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.

over 8 years ago

in response to PYPR's message

PIPER AND COWBOY, this roller coaster ride is simply Hijinks for some....playing with the market. Why you ask? Cause they can (It's a penny stock). We really won't see real bonified,lasting gains until #1. the financing is nailed down and #2. the construction agreement is completed. It was just bad timing that the price of oil tanked (pun intended) at about the same time OMAG was negotiating both of these agreements (and all three are related and intertwined). Sooo enjoy Ramadan and EID while Frank, Charlie and Sam take their "dog and pony show" to the faaaar East in hopes of finding a bank (or several banks) and a construction company that wants to get things moving. Lest we forget that the Sultan --through the RCA--- has done his part--and that was "THE BIGGIE". Without THAT ..Fahgettaboudit! Now we need the final pieces to this puzzle to be put in place....and then some sand to be pushed around. Keep the faith, Bill of the Board.