Titan Update: Hope Dims As Oxygen Runs Critically Low

Hope for successfully rescuing the five trapped tourists aboard he apparently doomed Titan is running out.

Coast Guard gave the ominous warning Thursday, noting that the sub's oxygen level is desperately running low, with just a few precious hours left before it runs out at 7.08am US Eastern Time, 9.08am Sydney or 12.08am GMT. 

The implication is that if not found within the period, the lives of its billionaire human cargo may well be considered as lost.

Though rescue operations remained in top gears overnight, any hope of finding the trapped tourists is getting thinner by the minute.

Titan lost all communications with tour operators shortly after embarking on the dive, about 435 miles south of St John’s Newfoundland, onward the wreck site of the historical Titanic, on Sunday.

Hamish Harding, described as British billionaire, OceanGate CEO, Stockton Rush, PH Nargeolet, Pakistani businessman, Shahzada and his 19 year-old son, Suleman, are trapped in the bowels of the sub, at a yet to be identified watery location deep inside the Atlantic Ocean.

Hopes were raised Tuesday night and early Wednesday when rescue team picked up what it described as banging sounds thought to be coming from the sub. It however, turned out to be false hope as the noise has been ruled out as coming from the sub.