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.
Re: 10q
almost 12 years ago
0

But what's in it for them to "play us"? Isn't the RCA in the same boat that we're in, since they, too, are investors? Or do you believe they want us to go away so they have the whole project for themselves? Or some other reason?

We have all the principals lined up to do the project. They are on public record (in their press) as to their desire to diversify into tourism and clearly are taking steps to do so, albeit at a snail's pace. I'm with you on the frustration, but I just can't see what the possible nefarious reasons could be.

I have to remind myself that the first minister passed away and the next 2 were incompetent. The current one seems to be on the ball, if we are to believe management (and I do). All that being said, I have an extremely difficult time with their credibility (the Omanis, not mgmt) given their promises to sign during Ramadan or shortly thereafter. Then they offered up National Day (11/18) ... which clearly was smoke. So, I am just at a complete loss as to what's going on over there. But I do like the fact that the RCA was unhappy with the delays ... So, once again, we wait and see.

Cheers!

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AltonG
City
Basking Ridge
Rank
President
Activity Points
4848
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Date Joined
08/17/2011
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Omagine
Symbol
OMAG
Exchange
OTCQB
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20,799,937 as of 01/04/2017
Industry
Bricks & Mortar
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