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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Benefit of Doubt

Omagine

over 9 years ago

I will be the first to admit that I know very little about the stock market. I would like to think that everything they could do prior of the DA signing was done. You wouldn't want to spend money on architecture and engineering until the deal was signed. Finding financing without knowing capital requirements can't happen. I'm sure they have had discussions with multiple banks during the entire time to find out who might be interested. I'm glad CCC is an investor. They bring a lot of construction credibilty to the project to aid in project build. There needs to be an anouncement of any kind to show the project is definitely going to happen. I'd like to hear from Frank again with an progress explanation video. Let's face it, they could raise pre-building capital if we could excercise our warants.

Please management let's get it started. I'm sure you're worn out by now.

Surprise Bill when he returns.