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: A Random Thought ....

Omagine

almost 9 years ago

in response to lebnjb@ameri's message

I don't think so. The reimbursements will likely flow through the income statement as a negative expense (resulting in a gain to operations). When you say "... several years ... realize the full sum.", I take it you mean the value of the usufructs? If so, that should not make a difference as to the timing of the "realization" of this asset. It is, in my view, pretty much the same as a real estate asset. Real estate is valued at fair value (I believe) and not dependent upon when it is sold. Same here. LLC has an asset conservatively worth $718m. When that is sold and turned into cash is irrelevant. Or did you mean something else by that last sentence (in your comment)?