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.
in response to lebnjb@ameri's message

NICK, if you read Omagine's "take" on JLL, I came away believing that they felt that JLL (I believe they consisted of one somewhat qualified guy and his helper---kinda like Batman and Robin) was waaay off target but OMAG wanted to err on the (very) conserative side and used the estimate in the average. To get another quote----I believe the first two took several months to receive---could have delayed the release of the numbers several additional months,which no one, in their right mind, wanted to do. If they threw out the low ball (JLL) apprasial. the average would have been $883,000,000 but may have left some doubt in the minds of investors--both present and future. I don't believe that "it would spoil some vast eternal plan" that once we get things moving, that Omagine would be well served to get the land re-appraised by three reputable appraisers and perhaps not "invite" JLL to the party this time around...Bill..... P.S. As of now the appraised value is not doing much in the way of attracting investors, nor will it ,until PWC/Omagine announces how that value is to be reflected in our financial statements. P.P.s. For some reason as I typed this, the stock just rose .20 to $2.45. Perhaps I should continue to type eh.... Or perhaps Alton just got off a call with Charley?

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bill4810
City
Holland, Pa.
Rank
President
Activity Points
4466
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Date Joined
04/13/2009
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Omagine
Symbol
OMAG
Exchange
OTCQB
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20,799,937 as of 01/04/2017
Industry
Bricks & Mortar
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