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.

I won't try to hide the fact that most of us expected a much larger "bump" and follow through, shortly after the DA was signed, but allow me to offer a fresh perspective to the picture. Just two days before the signing (9/30) the stock price was languishing (intra day) at a low of $1.34. We closed this week ,at the high of the day and the highest close in more than a month at @2.78. That, ladies and gents, is an increase of more than ONE HUNDRED AND SEVEN PERCENT! (You'll notice that I spelled that out for effect)."That ain't chopped liver". As I read and re-read the 10-Q from earlier this week I realized that although the DA was the key to unlocking the door, there are many "hallways" that must be traveled and smaller doors that need to be opened. The professionals knew this. It was not a secret. It was right before our eyes if we read and remembered the multitude of 8-K's, 10-Q's and 10-K's that were filed along the way.That brings us to NOW. I loved what DOC---from London posted back on November 19th, and I quote........."It is not worth spending time questioning the timing of things! They will have their reasons and we will not know what they are"...... PERFECTLY STATED, APROPOS & TIMELY! In conclusion, I suggest that we all enjoy the climb, albeit slower than we had originally hoped. We'll get our "spikes" as the various pieces of the puzzle come together (Land transfer, financing,etc.) via the 8-K filings which will become the "catalysts" to get the "big boys" involved once we qualify to be listed on the NASDAQ. Please have a pleasant weekend and a super upcoming Thanksgiving with your families ,...BILL.

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bill4810
City
Holland, Pa.
Rank
President
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4466
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Date Joined
04/13/2009
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Omagine
Symbol
OMAG
Exchange
OTCQB
Shares
20,799,937 as of 01/04/2017
Industry
Bricks & Mortar
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