Here are the more salient parts ... (bolding added by me):

Item 1.01 Entry into a Material Definitive Agreement

Omagine LLC is a limited liability company organized by Omagine, Inc. (the “Company”) under the laws of the Sultanate of Oman (“Oman”) to design, develop, own and operate a tourism and real-estate development project in Oman named the Omagine Project. Omagine LLC is presently owned 60% by the Company.

On October 2, 2014, Omagine LLC and the Government of Oman signed a Development Agreement (“DA”) which agreement governs the development in Oman by Omagine LLC of the Omagine Project.

On March 15, 2015, our legal counsel received a telephone call from a senior official at the Ministry of Tourism in Oman wherein such MOT official advised us that the Ratification process of the DA was now completed.

The MOT official confirmed to our counsel that the DA was duly signed and authorised by the Ministry of Finance of the Government of Oman in accordance with Royal Decree 48/76. The MOT official stated that the ratified DA was in his possession and that he would advise us further in the next few days regarding the process to be followed for the signing and registration of the associated document – the Usufruct Agreement (“UA”).

We have absolutely no reason to believe that this is not the case, but since we have not yet physically seen the ratified DA, we cannot yet confirm without qualification that the DA has been duly and legally ratified as per the requirements of Oman Law.

Item 8.01 – Other Events

The Omagine Project will be developed on one million square meters (equal to approximately 245 acres) of beachfront land (the “Project Land”) facing the Gulf of Oman just west of the capital city of Muscat. The Project Land was provided to Omagine LLC by the Office of Royal Court Affairs (“RCA”) as part of RCA’s agreement to become a shareholder of Omagine LLC.

The Company has recently had the Project Land valued by internationally recognized land valuation experts in accordance with the requirements for such land valuations as promulgated by the Royal Institute of Chartered Surveyors of London, England (“RICS”). The Company has had such RICS valuation in its possession since February 2015 and management has determined that disclosure of such RICS Valuation should not occur until after the Usufruct Agreement has been signed and registered with the Ministry of Housing of Oman.