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: Benefit of Doubt

Omagine

over 9 years ago

in response to PYPR's message

I was thinking the same thing as PYPR... A new video (or even just a written message) from Frank would be nice.

It would be great to get a little more insight into why choosing a financial adviser and signing the CCC contract are taking longer than expected. It would also be nice to know what other progress is currently being made on the project, given Omagine's limited financial resources.

And speaking of financial resources, is Omagine actively trying to sell a stake in the LLC in order to raise funds? Or is Omagine waiting until the usufruct agreement is signed and the land appraisal is made public before making a big effort here?