Oromin Explorations Ltd OLEPF

RE: RE: RE: New Math Formula = $2.24

[tony1969]

Thanks 1sanman1 for your kind words. I am just basing my estimate on them getting roughly aroung $600 to $650 million for the property.  That is $1.72 using $600 million and $1.87 per share using $650 million.  Take out the 10% they will owe Senegal and you land somewhere around my $1.50 to $1.70 figure.  I actually upped the lower end of my estimate after the study.  I was thinking $1.25 on the low end.

Those reserves of 2.335 million with a 2.59 grade are the key here.  If they can get $150 per ounce for them that would be $350 million alone.  Getting around $300 million more for the remaining gold and blue sky would be great and get us up to $650 million.  This is just my opnion and it would make me extremely happy if my estimate proves to be conservative when all is said and done.  Thanks again 1sanman1.