OROMIN'S YEAR END FINANCIALS DELAYEDMr. Chet Idziszek reports
OROMIN'S YEAR END FINANCIALS DELAYED
Oromin Explorations Ltd.'s year-end financial filings, due June 30, 2008, are delayed, due solely to delays in compiling year-end information from the company's joint venture interests in Senegal, Africa, from the recent scaling up of operations on its oil and gas project in Argentina, and from the workload of carrying out an audit of internal controls pursuant to U.S. Sarbanes-Oxley legislation. The late filing in no way reflects the financial condition of the company -- the company is well-financed and exploration on its Sabodala property is going extremely well.
Reflecting the delayed financial filing, the company requested and the British Columbia Securities Commission has granted a management cease trade order (MCTO). Under the terms of the MCTO, the company will provide biweekly update reports as to the completion of the audited financial statements. The MCTO only applies to the company's directors and senior officers, and does not restrict the ability of the company's public shareholders to buy and sell shares of the company.