you get my drift. If a deal is to be made, I'd expect anyone seriously interested would have at least this partial list of Questions before determining to 'jump in' or stay dry with thisnvestment 'opportunity'.

If I had to put a dollar amount against each of these items that would represent what it has cost me NOT to have those items on my list, I could have retired by today. Hope this partial list saves a lot of time......and money.
All the best,
Don......

 

[old man]

Don, My friend. I have contacted the friend and expect to recieve a copy of his research and permits in the next day or two. As of right now, I know that he has located the wreck, it is in shallow water, he knows the name of it and his permits are for search and salvage. I would venture to guess that if someone is going to sub-contract the wreck, the only one that would have to wait for a share of what is recovered is my friend, since all he is going to get is a finders fee of what is recovered. Yoy do make many valid points for anyone that is interested in salvage.

Old Man