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: Omagine's Margin Of Safety Is Very Real

Omagine

over 8 years ago

in response to crookedneck's message

Interesting read. I find some of the negative comments bordering on lazy research.

Nevertheless, the facts remain that there still remains no Qatari loan and no CCC contract. We've been promised that this news is coming out ... soon. I understand there are many details to work out, but this IS bordering on the ludicrous in terms of how long it's taking to get these 2 pieces done. A bank loan, especially after a term sheet has been agreed to, should not take this long. The CCC contract, they're an investor in this project! It's not like they were just approached in 2015 to be the contractor.

Still, I am confident that these last 2 pieces will be announced shortly. And while I have utmost respect and admiration for management and do not wish to throw anyone under the bus, this is getting old!