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Offshore Outpost Expeditions

Company Backgrounder

October, 2017

For more information:

Barbara Kline

[email protected]

720.325.2517 x 602 (o)

505.720.6593 (m)

Offshore Outpost Expeditions Backgrounder

Overview

Expedition cruises have emerged in the last 50 years as an increasingly popular way to live life large.

Smaller than cruise ships and providing more rugged and adventurous experiences, expedition cruises

address the growing fascination for travelers of all ages to get more “up close and personal” with the

natural world.

Offshore Outpost Expeditions (“OOE”) is taking a bold new approach to expedition cruising: personalized

expeditions on a roomy, custom-retrofitted expedition ship that take a maximum of 12 guests beyond the

destination to provide the experience of a lifetime. It was founded by a team of three men, David Mullen,

Cole Lysaught, and Daniel Hund, who share a passion for the delights of sea-faring adventure coupled

with complementary experience in building and running successful businesses. OOE is destined to

become a force to be reckoned with in an industry that began as mom-and-pop adventure cruising and

evolved into the companies in the market today.

The company’s first voyage departs November 26, 2017, from San Jose del Cabo. In the first year of

operation, OOE will offer weeklong expeditions in the Sea of Cortez and Alaska that are crafted by crew

members with intimate knowledge of the areas to delight and amaze guests with a combination of coastal

adventure and community in the ship’s spacious indoor and outdoor living spaces.

Offshore Outpost Expeditions Company Facts

Founded: 2017 Owned by: Offshore Outpost, LLC Dallas, Texas Executives:

David Mullen, Co-founder and Chief Expedition Officer

Cole Lysaught, Co-founder

Daniel Hund, Co-founder

Home Port for Pacific Provider: Juneau, AK

Website: https://offshore-outpost.com/

Phone: 877-460-9757

Email: [email protected]

Mailing Address: 1920 McKinney Ave., Dallas, TX 75201


Company Origins

The founding team combines passion for adventure and the sea with solid business skills. Founder David

Mullen developed the concept of OOE based on his extensive experience as an officer in the Navy and

as a wilderness guide for other small ship cruise companies. In addition to his sea-going credentials,

David has a Masters in Business Administration. Before founding the company, he wanted to find the

right combination of dedication and skills for the remainder of the team. David was not interested in

hands-off investors seeking only a return on investment. He wanted colleagues who had the business

experience, background and knowledge to make OOE a truly exceptional, scalable, sustainable

venture—one that emphasizes quality over quantity.

David knew co-founder Cole Lysaught from high school in San Diego, where they played football together

and shared a love for surfing, fishing, snowboarding and adventure. While David pursued a career at sea,

Cole, who moved to Texas to pursue his degree in Finance and Entrepreneurial Management, met the

third member of the founding team, Daniel Hund. Cole and Daniel studied together at TCU. Daniel, a

native Chicagoan who moved to Texas prior to high school, had more experience in lake and stream

fishing than the open sea, but shared the group’s passion for providing a unique nautical adventure and

having a positive impact on conservation. Cole’s early experience in the restaurant and hospitality

industry provided an additional point of reference as the company business plan came to form. The team,

with complementary but rarely overlapping skillsets perfected the concept that became OOE. Offshore

Outpost, LLC was founded in 2016 with headquarters in Dallas, Texas. All that was needed was the

vessel. When David found the ship, the Pacific Provider, Offshore Outpost Expeditions, owned by

Offshore Outpost, LLC, was born in October 2017.

Business Proposition

The founders of Offshore Outpost Expeditions believe that there is an untapped market for personalized

expedition cruising. From millennials to boomers, growing numbers of people are looking for unique

adventure experiences that combine adventure with comfortable quarters and the opportunity to engage

with a more intimate group for relaxation and outstanding fresh cuisine at the end of each unforgettable

day.

OOE is designed for people who want a more authentic, non-cookie cutter vacation experience. OOE

offers a journey at a package price that includes food, drink, WiFi, airport transfers and top-of-the-line

adventure gear—the only things not included in the package price are gratuities and airfare. The team

combines a rare blend of talents—starting with a passion for authentic experiences and hospitality,

combined with strong business skills ranging from start-up development to accounting and finance to

operations and administration.


