Oromin Breaks Out!!
The stock looks great!
much better than in recent months, Today it broke well above the 200 day moving avg
DRILL MOBILIZATION AT SANTA ROSA, ARGENTINA
Oromin Explorations Ltd. (“Oromin”) is pleased to report that the mobilization of the rig for drilling
well OLE.MD.SREX2001 on the Santa Rosa Dome Petroleum Prospect is now under way. After
spudding, it will take approximately 7 to 10 days to reach the target depth of approximately 1,300
metres to test the Conglomerate Violaceo, Barrancas, Potrerillos and Las Cabras formations. An
announcement will be made when spudding commences.
The Santa Rosa Prospect is a 200 to 300 square kilometre shallow dome structure located within an
approximate 7,600 square kilometre concession in the Cuyana Basin, Mendoza Province, Argentina.
The interest holders of the Santa Rosa license are now indirectly Oromin as to 67.52% and Otto
Energy Limited of Perth, Australia as to 32.48%. Oromin is the project operator.
A National Instrument 51-101 compliant technical report on this prospect was filed on SEDAR on
July 9, 2008 and is available at www.sedar.com
To find out more about Oromin Explorations Ltd., visit www.oromin.com.
On behalf of the Board of Directors of
OROMIN EXPLORATIONS LTD.
great move yesterday…wish we had an update on Sabadala don’t think we have heard anything for nearly a month.
anyone have today’s depth chart?
Depth By Price
Bid
Orders Volume Price
1 1,000 1.13
2 5,000 1.09
1 4,500 1.08
1 5,000 1.07
1 2,500 1.06
Ask
Price Volume Orders
1.18 2,650 3
1.19 500 1
1.20 2,000 1
1.24 4,500 1
1.25 5,000 1..Oromin depth 6:59 Vancouver time.Good luck everyone.dsh
I don’t believe Oromin has ever been a stock you can really chart. I won’t consider any
“break out” unless we get a nice upward movement followed by significant volume.
Once we start seeing 250K-1million+ shares, we all know that this stock can be
taken down quickly with a small amount of selling pressure.
Caliche: if you have time, can you set up one of your surveys for SR. i.e.:
1. Who thinks it is a “Duster”
2. Under 50 million barrels
3. Over 50 million barrels
or something like that, I would like to see what the consensus is. By the way, if we
hit, I may want to borrow your new ride…
Take care,
G1
mino2126—-Last update on the gold was mid-May , two months ago……In my opinion , we are OVERDUE , but then Oromin mgmt does not put a high priority on keeping their investors informed…I hope someone brings this subject up at the AGM next week…Not interested in “pumping” , but common courtesy should dictate they do a much better job than they have so far shown…..With five to six drills turning ,there is certainly more news they could give us more often than every other month…If they wanted to !!!
Wish there were some higher bids in there…oh well.
Arlene…thx. I knew it had been awhile was hoping they would publish something soon I am sure they shared some pertinent info with IMAGOLD that we might have not yet seen. Oh well.
Heads up . it looks like GRL Gleichen is on the launch pad . News next week i hear .. cheers
caliche
Depth By Price
Bid
Orders Volume Price
1 1,000 1.15
1 5,000 1.12
2 12,000 1.11
5 18,500 1.10
2 6,000 1.09
Ask
Price Volume Orders
1.16 2,500 1
1.17 2,500 1
1.18 2,150 2
1.19 10,300 1
1.20 2,000 1…Depth 7″13 Vancouver time.Here’s hoping to a hit in SR.dsh
Caliche—I trust (and hope) that you do plan to attend the AGM and will provide the rest of us a summary of the pertinent information obtained….Those of us who have been with Ole for some time really look forward to your recaps..and APPRECIATE them.. Thx , Bob
Oromin NR , 7/10/09 , (see web-site) , granted 3.9 million options at $1.12 per share which are exerciseable up to 7/10/14…..This further dillutes our holdings by another 3%……Surely do hope that this is the last of the dillutions…..What is it now, fully dilluted , 108 million shares ???
Oromin30-45 day timetable……My guesstimation is as follows,,,,July 8 – 20 assemble drill rig at Santa Rosa , prepare to spud , then July21 – 30 will be the drilling (when we find out out if any oil there)……then July 31 – Aug 8 flow test to see just how much oil is actually there…Aug 9 – ?? Celebrate and wait for Senegal Pre-Feasibilty due NLT Aug 31…Maybe someone can verify this guess at the AGM on July 14…
i will indeed be there and do the usual full report
Caliche:
Get ready for a big dose of BS, I remember how excited you and Ron were after last years AGM, only to hear Ron bitch all year, and I believe your feelings wavered a bit over the course of the last year as they kicked us in the balls again…
G1
Can someone tell me how long this process will take on the oil? Once they drill and if they hit, how long should we expect for it to take for them to estimate the reserves?
Also, say they announce that they have 132,000,000 barrells (which is what they claim is most likely per the resource evalaution on the website), what formula do you use to calculate what the share price should be? I come up with around $40/share. Is that correct?
Additionally, what should we expect after the pre-feasability study is complete on the gold?
I’m just trying to figure out how good this will be and how much longer we have to wait.
Thanks!
Maybe , now that these latest stock options are completed , we will get no more delays for spudding at Santa Rosa and an overdue NR re Senegal will be shortly forthcoming…
maybe…..
You know there’s trouble when?? BROTHER, CAN YOU SPARE AN AMERICAN BUFFALO?
U.S. Mint gold, silver coin sales ‘temporarily suspended’ – again
Sales and suspension of gold and silver coin or bullion coin sales by the U.S. Mint are becoming a regular part of doing business as overloaded refiners and mint facilities struggle to meet continuing high demand.
