Seafarer Receives 3 Year Permit

[psdiver]

Seafarer Receives 3 Year Permit

May 2, 2011 08:29:00 (ET)


TAMPA, Fla., May 02, 2011 (BUSINESS WIRE) -- Seafarer Exploration Corp. (SFRX, Trade ) announced today the company has received from the Division of Historical Resources a 1A-31 Recovery Permit active through April 25, 2014. The permit allows Seafarer the ability to dig and recover the designated site at Juno Beach, Florida using propwash deflectors (blowers) and dredges including other smaller specialized digging equipment for sensitive archaeological work.

Kyle Kennedy, CEO, stated: "This is fantastic. We are making history by being the first Company ever in Florida to receive a three year recovery permit. My thanks goes out to our dedicated staff and shareholders who have persevered through the battles and difficult challenges we have faced over the last year and a half. Through those adversities, we have come out stronger and better. We have targeted some areas of interest with the cesium vapor magnetometer survey which we will explore initially. We have developed relationships, which should evolve into future partnerships and/or joint ventures to create an exciting year moving forward. We have explored other sites in both the US and abroad to expand our knowledge and possible opportunities. We are being given an exciting opportunity with great responsibility to perform over the next three years. This is the single most exciting time in our Company's history. We are increasing our authorized shares to allow us the ability to capitalize our operations over time and finance future projects as they present themselves. We have now positioned ourselves to maximize our true potential. And as one of our shareholders, Jeff Vortman constantly tells me "Go for the gold", we certainly intend to."


Investor Relations Contact:
Kyle Kennedy, CEO
14497 N. Dale Mabry Hwy., Suite 209N
Tampa, FL 33618
Phone: 813.448.3577
Fax: 813.749.9426


Disclaimer:

The press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may", "expects", "believes", "anticipates", "intends", "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.

SOURCE: Seafarer Exploration Corp.


Seafarer Exploration Corp.
Investor Relations Contact:
Kyle Kennedy, CEO, 813-448-3577
Fax: 813-749-9426

 

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[ivan salis]

having the 3 year time frame of of allowed "searching" stability is good., as it allows folks to focus on actually find stuff instead of having to worry about permitting so much.

 

[signumops]

I wonder if having a new governor has anything to do with this?

 

[comfortably numb]

I wonder if having a new governor has anything to do with this?

I don't know, But I would like to know how they got it, and if anyone else can get it?

 

[ivan salis]

if one can get it others can too --the govt can not "play" favorites -- if they do one can sue for discrimanation . --so this 3 year permit --open the doors to a more sensible way of doing bussiness

the hard part in my veiw is to get fresh or "new area" permits granted --this area has had permits already issued there in the past ( thus it's a grandfathered type - past permitted area .)

 

[old man]

if one can get it others can too --the govt can not "play" favorites -- if they do one can sue for discrimanation . --so this 3 year permit --open the doors to a more sensible way of doing bussiness

the hard part in my veiw is to get fresh or "new area" permits granted --this area has had permits already issued there in the past ( thus it's a grandfathered type - past permitted area .)
[/quot

Ivan, my understanding is that Seafarer didn't get the permit. It was reissued to the permit holder for the Juno Beach site and Seafarer is subcontracting on the site.

 

[ivan salis]

OK -- ITS A OLD ALREADY PERMITTED PLACE *** OWNED BY A CURRENT LEASE HOLDER --- THUS THE STATE JUST EXTENDED THE PERMIT TIME TERM TO 3 YEARS TO CUT DOWN ON THEIR OWN PAPERWORK --SINCE THEY KNOW THE OWNER IS GOING TO RENEW OVER AND OVER.

SEAFARER IS THE 3 YEAR "SUBCONTRACTOR" FOR THE LEASE -- MAKES SENSE NOW

 

[capt dom]

Ivan,

Sounds like you got it almost 95% right!

The actual facts are the 1A -32 is a Recovery Agreement - not a permit.
The ownership of this particular Abandoned Shipwreck Site is first subject to
the original Federal Admiralty Arrest and award ruled by the U.S. Federal Courts.

This original case, as ours was filed before the Abandoned Shipwreck Act of 1988 was enacted.
The key word here is "agreement".

