We consider a recently proposed gyroscopic device for conversion of mechanical ocean wave energy to electrical energy. Two models of the device derived from standard engineering mechanics from the literature are analysed, and a model is derived from analytical mechanics considerations. From these models, estimates of the power production, eciency, forces and moments are made. We nd that it is possible to extract a signicant amount of energy from an ocean wave using the described device. Further studies are required for a full treatment of the device.