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Seafarer Exploration SFRX
Posted On: 06/19/2014 3:33:14 PM
Post# of 7802
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Posted By: Coat Tail Rider
Re: Southerngal #1093
It's a bit complicated but the DEP permit extension is for HTQ because it was originally with HTQ. The new permit for salvage will be for SFRX's and HTQ's joint venture, Seafarer's Quest, a subsidiary of SFRX. Instead of having a simple contract between the two entities, it was made much more complicated for a number of reasons and there is the joint venture instead (also another factor that extended the time it has taken). But the joint venture is basically acting as the contractual agreement between the two parties to make sure everyone's needs are met. So, HTQ gets the renewal/extension permit but SFRX will be doing the actual work when the salvage permit comes. The document from Oculus is an extension for HTQ that is running parallel to the salvage permit for SFRX.













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