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, and even the Land Valuation.

Go Frank, go....