Scott Heimdal News

Oceanic Research and Recovery Inc. (PINKSHEETS: ORRV), and Deep Marine Salvage Inc, today announced that they have agreed upon  their first intended “cluster” of 5 commodity based salvage targets. These targets have been selected from our vast portfolio of shipwrecks lost in northern hemisphere waters. The combined manifested value of these cargos is a minimum of $2 billion at current commodity prices, and consists of platinum, gold, silver, copper and zinc. “This cluster has been selected not only because the wrecks are close to each other but because they also lie at shallow depths”,  said Scott Heimdal, CEO of ORRV. “On the water time is money, the faster you can put it on the deck the higher your margins”, continued Mr. Heimdal. “Working depth is a big factor in feasibility planning.

PEORIA, IL -- (PR Newswire) -- April 29, 2011 -- Oceanic Research and Recovery Inc. (PINKSHEETS: ORRV), a marine salvage and exploration company, today announced that team members have discovered two shipwrecks in the Philippines. Preliminary investigations indicate that at least one of the ships located is believed to be a Manila Galleon that was outbound from Manila to Acapulco, Mexico. The second wreck is believed to be an inbound Manila galleon which would be carrying silver and gold to be traded for oriental goods…