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Ocean Resources Inc (fka OCRI) RSS Feed

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Ocean Resources, Inc. is engaged in the business of deep water research, exploration, survey, and recovery operations of valuable shipwrecks. The Company's wholly-owned subsidiaries include: Ocean Operating, Inc., a Texas company, Caribbean Exploration, Inc., a Texas corporation, and Blue Ocean Technologies, LLC, a Texas limited liability company. Authorized Shares: 150,000,000 Source: 10QSB ( 02/22/2005 ) Outstanding Shares: 121,290,412 Source: 10QSB ( 02/22/2005 ) --------------------------------------------------------------- "Argosy International surrendered 7,016,671 OCRI common shares during fiscal 2004 in exchange for a warrant to purchase 1,000,000 common shares at $0.40 per share. The warrant expires October 2007." 2004..."Ocean Resources has the rights to a number of identified shipwrecks, bearing an estimated total of $100+ million in commodity-grade metals to be recovered over the coming three and one half years." --------------------------------------------------------------- Ocean Resources, Inc. Dispels Rumors of Sale, Dividend Monday , May 09, 2005 13:57ET DALLAS, May 09, 2005 (BUSINESS WIRE) --Ocean Resources, Inc. (OTCBB:OCRI) management today stated that there are no plans to sell the Company, nor issue a dividend, contrary to information that has appeared in some media outlets. Ocean Resources, Inc. is a maritime salvage operator employing proprietary and sea recovery expertise to retrieve commodity metals from World Wars I and II merchant shipwrecks lying at previously unreachable depths. The company's ROGE (Remotely Operated Grab Excavator), a hydraulically operated multi-jaw grab, is among the world's most advanced deep sea excavating devices, capable of seizing up to three tons of material in a single grab and operating at depths of up to 16,000 feet, nearly double that of any competitive device. Ocean Resources' recovery operations are directed by Graham Jessop, an internationally accomplished deep sea salvage expert who participated in recoveries from the RMS Titanic, RMS Carpathia, S.S. John Barry and HMS Edinburgh. For further information, visit www.oceanri.com This press release may contain "forward-looking statements." All statements, other than statements of fact, included in this release and without limitation statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from the Company's expectations due to changes in operating performance, project schedules, prices and other technical and economic factors. SOURCE: Ocean Resources, Inc. Redwood Consultants Investor Relations Jens Dalsgaard, 415-884-0348 or Accentuate PR Media relations Julie Shepherd, 815-479-1833 julie@accentuatepr.com Copyright Business Wire 2005 --------------------------------------------------------------
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