Omagine

Company has signed a Development Agreement with the Government of the Sultanate of Oman. Omagine Owns 60%; Sultanate Owns 25%; Consolidated Contractors Owns 15%. Project to be developed on 245 acres of beach front land on Gulf of Oman. The estimated cost approximately $2.5 Billion. BNP Paribas To Lead Construction Financing Syndicate.

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THIS WEEK

Omagine

almost 13 years ago

Re: THIS WEEK

Omagine

almost 13 years ago

Re: THIS WEEK

Omagine

almost 13 years ago

Re: response to the 10/31/2011 posting by qwerty1029

Omagine

almost 13 years ago

Re: THIS WEEK

Omagine

almost 13 years ago

Re: THIS WEEK

Omagine

almost 13 years ago

Re: THIS WEEK

Omagine

almost 13 years ago

in response to lebnjb@ameri's message

OK, now I understand where you're coming from (thank you!). But why would the Sultan sign on as a 25% shareholder if they had any inkling of turning down the project (as they apparently did in Quatar ... before my time)? I guess that's where I'm stuck on the what ifs ... Essentially, there is always execution risk in every business endeavor, but this one seems to have gone too far for it to be material (at least the signing of the DA part).

I don't know if it would have been possible to set an affirmative date in dealing with the Omanis. Perhaps that would not have been possible in that part of the world ... maybe would have been seen as being "too pushy" in an American way!

Anyway, I know you are rooting for this to go through, as am I. Sorry for the angst last night!