 The wreck was discovered by fishermen in 1998 in the <unk> Strait in 51 feet ( 16 m ) of water . The site location was purchased from local fishermen and a license to engage in excavation was awarded to a local Indonesian company . The dig was subsequently financed and excavated by Tilman Walterfang and his team at Seabed Explorations , under a license of co @-@ operation with the original salvage company , and after a request from the Indonesian Government ; security was provided by the Indonesian Navy . The excavations spanned two expeditions , one which commenced in August 1998 and the second in 1999 . Seabed Explorations provided vessels and financed government naval operations to safeguard the wreck site before and during the monsoon season . 
