The Coast Guard received a report of a recreational towing accident in which one vessel sank. VESSEL IS A 43FT S/V NAMED "ESCAPE". THE DISABLED MARINERS (02 PERS, NO FOOD, ONLY ONE BOTTLE WATER, BOTH WITH HEART CONDITIONS) ORIGINALLY LEFT DAG RIVER ON 03FEB IN A 17FT SKIFF TOWING THE S/V ESCAPE ENR OCEAN SPRINGS MISSISSIPPI. THE S/V IS A PROJECT BOAT WITH NO ENGINES, ELECTRONICS, OR SAILING GEAR (DEAD SHIP TOW) THEY WERE TAKING OVER TO WORK ON. THEY WERE SKED TO TAKE THE ICW IN PROTECTED WATERS BUT GOT DISORIENTED AND MISSED THE DAUPHIN ISLAND BRIDGE AND WENT OUT TO SEA. AT SOME POINT THE SKIFF SANK AND THE 02 POB GOT ONBOARD THE S/V. THE ONLY COMMS THEY HAD ARE A CELL WITH NO CHARGER AND HALF BATTERY. THEY DID HAVE HAND HELD FLARES (3 PACKS) AND PFD (INSTRUCTED TO DON).