Oromin Explorations Ltd OLEPF

RE: RE: 3 Party Ownership Structure.........

[tony1969]

Hey GF, the OJVG has spent just over $155 million since the project started.  If Bendon has only contributed around $55 million then it would be hard to justify them getting their 43.5% share.  If your guess is close to being correct then it would work out to be only 36% or $55 million divided by $155 million.  Badr does not count in the equation because they have not contibuted any cash.  Even if Bendon gets 40% when you combine that with Badr's deminishing %, my guess would be that OLE should easily get over 50% of the deal when all is said and done.  This all points to a better situation for the public holders of the OJVG.