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: Land

Omagine

almost 9 years ago

in response to AGORACOM's message

Thank you --therefore no accounting firm can book any value until the minimum build obligation is completed .Right now the land has a value of Zero since we have no right to sell .