AGORACOM,

Please confirm that in all cases these multiple entities contracting for equity ownership in Omagine entities will be acquiring a single class of stock - the publicly traded shares of OMAG - rather than equity in various subs.

If this is the case, based on the proposed investments to date, the potential pro forma capitalization would approximate:

Beginning Equity (Dec. 31, 2007) 46 million shares OMAG

Pro Forma (Post Dev. Agmt.) 77 million shares OMAG

Potential Net Worth could rise from nil to approximately $258 million, or $3.35 per share.

Your comment, please.

harrell