Dear stock_shark1, thank you for your inquiry. As stated in Omagine's previous SEC reports, the Omagine Site’s value will be definitively determined by a qualified independent real-estate appraiser subsequent to the signing of the Development Agreement. To date no such formal valuation or appraisal has been performed. Local real-estate agents however, have informally kept management aware of the value of the land constituting the Omagine site. The sharp increase in land values in Muscat is well reported and the Omagine site - with its unparalleled location - has certainly been positively affected. We cannot of course predict with any certainity, but one could reasonably expect that subsequent to the signing of the Development Agreement, the increased land value would be reflected in the company's share price. 

Regards,

AGORACOM Investor Relations