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: IMMINENT

Omagine

about 8 years ago

in response to lebnjb@ameri's message

NICK, I believe you are partially correct. My recollection is that we started out with a million square meters---which is 245 acres----, then discovered that a portion of "our world" had been previously promised to an Omani government official (aw shucks). BUT.... and it's a big but... the boundaries were redrawn to compensate us (Omagine) for the lost real estate, and we again ended up with our nifty 1 million square meters (245 acres). Now, if we add Frank, Charley and Sam's sand moving phenomon into the Gulf, we pick up an ADDITIONAL 106,000 square meters (It's in the 10-Q ), which gives us a total of 1,106,000 square meters for The Omagine Project--and that ain't "chopped liver". Ya know Nick ,as I've read and re-read portions of the 10-Q (only Alton will read the entire report before Labor Day), I find myself saying to myself " Holy cow, it looks like we're really going to build this thing". Enjoy the ride---up. Regards, Bill of the Board.