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: Reverse Split

Omagine

over 9 years ago

in response to bill4810's message

You all seem to forget the financial aspect to build this project, since the bank of choice didn't bite, but did not totally bow out. We still need a financial advisor to put the financing together. I think this may be part of the hold up also. If you read I think the last quarterly report, the jargan was pretty scarey at the end of it to where you could lose your shirt as Alton put it, if these other parts are not put in affect. It may well be when the shovel hits the ground in another 6 or 7 months.