Bringing this company to the market with a strong and practical business plan, they believe they have

developed a scalable business model based on exceptional attention to detail and service that will

provide not only once-in-a-lifetime experiences but also enthusiastic word-of-mouth referrals and return

guests. The layout of the vessel and the crew interaction are designed to create community, with

friendships developing that will far exceed the time of the cruise.

With initial funding from co-founders, family, and friends with which they have tight-knit relationships,

OOE intends to fund future growth from revenues. The team intends to encourage guest input as they

design future itineraries and vessels.

The organization’s first ship, the Pacific Provider, is a 160 ft. vessel that boasts

six identical spacious cabins with king and twin-bed options and exceptionally large observation

windows

well-appointed common rooms, including indoor and outdoor dining areas

3-beer taps, multiple wine coolers, and bar areas where a talented mixologist works with guests

to provide custom drinks mixed to deliver local tastes.

expansive outdoor space including

o a 2,200 sq. ft. upper deck with Jacuzzi

o a swim platform

o an outdoor cooking, dining and bar space, including the unique Big Green Egg (wood-

burning BBQ and smoker) where guests can join the chef as he prepares sumptuous

meals from the day’s catch

With quality as a focus over quantity, the ship brings to life co-founder David Mullen’s dream of providing

a new level of on-board freedom and comfort for expedition cruising.


The management team believes that by offering competitively priced one-of-a-kind experiences in an

intimate setting with a maximum of 12 guests, they are creating a new standard of expedition cruising that

combines exploration and adventure with yacht-like flexibility, intimacy and spacious accommodations.

History of Expedition Cruising

Expedition cruising began in the 1960s when the first “citizen” expeditions began exploring the frontiers of

the natural world. It has been a stable industry with companies including Lindblad Expeditions and

UnCruise offering adventurers the opportunity to travel on small ships to explore the less-traveled natural

wonders of the world. Although several cruise lines have attempted to expand into the expedition cruise

business, nothing much has changed in terms of the number of passengers and the basic outfitting of the

ships for many years. Passenger loads range from 50 or so to several hundred, and cabin and deck

space are relatively constrained.

Market

Expedition cruising stands in contrast to the lush but limited experience available in traditional cruising.

Adventurous travelers from millennials to baby boomers are willing to invest in a more intimate experience

than village-sized cruise lines ranging from 2,500 to 10,000+ passengers. These travelers want to have

unique experiences in places that are not dominated by tourist gift shops and jaded by constant

vacationer excursions. Instead, they prefer the freedom to design their own experiences and don’t want to


be nickel-and-dimed by multi-tiered packages that required additional outlays over the initial trip costs for

everything from Wi-Fi to drinks and specialty restaurants to off-ship excursions.

The OOE pricing model provides premium adventure gear, accommodations and service at a price point

well below a private charter. The typical OOE guest is willing to spend close to $8,000 per week to have a

unique and personalized adventure. The company’s theme: “Discover Your Journey, Share the

Adventure” encourages community and their tagline, “Beyond the Destination” speaks to the authenticity

of the experience. Travelers including multi-generational families, groups of friends and honeymooners

will be attracted to the intimacy of the OOE experience. In addition, couples looking for small group

adventure and solos looking for the convenience of organized travel with the freedom to carve their own

paths will choose OOE cruises.

The business model also calls for reaching out to organizations looking for opportunities to reward

outstanding performers or to create unique team-building experiences for whole-ship charters.


Sea of Cortez Itinerary

Twelve guests will appreciate the

minimum 2:1 guest to crew ratio on

the expedition ship, Pacific Provider,

as they explore the Sea of Cortez, a

UNESCO World Heritage Site and

one of world’s richest bodies of

water.

Jacques Cousteau called it “the world’s

aquarium.” They can choose from

activities such as swimming with sea

lions at Los Islotes, catching local

gamefish, exploring the vibrant reef at

Cabo Pulmo and observing wildlife from the ship’s expansive deck. The itinerary is flexible, with an emphasis on

experience, not covering sea miles. A typical cruise will cover only a few hundred miles with plenty of time for on-

ship and off-ship adventures. The 160-foot ship, with its fleet of four tenders for individualized exploration,

provides unparalleled freedom to explore the area’s pristine waters, stunning desert landscapes and hidden

beaches—places larger ships simply can’t reach.

