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: Reply to stock_shark1 - potential upside

Omagine

about 9 years ago

in response to AltonG's message

Thanks, Alton. Yes, it helps but still not 100% clarified on this point (for me atleast).

It will be good if new equity investments are based on book value (or some discount to it) but this has not been the case in the past. Also, with the market price currently being so far off BV new investors can purchase shares on the open market instead.