I do not own this.

1969 The Adventures of G.I. jOE Rescue Diver - The Perilous Rescue, code #7923

These "red top" action adventure sets introduced Hasbro's decision to move from war theme to adventure theme toys.

Perilous Rescue combined elements of the 1960's Action Sailor Frogman set (code #7602) with a modified version of the Breeches Buoy from the 1967 set of the same name (code #7625). 

This Breeches Buoy only has a simple strap seat as opposed to the full orange fabric covering of the 1967 and 1968 photo box versions.