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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
820600	Omagine Inc.	OMAG	Non-Operating Establishments (9995)	202876380

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1299116	J Frank Drohan	350 Fifth Avenue Room 1103 New York NY 10118	President & Ceo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2011-08-29	100,000	$1.25	1,482,358	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Common Stock Purchase Options	Disposition	2011-08-29	100,000	$0.00	100,000	$1.25

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
100,000	2006-09-01	2011-08-31	No	4	C	Direct

Footnotes

The Reporting Person exercised 100,000 common stock purchase options ("Options") granted by the Board of Directors on September 1, 2001 and expiring on August 31, 2011. The number and exercise price of the Options give retroactive effect to the reverse and forward splits (the "Stock Splits") effected by the issuer on December 29, 2009. The aggregate price of $125,000 was paid to the Company by offsetting $125,000 of accrued but unpaid compensation owed to the Reporting Person by the Company.
The exercise price for all such Options was $1.25.