Frankly I prefer the word "agreement" as the Federal Court's Jurisdiction and "Award"
is senior in precipitant to a state ruling or determination of ownership.

It is not a permit.

No permit was issued.

 

[Salvor6]

Dom, then why does Kyle Kennedy call it a "Recovery PERMIT" ?

TAMPA, Fla.--(BUSINESS WIRE)-- Seafarer Exploration Corp. (OTCBB:SFRX.ob - News) announced today the company has received from the Division of Historical Resources a 1A-31 Recovery Permit active through April 25, 2014. The permit allows Seafarer the ability to dig and recover the designated site at Juno Beach, Florida using propwash deflectors (blowers) and dredges including other smaller specialized digging equipment for sensitive archaeological work.
Kyle Kennedy, CEO, stated: "This is fantastic. We are making history by being the first Company ever in Florida to receive a three year recovery permit.

 

[capt dom]

The last thing I will ever be able to answer is any question or questions
about what either Kyle Kennedy or anyone in Seafarers states, says, or does.....

That is suppose to be the job of the S.E.C. whose role is to protect the average "joe" or
"joanne" for that matter when it comes to public traded stocks and statements made by
officers such as Mr. Kennedy - who have a fiducial responsibility to protect their stockholders
interests and not mislead them.

The term 1A - 32 normally refers to "agreements" DHR enters into, not permits....
Unless they - the state does define it's statute differently with different individuals or companies.

Judd Laird is the primary "Agreement Holder" - Seafarers appears to be his primary subcontractor....

P.S. Judd has the first company to receive a 3 year 1A -32 agreement....
But, somebody up there - hanging around the DOS has always looked kindly upon Judd....

 

[Au_Dreamers]

As posted by the OP it is highly misleading.

I was wondering how Seafarer ended up as "the company" with a 3 year recovery permit.

It is a totally different picture painted than what is coming to light if those are accurate.

As an observer Seafarer being a subcontractor and not the actual permit owner makes a big difference in investing criteria. A bit of an over statement by Kyle...

Also this wrecksite being an Admirality Arrest puts it in a different category than anyone looking to obtain a new lease/permit.

While I am excited for them and the lease owner I've lost some of the excitement I intially had that the State might be leaning to work with private sector salvage more.

 

[capt dom]

I am not attempting to "rain" on anyone's parade....
Just, attempting to state the facts as I have first hand, experienced
them with our 1A -32 "Agreement" for the past two and one half decades.

Oh by the way..... that, {our 1A-32 Agreement} was the one last issued,
as far as I know, by DHR. and we have to jump through the hoop of having
to renew it annually........ So much for equal treatment under the law....

Has anyone following this forum ever heard of the term "lobbyists"

arh, yes there are still black pirates in the 21st century....
and most of them have law degrees....

 

[psdiver]

News Coverage:

http://www.cbs12.com/articles/juno-4732313-coast-beach.html

 

[ivan salis]

SO THE WRECKSITE OWNER OF THE JUNO WRECKSITE THAT (SEAFARER) SUBCONTRACTS FROM GOT A 3 YEAR AGREEMENT PAPER ALLOWING SEAFARER -- "TO WORK AT , AND TRY TO RECOVER STUFF FROM A ALREADY PAST ARRESTED SITE AREA--THE JUNO SITE" --- SO RATHER THAN THE REGULAR NORMAL 1 YEAR , THEN RENEW AGAIN OVER AND OVER , ITS NOW GOOD FOR 3 YEARS *-(WHICH IN ITS OWN IS A TINY BIT OF GOOD NEWS -- BUT THE "HOOK" IS OLDER PRE ABANDON SHIPWRECK ACT YEAR BY YEAR RENEWERS * TO GET THE NEW 3 YEAR WORK PERMITS HAVE TO "AGREE TO "NEW" RULES )-- ABOUT TIME THE STATE STARTED DOING 3 YEAR PERMITS TO CUT DOWN ON "RED TAPE" -- SINCE THE STATE KNOWS THAT THE REGULAR WORKERS OF THE KNOWN AND "AWARDED" 1715 FLEET AREA WILL BE THERE YEAR AFTER YEAR AT THOSE SITES ( ALL OF THE 1715 FLEET SITES WERE COURT AWARDED PRE ABONDONED SHIP WRECK ACT SITES ) SO THEY ARE ALL"SETTLED LEGAL SITES" --ISSUED PRIOR TO ALL THE LEGAL BS THAT HAS STOPPED THE PERMITTING PROCESS FOR THE MOST PART.

