The US government finally cut off funding in 2012 - having spent $22m a year over five years from 2008-2011 - although the programme was not officially shut down until the military intelligence official in charge quit his post in October 2017, the New York Timesreported.
"Oh my gosh dude!" says the weapons system operator.
The video, which was obtained by the Stars Academy from proper "reporting channels", and was titled "Go Fast", shows an unidentified object moving at warp speed above the ocean surface.
On a side note, why is it that UFOs, abominable snowmen, ghosts and bigfoots (bigfeet?) seem to adore being captured only under the sketchiest of photographic circumstances, and only in the most grainy, distant, fleeting-footage fashion?
Once the sensor locks on, one of the pilots exclaims, "Whoa, we got it!" The fighter jets however found nothing.
When confronted with the unidentified object, the bemused pilot is heard shout, "What the f**k is that thing?"
Fravor said he was mystified by what he saw in the 2004 incident.
"It outran our F-18s", said one of the pilots.
Luis Elizondo, the former head of the Advanced Aerospace Threat Identification Program who now works at To The Stars Academy, told CNN on Monday that the newly released video provides further evidence of what he said is likely a much larger cache of Pentagon materials about unidentified aerial phenomena and underscored the need for a public conversation around the issue.
In a Washington Post op-ed, Mellon, who now works at The Stars Academy of Arts and Science (TTSA), says some US pilots have encountered a UFO and several have even caught footage of the occurrence, but not enough has been done about it.
"The DoD takes seriously all threats and potential threats to our people, our assets and our mission, and takes action whenever credible information is developed", the Pentagon said.
"We don't know the answers but we have plenty of evidence to support asking the questions".