One mile of Ocean Front, One Incredible Real Estate Development

Multi-Billion Dollar Agreement Signed With Oman

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AGORACOM NEWS FLASH

BREAKING NEWS!!!

Tetra Bio-Pharma Signs Definitive Agreement for Two Products with Panag Pharma

  • Signed definitive agreement with Panag Pharma Inc. for the development and commercialization of novel cannabinoid based formulations for the treatment of pain and inflammation
  • Combined total market potential of both products in the USA in 2014 is estimated over US$5.5 billion

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Hub On AGORACOM / Read Release

Message: moves
posted on Aug 01, 2011 05:19PM

Dear shareholders,

There has been some chatter on the board about Michael Baker Co. Please see the attached excerpt from the Annual Report on form 10k for clarity on this matter.

The Shareholder Agreement provides that Omagine LLC shall, subject to the approval of the Omagine LLC shareholders hire Michael Baker Corp. ("Baker") as its Program and Project Manager. Baker is a publicly traded U.S. firm (AMEX: BKR) in the business of providing program management, engineering, design and construction management services to a wide variety of clients including the Department of Defense and several state governments. The Company has employed Baker through the feasibility and engineering study phases of the Omagine Project and anticipates that Omagine LLC will execute an agreement with Baker soon after the signing of the Development Agreement. Several Baker representatives and senior executives have made several trips to Oman to visit with management, examine the Omagine Site and plan for Baker's future involvement with Omagine LLC. In March 2011 the President and CEO of Baker and a Vice-President met with the Company's president in Oman.

Baker (www.mbakercorp.com) is headquartered in Pittsburgh, PA, with offices throughout the U.S. and abroad and is experienced in all aspects of design, program management and construction management for large scale construction and development projects of the magnitude of the Omagine Project. Baker has significant program management and construction management contracts with the United States military worldwide - including in the Middle East.

Regards,

AGORACOM

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