Author: Dorothy Kosich
Posted: Tuesday , 14 Jul 2009
Depth By Price
Bid
Orders Volume Price
3 7,300 1.24
1 1,000 1.20
1 5,000 1.11
4 19,200 1.10
1 1,500 1.09
Ask
Price Volume Orders
1.24 9,600 4
1.25 5,000 1
1.26 2,000 1
1.33 600 1
1.37 2,000 1…Depth Vancouver time 6:11.dsh
When is the AGM?
Mallard—-AGM is today 7/14…….Caliche will probably post some info on it late today or tomorrow….He typically gives great summaries on these events..
Thanks for the info.. I really appreciate your posts. I am a bit confused though, they also had one back in January. You are so correct about Caliche and his summaries.
Depth By Price
Bid
Orders Volume Price
1 8,000 1.14
1 5,000 1.13
1 10,900 1.12
2 9,500 1.11
5 21,700 1.10
Ask
Price Volume Orders
1.16 16,400 1
1.17 500 1
1.18 500 1
1.20 500 1
1.22 5,000 1…Vancouver depth 12:56 Vancouver time.dsh
spud end of the week ..
the drilling should take less than 10 days once they spud later this week.. share price depends on recoverable reserves .. they have some idea now but wont know till its proven with a flow test and an analysis of the oil etc..also take present value depreciation of the oil ..the 51 101 says about 2.3 BILLION multiplied by oromins share and divided by outstanding shares gives a very rough idea
i think it will be very good very soon!
Depth By Price
Bid
Orders Volume Price
1 500 1.25
2 5,000 1.19
2 15,500 1.18
1 8,000 1.14
3 23,900 1.12
Ask
Price Volume Orders
1.28 5,000 1
1.30 500 1
1.31 500 1
1.33 600 1
1.34 4,500 1…Morning depth 7:27 Vancouver time.dsh
Goldn1…….Are you getting closer to considering Ole in a “breakout’……Price up significantly and today , between t.ole and olepf , the volume came close to your 250,000 shares traded threshold …Looks to me like you just may recoup a condiderable chunk of your paper losses in the next two-three weeks….New subject , have you heard any rumors ,or have an opinion , when we might get next NR on Senegal ??? Been over two months now since the last one……Way overdue …..Ole outdoing themselves on lack of timely information on this one ….Maybe it is a really great one and they are just saving it to have if SR proves to be a duster…They will need some “damage control” and this way they would have a 1–2 punch with that NR and then the PF in short order…
Depth By Price
Bid
Orders Volume Price
1 1,000 1.22
2 3,500 1.21
2 1,000 1.20
1 2,500 1.19
1 20,000 1.18
Ask
Price Volume Orders
1.28 500 1
1.29 1,000 2
1.30 5,000 1
1.33 600 1
1.37 2,000 1…Depth Vancouver time 6:35.dsh
Arlene:
I still don’t consider it a “break out”, I hope we all do soon. Unfortunately my average is $2.65, I thought about doubling down at $30-40 cents, but after getting hit for 7 figures, I didn’t pull the trigger.
I will check on Senegal, the closer we get to the prefeas, the less likely we will see an update.
In regards to SR, I have confirmed spudding is today or tomorrow, and it will be a long 10 days… In my opinion, they may be looking to see what happens in SR before releases Senegal as they might use the gold update to offset any bad news at SR. I hope we have a one-two punch and hit them both, I think I will srtart sleping better at night and start growing back all the hair that I have lost seeing this stock crash…
Take care,
G1
Drilling is underway:
DRILLING COMMENCES AT SANTA ROSA, ARGENTINA
Oromin Explorations Ltd. (“Oromin”) through the Argentina subsidiary, Exploraciones Oromin S.A.
(“Oromin”), commenced drilling its first well, OLE.MD.SRE X-2001 on the Santa Rosa Dome Prospect
on July 15, 2009 at 5PM, Pacific Daylight Savings Time.
It is anticipated that it will require less than 14 days to drill to the target depth of 1,300 metres. The
Santa Rosa Prospect is a 200 to 300 square kilometre shallow dome structure located within an
approximate 7,600 square kilometre concession located in the Cuyana Basin, Mendoza Province,
Argentina.
Well it’s nearly 24 hrs since the start at SR. Cant believe it…. finally spud/drilling has started.
Well,,, whats everyone think? Lets take an informal survey here…. do we hit oil or not? and you cant say…. dont know, or…. hope so. Dr H are you out there?…. your guess counts triple.
I say…………………………………………… yes.
Goldfather must be drinking early on a Thursday night as you are never positive. I am heading back down to Ft. Myers/Naples tonight to look at props, you have any for me:?
Goldn 1..
Sure,,,
I’ll e mail you now.
Depth By Price
Bid
Orders Volume Price
1 5,000 1.22
3 2,200 1.20
2 5,000 1.19
1 20,000 1.18
1 4,500 1.15
Ask
Price Volume Orders
1.24 19,300 1
1.29 5,000 1
1.30 9,500 2
1.32 4,500 1
1.33 600 1….Depth 7:23 Vancouver time.dsh
Depth By Price
Bid
Orders Volume Price
1 1,100 1.25
1 5,000 1.24
2 5,100 1.23
1 5,000 1.22
1 500 1.21
Ask
Price Volume Orders
1.28 1,500 1
1.29 1,500 2
1.30 5,000 2
1.33 600 1
1.36 4,500 1….Depth 11:30..Vancouver time.dsh