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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Re: 10q

Omagine

almost 12 years ago

in response to aland's message

It seems that there is not as much tension in this 10Q as the last one. I believe since the RCA got more involved with the MOT re: On October 23rd, we met with RCA and delivered the two letters (signed by CCC and the Company), for signature by RCA whereupon RCA objected to the one letter requiring the Transformation into a joint-stock company before the DA signing. RCA (correctly) stated that this was unnecessary and would merely delay the DA signing. The RCA representative immediately called H.E. Maitha who was unavailable at the time. The eight day EID holiday followed after this. I feel more positive after this 10Q, that The DA may be signed by the end of December, or the 1st quarter of next year, If not, all bets are off, because all the excuses will have been played.