Dear Jomili,
In our discussions last week management confirmed that the Company remains in the wrap up process with the Oman Government for the development agreement which will govern the Omagine Project.
Your reference to the July 11th date is probably founded in the 60 day window as the Company last reported in its SEC filing on May 11, 2009:
“. . .management is unwavering in its belief that the Company's persistent insistence upon the clarity of the language of the development agreement will be of enormous financial value to all parties once the actual development of the Omagine Project is underway. As of the date hereof the Government has re-started the Government Internal Meetings regarding Omagine and we expect very few, if any, controversial items to emerge. In view of the previously encountered delays, management is reluctant to make predictions, but we are of the opinion that the Company's patient approach to this process will yield positive results and that a development agreement will be signed by the Project Company and the Government within the next 60 days”
The Company plans to update shareholders in its regularly scheduled SEC quarterly report within the next four weeks, unless breaking events warrant the filing of an interim (current) report.
Regards,
AGORACOM
