Dear Jeff72

Believe it or not, I am still ultra optimistic and very positive. Maybe my last post did not reflect it properly. However, I am, instead of being grumpy and defeatist, trying to figure out reasons why the company with Royal Court as a shareholder and DA guaranteeing exclusive right to build on a beachfront worth $700mil cannot raise money to build it.

If you know, please give me the answer. Or suggestion. Anyone?

Will be happy with any logical explanation, but please do not mention any more that Omanis are slow or that our investors are passing away.

However, If my theory is right, my last post is actually a positive approach to the problem of financing.  I've seen quite a few feasibility studies and financial proposals in my life, and am still quite sure that any major investment based on available information is very problematic. Have a look at the official website http://www.omagine.com/, compare it with any similar (or even much smaller development) and you will know exactly what I am talking about.

You quite clearly said ' The quantity and type of buildings is obviously subject to change based on market conditions' Well, the situation has already changed since the last proper study was commissioned some time ago, and the new study you are mentioning is far from being comprehensive. Financing for Hotels, Residential units, Office buildings, Retail is essentially very different, and any significant change in numbers will hugely affect the entire financial model.

In the next sentence you pointed out that 'Of course, everything is subject to change once financing is received and planning begins'. Would you like to invest into something that is going to change anyway?

In the other hand, you may be right, and some high level investors are privy to additional info.

I think the Management should without a delay commission a new study based on the current situation, update Master Plan, conceptual design and figures to go with, update web site, create new marketing material, and attack large investment straight away.

If they cannot raise those say $10mil -$15mil to organise study for the project worth $2.5bn, we have to ask ourselves really big questions.

Any other suggestions?