Oromin Explorations Ltd OLEPF

David Scott response to my email...

[tony1969]

I asked him a couple of questions regarding a resource update and drilling status.

His response was.

 

Good morning Tony,

 

An update to the resource at the OJVG project will be available later this summer. Its very difficult to provide a date, as there is a lot of data that needs to be compiled. Drilling will start very soon as well.

I'm hoping to have an update out to shareholders soon.

 

Regards,

 

David Scott.

 

Comments?

 

 

 

[goldn1]

  It would be nice to know what the definition of "soon" means to DS. Not sure what to read into his response, he could be directed just to give a generic response which has been his style in the past, but the drilling comment would make you think maybe whatever deal they are working on is falling apart...   Probably not the best idea to read too much into what DS says, but it

[topoftheridge]

thanks Tony, Trying to stay positive on your email from DS. hopefully it is BS or maybe IAMgold bought another 10 million shares in a PP? that would be a positive (maybe) or maybe "drilling will start very soon as well, by the new owners"? good luck all

[tony1969]

Hey Top.  The only way that they can start a new drilling program would be by raising more money.  Last weeks Mackie report said that their entire budget for 2012 will only be $6.6 million of which OLE is responsible for 50%.  Most of this would go towards the resource update and the year end feasibilty study.  I will try to find out more.