Oromin Explorations Ltd OLEPF

G1 read page 5 of the directors circular under Background to the Teranga Offer...

[tony1969]

Here is a quote in case you do not want to read it.

"Discussions were terminated by Teranga as a result of the inability to obtain a waiver from the Government of Senegal in respect o the Back-in Right."

I accept your apology and hope you are doing well.

[hoosier1]

tony... As I understand it, TGZ wanted Senegal to waive it's 25% participation rights BECAUSE Teranga already has an operating mill and the govt of Senegal has a participation buy-in alrady established within TGZ's mining license. Page 52, next to last paragraph... starts with, "On April 2, 2013...provides for a price and formula to purchase the waiver... on any deposits NOT

[tony1969]

You may be right hoosier but OLE has not given us shareholders a clear answer on this. The fact that they keep bringing this issue up in the recent past makes me believe that it is a big deal as far as the OJVG being bought.  The government has a lot of power here since they will be stakeholders for life.  I have heard form more than one OLE shareholder that Senegal wanted way too much