I have a feeling that the essence of discussion in this forum did not change at all, despite so many interesting events. Investors somehow expect significant!! rise of shares value on the basis of UA (which was, after signing of DA always a formality), or value of land (which is not as important as we would like to think). I suggested in one of my previous posts, owning the land and adding some nominal value to a company is one thing, but ability to create a solid financial proposition and develop it, is quite another.

I would really, really like to be wrong on this (and we will see in the next couple of days), but I think that my original post (underneath) still has some value in it.

'Another point of view

(Posted 17.03.2015)

May I offer a different (fairly amateurish) analysis. I will be pleased if anyone bothers to read it, and explain why am I so terribly wrong.

MILESTONES

In my view there are only three milestones

1. Signing of the ‘DA’ proved Government commitment, and with that completed, the ball is definitely in Management court. All other agreements are apparently formal.

2. Beginning of the Project Development will prove Management is committed. In order to secure investment, Design must be completed, and the figures must stuck-up. At the moment, as far as we know, there is only a Feasibility Study, completed almost 10 years ago, with the cost of around $1.4bn attached!

3. Beginning of the Construction Process will prove the funding is in place, and the Omagine is really going to be developed.

CATCH 22

In order to start with the Project Development, Omagine needs to get that $69,233,125 of Deferred Cash Investment....

...In order to get that investment, the Contract with CCC will have to be signed...

...In order to produce a meaningful Contract, Design and Financial part of the Project Development will have to be completed....

...In order to start with the Project Development, Omagine needs ...................................

It is not going to be easy (unless there is someone else to invest in the Project Development), but I believe once when this conundrum is resolved everything is going to be Hunky-dory

BET

I do not know much about stock market, but I will bet anybody that at the moment the Design starts, stock price will top $10.00. At the moment the construction starts it will top £25.00.

....Regardless of Oil Prices, health of the Sultan, Proximity of Yemen, Usufruct Agreement, even the Land Valuation.

Go Frank go....'