Dear chatcat,

Thank you for your inquiry. Our aim in responding to your question is one meant to be clarifying and not predictive.

The "net-present-value" of such Projected Cash Flow is projected to be approximately USD $300 million. But please remember the projected financial model presently predicts a net positive cash flow in excess of USD $600 million (the "Projected Cash Flow") over the five year period immediately subsequent to the signing of the Development Agreement.

Assuming the Development Agreement will be signed with the Government of Oman, as presently contemplated, and as described in numerous of the Company’s SEC reports:

On the Financial Closing Date (expected to be approximately 6 months after the DA is signed) the Project Company under formation in Oman is planned to be owned as follows:

JOL - 58%

CCIC - 12%

Newco - 30%

So in clarifying your comment, OMAG (and its subsidiary JOL)’s estimated share of the projected NPV will be 58% -- or OMAG/JOL’s final percentage of ownership of the Project Company which is currently contemplated to be at least 58%.

NPV calculations, when made, are PRESENT calculations of the ACTUAL Projected Cash Flows of $600 million. So depending on your investment valuation methodology you will be multiplying the estimated 58% OMAG ownership for either the present $300 million NPV or the actual $600 million Projected Cash Flows.

I hope this answers your inquiry but please remember that the above is given for illustrative purposes only and assumes the occurrence of events that have not yet occurred.

Regards,

AGORACOM Investor Relations