ROVworld Subsea Information

Odyssey Marine Exploration's ship cleared
Date: Wednesday, October 24, 2007 @ 09:00:00 EDT
Topic: GENERAL NEWS


Odyssey Marine Exploration's ship clearedOdyssey Marine Exploration, Inc.'s (NASDAQ:OMEX) recovery vessel, Odyssey Explorer, has been cleared by a Spanish Judge and Harbor authorities to depart from the port of Algeciras, Spain after Spanish authorities conducted a thorough inspection of the ship. The ship will shortly be en route to another port where she will be mobilized and then resume shipwreck search and archaeological recovery operations.

Odyssey Explorer"We're pleased that the Spanish authorities were able to conduct their inspection so efficiently," commented Greg Stemm, Odyssey Co-Chairman and Co-Founder. "We hope that the evidence gathered makes it clear to authorities that we did not conduct any unauthorized operations in Spanish territorial waters, as alleged by outlandish claims made in the press. We also look forward to resolving any outstanding issues with the Kingdom of Spain over the Black Swan site in U.S. Federal Court in the near future and are prepared to share extensive documentation about the site pursuant to the offer made in our filings before the Judge.

"We have always shown the utmost respect for Spain's cultural heritage and are prepared to provide Spanish authorities with the archaeological data gathered about shipwreck sites discovered during authorized and legal operations in the deep waters of the Alboran Sea in the Western Mediterranean. This information will be useful in documenting and protecting these valuable sites in the future," commented Stemm.






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