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: warrants

Omagine

about 10 years ago

in response to edison's message

Absolutely! The land will have been contributed long before then and the book value of the company will certainly be around $30 ... and all of the other things discussed in the annual reports, 8ks and recent press release will have occurred by next June. By then the market should have recognized at least a portion of that, along with the fact that by next summer, units should start to be sold and therefore revenue coming in. And if not, then the expectation of such sales later in 2015 and 2016 will also be recognized. No worries, the warrants will be very worthwhile very soon.