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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Land as asset

Omagine

over 8 years ago

Re: Land as asset

Omagine

over 8 years ago

Re: Land as asset

Omagine

over 8 years ago

Re: Land as asset

Omagine

over 8 years ago

Re: Land as asset

Omagine

over 8 years ago

Re: Land as asset

Omagine

over 8 years ago

Re: Land as asset

Omagine

over 8 years ago

Re: Land as asset

Omagine

over 8 years ago

in response to alfederici's message

Agree on all fronts. But one possibility regarding why Qatar and not Oman for the bank loan is that perhaps Qatar has offered better terms. At any rate, management DOES have a term sheet in hand ... so the loan should be proceeding, which triggers the first finance date which triggers cash infustion of $69m. [I know you know this already, just repeating it for our readers!]

I believe you also have your $5 and $10 warrants ... hopefully you'll be able to exercise those to great advantage!