To make things even more confusing, we are talking about the same financial wizards who managed to raise money for the feasibility study some time ago in Qatar when the project did not have almost any support.

I simply do not get it.

It is good to be positive, but I am extremely frustrated bewildered and confused.

It is beyond my belief that a company with potential asset of  $700mil in the shape of the most amazing  plot of land in Oman, with full support of the Omani government (remember 'DA') and with Royal Court as shareholders, are not able to raise even minimum amount of money to start with ever important Design and Development.

 That is all to it. With no initial money, no design, no feasibility study, no updated figures, and of course, no proper  investment.

Something must be terribly wrong.

Any suggestions? Pundits, experts, management? Anybody?

I am sure you are right. However, the things are not progressing as expected, and we are all trying to figure out what may be wrong and why no one else can see what we perceive as a fact.

I am really not buying into idea there is a problem with ISIS or current oil prices. There is plenty of money around, but it will be invested in a financially sound enterprise. I strongly believe Omagine is, but it has to be confirmed.

New feasibility study please!

Anything will do, anything!

I really cannot see any serious company investing into unknown.

But if the new figures are right,and right it will be, then.......

The sky is the limit. Cheers!

Departure of one of the shareholders and the reaction to it, urged me to repeat my personal views about this enterprise.

I still think the single most important thing for this to take off is its own sustainability. Price of oil, ISIS threat, Sultan’s health, are all very important, but I am ABSOLUTELY sure investors will fight to buy into an amazing development built on $700mil worth of prime Omani coastline, but ONLY, AND ONLY IF THAT DEVELOPMENT CAN MAKE MONEY.

Who wouldn’t?

In order to figure out that, we will have to know exactly:

1. How many houses are going to be built there, how many flats, villas, hotels, what star rating, office space, retail units, and so on?

2. How is that all going to look like?

3. Is the ratio between residential/office/retail space acceptable at this point of time (considering The Wave and similar new developments in the area)? There is maybe a case for a larger shopping centre?

4. Can Cultural Quarter support itself, or would it need some kind of subsidy?

5. And so on, and so on.....

In order to do that, master planning, conceptual design and market analysis will have to be completed, financial construction produced (based on the new data), and fully scrutinised. If the figures are bad, there is no point to go further anyway, but if everything fits into place .......

Therefore, I am urging Management to raise money by any available means, sign contract with CCC, sell shares, beg, steal, sell your soul to the devil if needed... and organise this as soon as possible.

Time is running out. We deserve to know.

I may look very stupid and ignorant, but my view is that share price is quite irrelevant at the moment. It fluctuates according to the news. Signing of the DA (being the biggest news so far) has seen reasonably high rise, as well as any other relatively minor announcement. After announcement, share will regularly drop, and so on. I stubbornly think we can really have a proper look at the share price, and do proper analysis, once when it exceeds $10, hopefully on completion of design stage when large investors make sure Omagine is a proper construction enterprise, and not a speculative stock market company.

The first indication will be contract with CCC which will release those $70mil, and enable Management to complete that task.