A close friend has paid tribute to three experienced fishermen killed in a boating tragedy.

Friends from NSW’s Coleambally — Les DeMamiel, 74, Russell Fisher, 67, and John McKenzie, 65 — were on a fishing trip during a holiday on South Australia’s Limestone Coast when they went missing about 2.30pm on Sunday.

Their bodies were recovered from waters off the Beachport boat ramp late Sunday night following an eight-hour search operation.

Superintendent Trent Cox said none of the men were wearing lifejackets when they were found and that they had ignored warnings from locals about dangerous water conditions.

7NEWS understands the trio met at a pub the night before setting off about 7am on Sunday.

Beachport resident Dorothy Hill, a longtime friend of DeMamiel, told 7NEWS the men had been looking forward to getting out on the water.

“I’m so sorry you’ve lost some beautiful lives there,” Hill said, struggling to hold back tears.

“Just the most beautiful people.”

Hill said DeMamiel would take friends and family to Beachport about twice a year.

“They actually died doing what they absolutely loved,” she said.

It is understood Fisher had suffered a spinal injury several years ago and was unable to swim.

“It’s a tragic end to what should have been a pretty standard trip for these gentlemen,” Cox said.

“If the locals are saying don’t go out, then there is probably a very good reason for it.”

Crews have since salvaged the seven-metre Bar Crusher boat and debris scattered along the beach near Beachport.

Cox said the boat belonged to the son of one of the men, but investigators are still working to determine what caused it to overturn.

Police have launched an investigation into the deaths and are appealing to locals not to collect any debris from the beach, as it could form a crucial part of their investigation.