In collaboration with FUGRO (worldwide geotechnical services) we participated in extended geological underwater survey as part of the project: "Odysseud Unbound" under the guidance of JOHN UNDERHILL , Professor of Stratigraphy at the University of Edinburgh, ROBERT BITTLESTONE, University of Cambridge and founder of Metapraxis Ltd , and JAMES DIGGLE , Professor of Greek and Latin at Cambridge and a Fellow of Queens' College.
Details and information about the project at the official site of Odysseus Unbound.

" Where is the Ithaca described in such detail in Homer's Odyssey ? The mystery has baffled scholars for over two millennia because Homer's descriptions bear little resemblance to the modern island called Ithaki, one of the Ionian Islands off the coast of western Greece. Homer himself is thought to have lived far away in Asia Minor (western Turkey) several hundred years after the events of the Odyssey , so most experts think that he based his poem on stories he had heard of distant Ithaki. The geographical mismatch in his poems perhaps reflected his lack of familiarity with the Ionian Islands, together with the fact that he was composing a poem rather than a travel guide..."

(more at Odysseus Unbound site)