In the future we will be able to identify and respond to your questions faster if you remember to tick the “Question for Agora Investor Relations” box as you post your question. As to your question regarding the value which would be realized by the tranfer of the project property? This question requires too much speculation to provide an answer at this time. Until the OTDC’s minority percentage has been negotiated and announced no value can calculated. As an educated investor you certainly can speculate, however in our role as Investor Relations we can not. It is stated in the latest filings by Alfa that it will be negotiating a minority interest; so that could be any percentage less then 50%.

From the most recent Financial Filings

``Omagine is planned to be developed on 1 million square meters (equal to approximately 245 acres) of beachfront land facing the Gulf of Oman (the ``Omagine Site``) just west of the capital city of Muscat and nearby the Seeb International Airport. The value of the Omagine Site is expected to be determined by a qualified independent real-estate appraisal. A value of the Omagine Site at a discount to the appraised value is then expected to be agreed upon between the MOT and JOL and used, in conjunction with the Omagine financial model, as the basis for negotiating OTDC`s minority percentage ownership of the Project Company. The Omagine Site is presently owned by the MOT and title to the

Omagine Site is planned to be transferred free and clear to the Project Company in exchange for OTDC`s minority shareholding in the Project Company``.

Regards,

Agoracom Investor Relations