Endurance Exploration Group, Inc. (“EXPL” or “Endurance”) is pleased to announce that it has entered into a contract extension with an Island Nation (“Nation”) located in the Indian Ocean, granting EXPL exclusive rights to certain shipwreck exploration and recovery activities in the Nation’s territorial waters. The contract extension grants rights for a period of three years, ending on August 28, 2023. The contract extension preserves the economic terms of the original agreement, whereby, Endurance will receive 75% the net profits, after deducting all search, recovery and other costs, realized from any commercial monetization of recovered cargoes, and the Nation will receive 25%.
The Nation was formed at the crossroads of different civilizations; and has been highly influenced over the centuries by African, Arabic, and modern Western cultures. There are numerous known Western shipwrecks located in the Nation’s territorial waters dating from as early as 1510, and speculatively, additional unknown Arabic and, potentially, Chinese trading ships from earlier periods may have been lost. Some of the known, but undiscovered and not yet salvaged, Western shipwrecks include (names abbreviated) : “SR”, Portuguese, 1510; “AW”, Portuguese, 1616; “SJ”, Portuguese 1616, “S”, English (EIC), 1635; “PH”, English East India-man, 1690; “R”, EIC, 1699, “H”, EIC, 1774; and “B”, EIC, 1782. Some of the wrecks were carrying large documented cargoes of precious metals specie and bullion, destined to be exchanged for exotic goods in the East Indies.
While Endurance originally received permissions from the Nation a number of years ago, our deep water search and recovery capabilities, including the purchase of a Bluefin/General Dynamics Autonomous Underwater Vehicle, have only recently been expanded to allow us to explore the deeper waters surrounding this Island Nation which are suspected of holding these valuable wreck sites.
A few pictures from our most recent visit to the Island Nation are posted.
The Nation was formed at the crossroads of different civilizations; and has been highly influenced over the centuries by African, Arabic, and modern Western cultures. There are numerous known Western shipwrecks located in the Nation’s territorial waters dating from as early as 1510, and speculatively, additional unknown Arabic and, potentially, Chinese trading ships from earlier periods may have been lost. Some of the known, but undiscovered and not yet salvaged, Western shipwrecks include (names abbreviated) : “SR”, Portuguese, 1510; “AW”, Portuguese, 1616; “SJ”, Portuguese 1616, “S”, English (EIC), 1635; “PH”, English East India-man, 1690; “R”, EIC, 1699, “H”, EIC, 1774; and “B”, EIC, 1782. Some of the wrecks were carrying large documented cargoes of precious metals specie and bullion, destined to be exchanged for exotic goods in the East Indies.
While Endurance originally received permissions from the Nation a number of years ago, our deep water search and recovery capabilities, including the purchase of a Bluefin/General Dynamics Autonomous Underwater Vehicle, have only recently been expanded to allow us to explore the deeper waters surrounding this Island Nation which are suspected of holding these valuable wreck sites.
A few pictures from our most recent visit to the Island Nation are posted.
