Oromin Explorations Ltd OLEPF

NEWS out !!!

[cantkillme]

GlobeinvestorGOLD.com Company News Alert for Oromin Explorations Ltd
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Oromin Explorations Ltd.: OJVG Gold Project-Q3 Exploration Outlook






VANCOUVER,BRITISH COLUMBIA--(Marketwire - June 20, 2011) - Oromin ExplorationsLtd. (TSX:OLE)(OTCBB:OLEPF) ("Oromin"), on behalf of Oromin JointVenture Group Ltd. ("OJVG"), is pleased to announce it's proposedexploration program for the third calendar quarter of 2011 for its OJVGGold Project (the "Project") in Senegal. The Q3 program will continue tobe dominated by exploration drilling employing three full-time coredrilling rigs. We expect to carry out approximately 13,000 metres of newcore drilling in approximately 60 holes, as part of a USD$6 millionbudget for the quarter, funded equally by Oromin and its joint venturepartner, Bendon International Ltd. This is an aggressive drill programgiven that it will take place during the annual rainy season.


OJVG'srecent focus has been targeting the expansion of established depositsby conducting wide-spaced deep drilling beneath existing resources atthe Masato and Golouma deposits towards delineating down-dip anddown-plunge extensions to outlined gold zones. Oromin will continue thisprogram of successful wide-spaced step-out drilling, while concurrentlyundertaking initial and follow-up drilling of a number of new goldtargets and recent discoveries.


The strategicobjectives of the Q3 exploration program are to identify and outlinepotential new resources and expand the extent of mineralized volumes atmore than a dozen drill targets, most of which are relativelyless-explored zones.


To find out more about Oromin Explorations Ltd., visit www.oromin.com.


On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.




"Chet Idziszek"

Chet Idziszek, President and CEO



Cautionary Statement



Thisdocument contains "forward-looking statements" within the meaning ofapplicable Canadian securities regulations. All statements other thanstatements of historical fact herein, including, without limitation,statements regarding exploration plans and our other future plans andobjectives, are forward-looking statements that involve various risksand uncertainties. Such forward-looking statements include, withoutlimitation, estimates of exploration investment and the scope ofexploration programs. There can be no assurance that such statementswill prove to be accurate, and future events and actual results coulddiffer materially from those anticipated in such statements. Importantfactors that could cause actual results to differ materially from ourexpectations are disclosed in the Company's documents filed from time totime via SEDAR with the Canadian regulatory agencies to whose policieswe are bound. Forward-looking statements are based on the estimates andopinions of management on the date the statements are made, and we donot undertake any obligation to update forward-looking statements shouldconditions or our estimates or opinions change. Forward-lookingstatements are subject to risks, uncertainties and other factors,including risks associated with mineral exploration, price volatility inthe mineral commodities we seek, and operational and political risks.Readers are advised not to place undue reliance on forward-lookingstatements.




FOR FURTHER INFORMATION PLEASE CONTACT: David Scott
Oromin Explorations Ltd.
Investor Relations
[phone] or Toll-free: [phone]
[phone] (FAX)
[e-mail]
www.oromin.com

[newfie36]

  Good to see they are being aggressive on the drilling. Wish they were a bit more aggressive on the promotion of the company and their world class assets.   Does anyone know if they will have to issue more shares to pay for this drilling or do they have enough money in the bank already?  A financing at the current share price will not be taken well with us current share holders

[arlene2]

newfie36---Current total "burn rate" cash is $2 million/month of which Ole pays half---$1 Mil/mo......Ole has  ,IMO  ,  about $12 million so  dillution probably not likely rest of 2011....at least not until  Q-4 2011.....

[newfie36]

  Thanks Arlene. Hopefully with all the new drilling plan and good results we can get the share price back up before they do a financing.   The price right now is ridiculously low and I wish I had more free cash.