Hey guys, do you remember this part of the 8K, where Mr. Tempest has vision of another project in Lybia. Frank and Charley are considering Omagine a done deal and are moving on to stardom possibly with Mr Tempest's property. Let's give them a round of aplause.

On June 24, 2014, Omagine Inc. issued and sold 362,308 restricted shares of Common Stock (the “Shares”) to a non-U.S. accredited investor, Roger Tempest, for proceeds of 250,000 British Pounds Sterling (equivalent to approximately $422,100).

In connection with his subscription for the Shares, the Company also issued Mr. Tempest a warrant, valid for two years, and exercisable for the purchase of one million (1,000,000) shares of Common Stock at a per share exercise price equal to the greater of (a) $1.00 per share, or (b) eighty percent (80%) of the closing sale price of the Common Stock on the trading day immediately preceding the relevant exercise date.

Management views this investment by Mr. Tempest to be a strategically positive event for the Company. Mr. Tempest is the scion of a distinguished British family dating back over 900 years (See: http://www.broughtonhall.co.uk/broughton-hall/), a member of the House of Lords in the British Parliament and a well-known and respected businessman. He owns, among other diverse investments, an 83 year lease on 2.48 million square meters (approximately 613 acres) of land near Leptis Magna in Libya (the “Leptis Site”). The Leptis Site has 3 kilometers (approximately 1.9 miles) of white sandy beachfront land on the southern coast of the Mediterranean Sea and is approximately 70 kilometers (43 miles) from Libya’s capital city of Tripoli. The Leptis Site is presently approved by the Libyan Government for the development of 7 hotels and 2,500 residential units.

Leptis Magna contains the oldest Roman ruins outside of Italy and is a UNESCO World Heritage Site (See: http://whc.unesco.org/en/list/183). It is an ancient seaport and trading center on the Mediterranean coast of North Africa, near present-day al-Khums in Libya. Founded by the Phoenicians, it became one of the three chief cities of Tripolitania and was later a Roman colony.

Management of the Company has long-standing business and personal relationships with many persons in present day Libya and Mr. Tempest has expressed a strong interest in a future collaboration with Omagine, Inc. on the development of the Leptis Site. No terms of any such possible collaboration have yet been discussed but we view this potential prospect (provided political stability returns to Libya) as an extraordinary opportunity for the Company to execute another cultural-heritage real-estate project in a uniquely historic location.