Oromin Explorations Ltd OLEPF

Chart on OLE.........

[tony1969]

If you look at the 1 year chart you see that there is a huge base around $.80.  As I mentioned in previous posts there seem to be plenty of buyers here in the low $.80's.  Max pain down here but I believe we hold around here and eventually go higher.  We need another statement, drill results, something from the company to solidify us here.

[goldn1]

  Tony:   I have never been able to figure out OLE based on a chart, asset value, POG or any other method. You are right, a statement from them would help all of the retail investors confidence and possibly bring in some more Buyer's. We know their not drilling, running out of money, and taking an extremely long time negotiating a deal with a potential buyout candidate. Investor

[goldn1]

  Just checked Canada. 200K shares have crossed and we are sitting on .80. Obviously, someone has no problem selling at this price...

[arlene2]

Tony.....What kind of statement could the company make?? They confirmed on 3/12 that they were still in discussions with various companies re potential buyout......They probably are not now drilling (and probably haven't been for several months )........The 2012 feasibilty study was most likely only started one month ago and will likely take at least 2 or 3 more months to complete

[Goldfather]

This Co doenst care abt the SP. Never has. And nothing will help at this point until there is PROOF of a b/o. Nothing helps, the POG, the Dollar, the market, Gold Company's market, new drill results, Updated resource count. Nothing helps the SP. And if it does get a bump, it doesnt hold. Always goes back down. Nothing helps. But many here always come up w/ an excuse. When will you get it

[goldn1]

Arlene:   Do you think OLE is dumb enough to start the feasability study 4 months after announcing they are in buyout talks. I would have thought the feasability study may have an effect on the sale price, but they are now risking no drilling for 6 months and being out of cash. A PP at this price with a Buyer in hand will be frustrating. Again, Chet and the Board have mismanaged this company

[tony1969]

Nice to hear from you Arlene.  You are right they do not have much else to say until they announce a deal.  I guess it is just my frustration talking.  It is a perfect storm of negativity for us with the state of the junior market and the uncertainty about a buyout.

[goldn1]

  Has anyone spoken to management at OLE in the last 30 days. they took their time to give themselves  a $2.3 million bonus if they get bought out. I am sure they will give themselves more, but announced this one back in January... I would think that part of their job would be to get us to this point, but Chet is one greedy MF.     G1  

[arlene2]

goldn1----Answer is Yes......I also believe it possible that a more current feasibilty study could have been part of a proposed deal from one of the potential buyers for a higher buyout price....Buyer will have to justify to their shareholders and the marketplace that they made a prudent decision.....Five million plus proven significantly better than Three million plus proven...

[goldn1]

  Arlene:   Dont you think they would have initiated the feasability back in Jan when they stopped drilling?     G1  

[arlene2]

goldn1 ..I am not second guessing anyone......Just speculating that if buyout is a combination of cash and buyer's shares , neither buyer nor Ole want to see buyer's shareprice drop when deal is finally announced..It must look good to the market..     IMO.

[run2gold]

Goldn1 - management termination payouts are coming.   This is standard stuff.  I'm glad for them.  And for me.  ;-)   Enjoy the ride.

[Goldfather]

 Run.... i have heard mention abt the ole Termination Payouts, but havent seen anything regarding these. Where did you see it....  and are we to assume this is to happen in the short term, b/c of the b/o? ...please  elaborate.  thanks

[run2gold]

Goldfather, Termination payouts for change of control (sale) were approved in October and mentioned here on page 6: https://www.oromin.com/i/pdf/OLEMDA111130-Q3.PDF As to the timing, the payments will happen when the sale officially closes. They are "termination payments" because many of the directors and management will no longer have jobs once the property is sold. The majority of the

[rappy7]

Yes, caliche, there is doom and gloom in the air. I even feel it myself. So I wont balme you. But the rational part of me says, from experience, this is the best time to own. When it looks like it can't get any worse is exactly when it gets better.   What about the updated resource estimate? Shouldn't they wait for that to be complete until they do a deal??   The guy at the PDAC

[caliche]

"What about the updated resource estimate? Shouldn't they wait for that to be complete until they do a deal??'   those things are for retail.. any of the suitors will have signed a CA and will have access to all the data and be able to determine in house what ole is worth..lol august!?  are you trying to push it to .70?     caliche

[Goldfather]

Thanks Run.  Thats good to know  that they are planning that way.May be a good sign internally... I personally just want ti sold now... waiting any longer isnt going to get us any better sp to the Retail investors. Maybe 20 30 cents difference. Whats the difference? Long delays would create a Dilution, and that would be a wash  for the little extra they get in a b/o price

[tony1969]

You are spot on Caliche.  That resource and feasibilty BS is just to feed us retail guys something to anticipate.  Like I mentioned before any potential acquirer has any and all info OLE has as far drill results, resources, potential resources,etc.  The confidentiality agreement or agreements are probably mutual so neither side can release any information.