Yes Beach paint. Went down after work tonight to try and photograph the shipwreck of the Pisces Star at Carpenters Rocks when I came across this bright orange slick amongst the rocks on the coast.
It looked very much like paint, floating on top of the water and creating a slick feeling over the rocks where the tide had receded.
I originally posted that it was a paint like substance but have now found out it is actually fish eggs!!!! How cool is that. See the post from Marcus Jones re this.
Canon 400D 17 -85 lens with polarising filter.
Two shot panoramic stitched in Photoshop CS3.