On 1/16/2004 , the vessel VENTURE NO. 1 (Official Number 320883) was involved in a sank - flooding in SOUTHWEST DISCOVERY ISLAND, B.C., BRITISH COLUMBIA (BC).

The vessel, with 5 persons on board, experienced the incident while engaged in regular operations. There were 0 injuries and fatalities were reported, and there was unknown pollution.

On 16 January 2004, the F/V "VENTURE NO. 1" was reportedly on fire and sank, off Gonzales Point East of Trial Island, B.C. All 5 POB evacuated vessel and were rescued.. Damage to the vessel was indicated as TOTAL LOSS

Weather at the time was reported as unknown with winds from the N at 0.00 knots. This incident was officially recorded by Transport Canada on 6/23/2004 .