As we have been told by management terms in the DA agreement have been approved by both parties. Unfortunately, we must abide to the ways of the Omani government and wait. The articles that recently came out about the slowdown in the Gulf area was a blessing in disguise, it enable me and others to pick up additional shares at a much lower price. Shareholders that dumped their shares after holding them for so long a period of time were very foolish.

Now is the opportunity to increase your holdings. The Company will be filing their 10k in March and I anticipate that they will fill us in on the status,and if all goes well we may have a signed agreement in hand. In this market, Omagine may be the only investment that will increase the value of your portfolio.