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: Now What?

Omagine

almost 9 years ago

in response to PYPR's message

I may look very stupid and ignorant, but my view is that share price is quite irrelevant at the moment. It fluctuates according to the news. Signing of the DA (being the biggest news so far) has seen reasonably high rise, as well as any other relatively minor announcement. After announcement, share will regularly drop, and so on. I stubbornly think we can really have a proper look at the share price, and do proper analysis, once when it exceeds $10, hopefully on completion of design stage when large investors make sure Omagine is a proper construction enterprise, and not a speculative stock market company.

The first indication will be contract with CCC which will release those $70mil, and enable Management to complete that task.