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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8-K Report - April 6, 2016

Omagine

over 8 years ago

Dear Omagine Shareholders,

Omagine, Inc. has today filed with the SEC a current report on Form 8-K (the “8-K Report”).

Below are certain excerpts from the 8-K Report. The excerpts do not purport to be or represent the full filing. Please use the following link to view the complete text of the 10-Q Report:

http://www.sec.gov/Archives/edgar/data/820600/000101376216001452/f8k040516_omagine.htm

Excerpts from 8-K Report

Item 3.02 Unregistered Sales of Securities

On April 5, 2016, Frank J. Drohan (“Drohan”) the president of Omagine Inc. (the “Company”) purchased from the Company 56,000 restricted shares of the Company’s common stock (the “Restricted Shares”) at a price of $0.90 per share.

The per share sale price to Drohan of the Restricted Shares was equal to the closing sale price of the Common Stock on April 5, 2016 and the aggregate proceeds to the Company was $50,400. The $50,400 purchase price for all the Restricted Shares was paid to the Company by the $50,400 reduction in the indebtedness owed by the Company to Drohan.

Regards,

AGORACOM