Oromin Explorations Ltd OLEPF

RE: Teranga lowers production.....

[tony1969]

TGZ also mentioned that their cost per ounce will rise to $650 to $700 per ounce in 2013 compared to their previous guidance of $600 to 650.  They knocked the hedge contact balance all the way down to 38,000 ounces.  They are way ahead of schedule there.  They should have that completed by the end of this quarter. This would be just in time to free up some cash flow and earnings power for the possible OLE acquisition or merger.  They had mentioned that they would not be done with the hedge until August 2013.