The following article was extracted from the Cambridge UFO Research Group in Cambridge, Ontario, Canada. The title is "TRUE OR FALSE? SHELL OIL DISCOVERS A UFO"
It was first published in UFO OFFICIAL, August 1978.
The Shell Oil Company oil rig, PACESETTER 2, was set up on the CONTINENTAL SHELF, 90 miles off the coast of New Jersey, in the area known as GEORGES BANK.
On their first drill test they struck metal. Thinking it was a sunken ship or submarine from World War II, they checked with the War Department and West Germany, but there was no record of any losses in this area.
While the check was being carried out engineers on PACESETTER 2 lowered a sonar device, which recorded a round object approximately 50 feet in diameter, in 600 feet of water.
On June 8, 4 winches with grappling hooks at the ends of the cables, were set up. Each was equipped with 1,000 feet of cable. It took them 90 minutes to get the hooks in position and a further two hours to raise it to the surface.
It was covered in barnacles, except near the top center (which was similar to a conning tower). It had small rectangular openings all the way around it.
The rig oceanographer estimated by the appearance of the object, that it must have been in the water for at least 400 years. When the barnacles were chipped off, a flying saucer shape was revealed. Immediately the oil rig boss radioed his superiors in Atlantic City.
Three Shell officials arrived by helicopter, along with a physicist from Massachusetts Institute of Technology. As the barnacles were removed, the object appeared to have its original shine.
The physicist then entered it from an opening in the bottom and came out dumbfounded, saying that the electrical equipment was out of this world. He could not figure out how to use it or its propulsion system.
The physicist and five mechanics proceeded to try and take it apart. They raised it higher by winches so that they could walk underneath it better. They removed the rim which was about 6 inches thick and took ten men to ease it onto the deck. The physicist then proceeded to run a carbon test. The metal was 600 years old. He then made tests on the metal, but was unable to identify the material from which it was made. He next used a geiger counter to test for radio-activity, but there was no reading.
Next, the physicist dropped into the control room through the bottom of the craft, so that he could examine it better, and the strange panel boards. He climbed inside again with a mechanic. They were inside for about 20 minutes when a whirring sound was heard. Then a large cylinder was lowered from under the belly of the craft. A sliding door opened and the physicist and the mechanic walked out, the physicist holding a shiny ball about the size of a basketball. It was silvery and appeared to be solid. He held it at arm's length and then let go of it. It did not fall. He said he thought it was an anti-gravity machine. He ran a carbon and chemical test on it, but it defied analysis.
This ball was found in the exact center of the craft, and he said he believed that the ball could make the craft simulate a planet with its own gravitational pull. This would keep occupants from floating around during space flights.
Another helicopter arrived from the government, carrying 5 members of the CIA. They said that there was ship on the way to take this craft. When asked by whose authority they were told...THE HIGHEST... and produced a letter. The stationery was white and simple. In small letters at the top...THE WHITE HOUSE.
The CIA then tried to stop the physicist from dismantling the object, but a Shell official told them everything on the rig belonged to the Shell Oil Company, and until such time as the ship arrived, they would not surrender the saucer.
The physicist and the mechanic then continued to dismantle the craft, and removed the panel boards form the Control Room. The components were nothing like anything we have here. The physicist then climbed back into the craft and came out again holding a gadget that looked vaguely like a weapon. It was cylindrical with a red button on one end. He walked to the edge of the deck and pointed the tube out at the water and pressed the button.... There was a blinding flash as a thin white ray shot out and traveled about a mile before it faded out.
The mechanic then went back into the craft and brought out a small control box. Facing the craft, he pressed a button on the top and a panel near the conning tower slid open and a slender metal rod emerged. It was about 3 feet long. He manipulated it skyward and pressed a button on the control board. A bolt of electricity, resembling lightning, shot from the end of the rod, and following this, was an ozone odor.
One of the onlookers pointed skyward to the clouds, estimated to be at 10,000 feet... It had punched a hole through the cloud.
The physicist then went back into the craft and emerged with an assortment of objects that looked like weapons, but he was afraid to test them. He carefully laid them on a tarpaulin. Some were as small as a cigarette packet, while others were large and menacing looking. They had buttons on small panel boards.
He also had what looked like a lump of putty. He carefully broke off a small piece and threw it far out into the sea. The result...an explosion that threw some of the riggers off their feet.
Then the CIA ship appeared heading for Pacesetter 2, and the CIA agents on the rig started covering the strange looking weapons and placing them carefully in duffel bags. These, along with the saucer and parts, were then transferred to the ship.
The person who reported this incident returned to Atlantic City with Shell officials, knowing they would never see or hear of this UFO ever again. All the men on the rig were sworn to secrecy not to divulge any of these happenings.
No announcement about this UFO has ever been released, excepting in the Australian International UFO Research magazine.
We do not know if this article is true or not, if any of you know anything about it please let me know. It does make for interesting reading!