Odyssey Marine Exploration Inc (OMEX)

[Imperial Whazoo]

I did a little poking around based on the article & everyone needs to benefit, so here's what I dug up.

1st, a text snippet from the 10K that references Nautilus Minerals (NUSMF.PK):
"Also, with the recent mining license issued to Nautilus Minerals, another deep-ocean mineral exploration company operating in the South Pacific, there has been significant attention being given in this relatively new emerging industry. "

The 10K is here, BTW:
http://www.sec.gov/Archives/edgar/data/798528/000119312511049873/d10k.htm#toc135740_2

Anyway,next, I went ti the Nsutilu Minerals web site and looked at news:
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=449316

Under the heading PNG Government Confirms Investment in Solwara 1, dated 3/29/11, find the following:

The Government of Papua New Guinea (PNG) has signed an agreement and exercised its option to take up a 30% stake in Nautilus Minerals' Solwara 1 project in the Bismarck Sea.

Governor General Michael Ogio signed the agreement at a short ceremony attended by Nautilus CEO Stephen Rogers and Petromin Managing Director Joshua Kalinoe in Port Moresby, PNG today.

Nautilus will retain a 70% holding in an unincorporated joint venture to be established with the PNG Government to hold the mining assets of the project. The Government's 30% share of the joint venture will be held in Petromin PNG Holdings Ltd, the Government owned company established to hold the State's mining and petroleum assets.

The Government's initial payment to secure its holding will be approximately US$20-25 million, which represents its share of the exploration and development costs incurred up to the date of grant of the Mining Lease in January 2011. The final amount will be determined through an audit process, with payment to be made by August 1, 2011. In future, Petromin will contribute funds to the project in proportion to its interest.

The Government also has taken a 5% interest in a separate joint venture holding company to be formed with Nautilus to provide services in the form of people and equipment to the project and has made an initial deposit of US$1.8 million as part payment for that interest.

Now my guess is that the mention of Nautilus in the 10K was a tease for what will be forthcoming in some fashion involving the separate 5% JV mentioned in the PNG news release above.

That is just a guess, to be honest, because we don't actually know.

But services will have to be provided & Nautilus is mentioned in the PR, so I'm thinking its related.

I hope so, anyway.

Imperial Whazoo