SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* MACDOUGALD JAMES E (Last) (First) (Middle) 1721 BRIGHTWATERS BOULEVARD, N.E. (Street) ST PETERSBURG FL 33704 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ODYSSEY MARINE EXPLORATION INC [ OMEX ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 03/31/2002
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/28/2002		G		250,000	D	$0	9,062,008	I	See Footnote(1)
Common Stock	11/18/2003		S		1,998,000	D	$4	7,064,008	I	See Footnote(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrant (right to buy)	$3	02/28/2003		J(2)			722,000	(3)	02/28/2003	Common Stock	722,000	$0	0	I	See Footnote(1)
Warrant (right to buy)	$2.5	03/31/2002		J(2)			120,000	(3)	03/31/2002	Common Stock	120,000	$0	0	I	See Footnote(1)
Warrant (right to buy)	$2	02/28/2003		J(2)			817,000	(3)	02/28/2003	Common Stock	817,000	$0	0	I	See Footnote(1)

1. Name and Address of Reporting Person* MACDOUGALD JAMES E (Last) (First) (Middle) 1721 BRIGHTWATERS BOULEVARD, N.E. (Street) ST PETERSBURG FL 33704 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* MACDOUGALD MANAGEMENT INC (Last) (First) (Middle) 3773 HOWARD HUGHES PARKWAY SUITE 300 N. (Street) LAS VEGAS NV 89109 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* MACDOUGALD FAMILY LP (Last) (First) (Middle) 3773 HOWARD HUGHES PKWY STE 300N (Street) LAS VEGAS NV 89109 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. These shares are owned directly by the MacDougald Family Limited Partnership (the "LP"), and indirectly by (a) MacDougald Management, Inc. as General Partner of the LP (the "General Partner"), and (b) James E. MacDougald as President of the General Partner.

2. The warrant expired on the expiration date set forth in column 6.

3. The warrant was exercisable upon issuance.

	/s/James E. MacDougald, Individually	11/19/2003
	/s/James E. MacDougald, as President of MacDougald Management, Inc.	11/19/2003
	/s/James E. MacDougald as President of the General Partner of MacDougald Family Limited Partnership	11/19/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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