My prior post was not correct. Here is the correct reference to $500 miliion. Sorry for the confusion. Stil tremendous upside in this stock.
[[color=red]i]As noted herein, costs and selling prices remain somewhat volatile as the economy in Oman and the surrounding region recovers and improves, and undue reliance on present projections should be avoided. Management cautions that future events rarely develop exactly as forecast, and the best estimates routinely require adjustment.
Omagine LLC's financial model is frequently updated, modified and adjusted in order to capture what management believes are present market realities and projected trends. The financial model is organized to show best case, worst case and probable case scenarios. The most recent probable case scenario forecasts net positive cash flows for Omagine LLC in excess of $1 billion dollars over the seven year period subsequent to the signing of the Development Agreement with a net present value of the Omagine Project in excess of $500 million dollars. Management believes this is a conservative forecast.[color=red][/color] Omagine LLC will update this model at regular intervals as new facts and information become available, as the development program and design process unfolds and as market conditions require.
The sale of residential and commercial properties combined with the increase over the last several years in the value of the land constituting the Omagine Site, are the main revenue drivers supporting Omagine LLC's financial projections.[/color]
