Company Overview

Omagine, Inc. (formerly traded on OTC markets under the ticker OMAGQ) was a development-stage company focused primarily on large-scale tourism, hospitality, entertainment, and real estate projects in the Sultanate of Oman. Public filings and historical investor materials indicate that the company’s principal objective centered on the development of the “Omagine Project,” a mixed-use waterfront destination intended to combine residential, retail, cultural, hospitality, and tourism-related infrastructure.

The company operated within the broader industries of real estate development, destination tourism, and hospitality infrastructure. Its anticipated revenue model was tied to land development, property sales, hospitality operations, entertainment venues, and related commercial activities associated with the planned project. Omagine positioned itself as a developer seeking to capitalize on long-term tourism and economic diversification initiatives in Oman. Based on available public disclosures, the company remained largely dependent on the execution and financing of the Oman development project, and publicly available information indicates that commercialization efforts faced prolonged delays and operational uncertainty.

Business Operations

Omagine’s business operations were concentrated primarily around the proposed Omagine Project in Oman. Historical disclosures in SEC filings described the project as a large integrated tourism complex planned for coastal land near Muscat. The company’s operating structure relied heavily on development rights, government approvals, land-use arrangements, project financing efforts, and strategic planning activities rather than diversified operating cash flows from multiple business segments.

Internationally, the company’s operational focus was centered in Oman, while corporate and reporting functions were managed through the United States. Public filings referenced relationships with local Omani entities and government-linked stakeholders associated with project approvals and development processes. Data regarding significant recurring operating subsidiaries, large-scale active joint ventures, or diversified revenue-producing assets is inconclusive based on available public sources.

Strategic Position & Investments

Omagine’s strategic direction was primarily tied to long-term tourism infrastructure development aligned with Oman’s broader economic diversification goals, including expansion of tourism and mixed-use coastal developments. The company’s stated growth strategy historically emphasized securing financing, advancing project approvals, and attracting hospitality, retail, and entertainment participation for the planned development.

Available public disclosures do not indicate a broad portfolio of operating subsidiaries or diversified investments beyond the Oman project initiative. Historical company materials referenced development planning, architectural design coordination, and investment discussions connected to the project, but publicly verifiable evidence of completed large-scale acquisitions or fully operational portfolio companies remains limited. Data concerning material investments in emerging technologies or other sectors is inconclusive based on available public sources.

Geographic Footprint

Omagine maintained a relatively narrow geographic footprint focused primarily on Oman and the United States. The company’s proposed operational activities were concentrated in Oman, particularly near the Muscat coastal region, while corporate governance, securities reporting, and investor communications were handled through U.S.-based corporate structures.

The company’s market presence outside Oman was limited compared with multinational real estate or hospitality developers. Publicly available records primarily associate Omagine with the Middle East tourism development market rather than broad multinational operations across multiple continents. Its international profile stemmed mainly from its planned participation in Oman’s tourism and infrastructure expansion initiatives.

Leadership & Governance

Omagine’s leadership historically included executives and directors involved in project development, finance, and corporate management tied to the proposed Oman development initiative. Public company disclosures indicate that leadership oversight focused heavily on financing strategy, government coordination, regulatory compliance, and long-term project execution.

Key executives identified in historical public filings include:

• Frank P. Drohan – Chairman and Chief Executive Officer
• Claude M. LeBoeuf – President
• William A. Casserly – Executive Vice President and General Counsel

Leadership strategy, as reflected in historical public statements and filings, emphasized advancing the Oman tourism development project through governmental cooperation, phased infrastructure planning, and international investment participation. More recent governance and executive information is limited in publicly accessible sources, and some corporate status details are inconclusive based on available public records.