EVERY ONE KNOWS --THE "ABANDONED SHIPWRECK ACT"
WAS THE FEDERAL GOVT'S (AS WELL AS THE STATE OF FLORIDA'S) WAY OF GETTING EVEN WITH MEL FISHER AND SALVAGE FOLKS IN GENERAL FOR BEATING THEM "FAIR & SQUARE" IN FEDERAL MARITIME COURT .--ITS CUSTOM TAILORED TO SHUT DOWN ACCESS TO FEDERAL MARITIME COURTS TO PREVENT SALAVGE CLAIMS BEING PUT FORTH ON OLD TREASURE VESSELS . THUS STOPPING OTHERS FROM EVER WINNING THE WAY "MEL DID".

 

[SEAHUNTER]

Actually the new rules under 1A-32 allow for three year permits for anyone who will take them. However this makes any existing admiralty claimholder who agrees to a three year permit to be liable under the new rules. Existing admiralty claims are exempt from the new rules if they do not agree to a three year permit.

 

[Au_Dreamers]

Actually the new rules under 1A-32 allow for three year permits for anyone who will take them. However this makes any existing admiralty claimholder who agrees to a three year permit to be liable under the new rules. Existing admiralty claims are exempt from the new rules if they do not agree to a three year permit.

Interesting Seahunter...
If the list is short what would be the new rule changes?

Ivan--
Imho if most of above is the truth then Seafarer actually hasn't obtained anything and most definately not what the OP posted.

The lease owner/ arrest receiver actually obtained the 3 year agreement. Seafarer is a contracted sub-contractor. They are only viable with the Juno wreck as per their contract with the lease/arrest owner.

I wonder if those terms are available?

Don’t get me too wrong. I do not know much about Seafarer other than what I have read here in these forums. I am not against them I am just trying to sort fact from embellishment.

I can understand the team attitude and maybe they did have an actual hand in helping the owner obtain said agreement, but it doesn’t seem to be the same story as lead to believe by the OP.

If their operation is on the up and up then I wish them much success!

 

[jeff k]

By Lona O'Connor
Palm Beach Post Staff Writer
Posted: 5:20 p.m. Thursday, May 12, 2011


Just granted a state permit to explore the area off Juno Beach for the next three years, Seafarer hopes to raise a fortune for its shareholders.

"One of my shareholders says, 'It's like having a lottery ticket with no expiration date,'" said Kennedy, whose company is based in Tampa. The salvaging operation is expected to begin next week.

The crew, including Capt. Rodney Grambo, look much more like the seafarers they are, wearing flip-flops and shorts, their skin tanned the same color as Kennedy's briefcase and their biceps richly tattooed. They also have good seafaring nicknames like Ringo.

Their boat, dwarfed by the luxury yachts and fishing boats around it, has an equally colorful name, Iron Maiden. Her stern is distinguished by two giant blowers that push away tons of sand, speeding the tedious excavation process.

Funny story about those sand blowers: A few years back, when Captain Rodney was looking for a treasure chest full of emeralds from the Atocha, Mel Fisher's $400 million treasure ship, the blowers did their job too well.

"The blowers blew the emeralds everywhere," said Grambo. "Still to this day they call that site the Emerald City."

Here's how the treasure-hunting process works: About 20 years ago Palm Beach County treasure hunter and historian Jud Laird found an anchor off the coast of northern Palm Beach County. Laird worked the site for a few years, then recently joined forces with Seafarer.

By the positioning of the anchor's fluke, or barbed end, they determined that the ship anchored offshore during a storm. By the distribution of lead musket balls, lead hull sheathing, cannonballs and serpentine jade from the ship's ballast pile, they estimated how far the ship was dragged by the storm before it sank.

The boat in question, though it will remain unknown until something is found that dates it, was probably a Spanish galleon from the 1500s hauling gold plundered from the Incas.

