Omagine

John Paul

I am amazed that you made reference to the concerns I expressed weeks ago.

While having those reservations, I have bouht shares in the past weeks @ 1.23, 1.97 and today@ 2.70. So it is possible to be concerned and take contrary action.

I think that the financing will be the definative event as it will confirm the viabilty of this project.

I acknowledge that management has soo much more at stake than I. While I will also benefit I hope that Frank and other's vision , labor and risks are richly rewarded.

They have sustained a constant commitment of time , energy and treasure over a period of eight plus years. This is certainly not a get rich quick enterprise.

I don't think there is any amount of financial gain that would compensate managements

investment. Al Federici