MARKET PRESSURE = BUYING OPPORTUNITIES
As predicted on the AGORACOM Blog, it appears we are now moving into capitulation phase and a great opportunity to buy good small-caps that have been thrown out with the bathwater.
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Once again thank oyu for your inquiry. Pursuant to the draft Development Agreement now being discussed, Omagine Co's rights of use and ownership of the Omagine Site will be represented by a "Usufruct Agreement" wherein Omagine Co is granted a fifty (50) year lease over the Omagine Site at an annual lease cost of USD $0.80 per square meter, except that the lease cost during the first five years of the Usufruct (the construction period of the Omagine Project) will be zero.
The Projected Financial Model presently predicts an internal rate of return ("IRR") for the Omagine Project of 20% and 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. As of the date hereof, the "net-present-value" of such Projected Cash Flow is projected to be approximately USD $300 million.
Regards,
Agoracom Investor Relations
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