The ship might also be from two Spanish fleets well known to treasure hunters, from 1715 and 1733, most of whose ships sank in storms.

Weighing 600 to 700 tons, the 60- to 70-feet-long ships barely traveled four knots an hour, with 100-foot masts to offset their weight.

"We're pretty confident in that site," said Kennedy.

Ryan Wheeler, the state's archeologist, holds a more sober view.

"If you look at the history of the site, it hasn't produced much in the way of artifacts," said Wheeler. "It's a very risky proposition, but of course we wish them luck."

Treasure salvagers are monitored by the state bureau of archeology, which gets 20 percent of the value of the treasure, including its pick of the most archeologically valuable finds. Landlubber or not, when the divers tell him they have found something significant, Kennedy will leave his briefcase behind and hang over the side of the Iron Maiden, watching for that first glint of gold.

"We wouldn't have invested millions if we thought nothing was out there," said Kennedy.

 

[ivan salis]

UPSIDE / DOWNSIDE

seems to me the way I reading it ---that prior awarded (pre abandoned shipwreck act sites) like the JUNO SITE's owner can get the "new" 3 year "right to work" the sites permits BUT only if they agree to the "new rules" --otherwise its still a year by year "renewal" process

seafarer "sub contracts" from the owner of the juno site * - so seafarer via it's contract with the JUNO site owner has a "right' to work the site for the next 3 years steadily

the new 3 year "permits" seem to be kind of a "arm wringing" blackmail way to get existing year by year renewing existing site permit holders to "agree" to the new rules , in order to get the 3 year ability to work permit .

the state should have long ago switched over to a multi year permit * --the folks that work the "pre abandon shipwreck act "awarded" sites (1715 fleet sites)" have worked those sites year after year ever since they were awarded -- the massive amount of useless red tape involved in the year after year "renewal" process is mindblowing ---it waste both the salvors time and resources and also the taxpayors money as well -- the state knows their going to "renew" thier permits over and over again , they just make it hard having to "go thru all the motions" over again and again.

 

[old man]

Obviously the local news will print/air anything you tell them, without fact checking. That story is so full of inaccuracies it is pathetic.

As capt dom pointed out, Judd Laird and his company have the admiralty on that site. They have had it since 1988 and magged, searched, dug, ect..... and no treasure has ever been found. Seafarer has subcontracted for 2-3 years now and has found nothing of value either.

JC

Saltydog, Looks like the State Of Florida agrees with you. The company makes it sound like they just found King Solomon's Mine or are about to find it. Sounds like the hype from some other Penny Stock treasure hunting companies.

Ryan Wheeler, the state's archeologist, holds a more sober view.

"If you look at the history of the site, it hasn't produced much in the way of artifacts," said Wheeler. "It's a very risky proposition, but of course we wish them luck."

 

[capt dom]

When you read these press releases you have to consider the source....
or sources....

and their ultimate purpose....

Contrary to the quote attributed to the esteemed yet miss-informed Dr. Wheeler
Judd Laird's shipwreck site has yielded a substantial number of artifacts - abet not of the variety
that we as "dastardly treasure hunters" - most card {ROPA} carrying archeologists attempt to
make the public think we be, only interested in. {that being gold and silver... arh}

For years Judd goal tended multiple artifact tanks - unfortunately probably breathing in way
too much hydrogen sulfide gases; while attempting to preserve them. Dr. Wheeler's quote
chooses to give little acknowledgement or credit because Judd is - to him nothing but a
"well connected laymen".

Millions have been spent on the "last Galleon" as Judd use to call it long before the
public funded subcontractors who now are again coming on to the scene. The blowers on
Iron Maiden are a sight to behold - in point of fact, they are most impressive.....
Sitting at the Square Grouper dock for a season - they more than did their job....
That is, if Mr. Kennedy also has raised "millions"..... to now spend on administering
the juno wreck site....
Maybe some of that was well spent on lobbyists....
What do I know?

But someone should suggest future investors take a good look at the wheels and power of
the vessel --- and its anchoring capability

Good luck Sea fares.... I truly hope you find your motherlode and all that is coming to you