An Alaskan itinerary with cruises to the remote areas of Alaska will be offered for the summer of 2018.


Executive Bios

DAVID MULLEN, CO-FOUNDER, CHIEF EXPEDITION OFFICER

David combined his unique set of skills and a passionate appreciation

for the outdoors to create one-of-a-kind expedition travel experiences.

His background includes naval officer, photographer, and wilderness

guide. With more than 300,000 miles at sea and extensive experience

with Lindblad-National Geographic, the Boat Company and as a private

yacht captain, he had very clear ideas about the type of expedition

cruise company he wanted to create. His focus is on the operational

side of OOE and he will be found providing his expertise in personalized

adventures to guests on the Pacific Provider. He has an MBA from Pepperdine University and B.A. in

English from the U.S. Naval Academy.

COLE LYSAUGHT, CO-FOUNDER

Cole, who grew up by the ocean in La Jolla, California, moved to Texas

to study finance and entrepreneurial management. Growing up in

California, and spending considerable time in Hawaii and Cabo, he was

drawn to sea-related activities including surfing, fishing, free-diving and

kayaking. His experience in the hospitality and restaurant industry

exposed him to the culinary delights of “California Coastal Cuisine” and set the standards high for

customer service. After early positions in financial reporting and equity trading, he decided to follow his

entrepreneurial calling. With more than seven years of experience in active, value-added investing on an

international scale with start-up companies, he was ready to join David in a new venture that combined

his entrepreneurial flair with a bold and creative idea for expedition cruising. Cole has a BBA in both

Finance and Entrepreneurial Management from TCU, M. J. Neeley School of Business.

DANIEL HUND, CO-FOUNDER

Daniel has in-depth experience in financial management, mergers and

acquisitions, and consulting with Deloitte and TPG Global. After more

than eight years, he was looking for a less corporate environment in

which to exercise his skills. OOE was both a good business opportunity

and a chance to develop his adventurous side. His family has lakeside

property in Texas where he often fishes, as well as participating in fishing expeditions to Canada on a

regular basis. OOE gives him the opportunity to provide financial and accounting expertise, as well as the

jack-of-all-trades opportunities of being co-founder of a startup. He has a BBA in Finance and Accounting,

and a Masters in Accountancy from TCU, M. J. Neeley School of Business.


Crew Bios

The crew of the Pacific Provider was handpicked for OOE’s mission

to take guests “beyond the destination.” All have extensive sea

experience and a passion for the kind of service and experience

that OOE has pledged to offer. The crew combines decades of

knowledge and expertise with an infectious enthusiasm for the sea

and its many wonders. Crew members from Captain and Chief

Expedition Officer to the chef, first mate, engineer and adventure

guides are experts on the regions where they cruise--the people, their culture and customs, local wildlife

and other attractions. A gourmet chef will oversee food preparation on each cruise.

A guest to crew ratio of a minimum of 2:1 ensures guests will get the kind of personal attention that will

make the expedition experience truly memorable.

SCOTT CARTER, CAPTAIN

A Southern California native, Scott landed his first job at 14 in a local

shipyard and went on to graduate from the California Maritime Academy.

Earning his Unlimited Master license by the age of 28, Scott traveled the

globe as a ship’s officer, sailing from one exotic port to another. Over his

long maritime career, Scott has acquired a deep personal knowledge of the

Sea of Cortez and Baja California. He has maintained a home in Los Cabos

with his wife, Kimberly, since 2005.

DAVID MULLEN, CHIEF EXPEDITION OFFICER

David is founder and chief visionary of OOE. He was born and raised in

San Diego, graduated from the US Naval Academy, had has logged more

than 300,000 miles at sea. His love of photography developed during his

career as a naval officer and expanded as he later traveled the globe as a

photographer, producer and editor. Earning his MBA from Pepperdine

University while he worked, his resume includes extensive experience as a

sailor and wilderness guide with Lindblad-National Geographic, the Boat

Company and as a private yacht captain. David led hundreds of nature and fishing expeditions prior to

founding OOE.

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