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VANCOUVER, BRITISH COLUMBIA - (Feb. 29, 2008) - Oromin Explorations Ltd. (TSX VENTURE: OLE) (OTCBB: OLEPF) announces that it has retained Otis and Mandy Partners LLC ("O&M") based in New York City as an institutional markets investor relations consultant to the Company.
O&M is a buy side consulting firm specializing in the resource sector. They have been introducing small cap equities to the institutional investment community across the United States and in select European and U.K. markets since 1995. For the past several years, O&M has been a leading agent in introducing senior management of natural resource and mining companies to both specialist and generalist institutional investors.
Services offered to the Company include initiating contacts and meetings with institutional investors, independent money managers and market makers. The engagement commences March 1, 2007, subject to regulatory approval. Terms include minimum cash payments of USD $80,000 over the next twelve months and the grant of 75,000 incentive stock options exercisable for a five year term at the price of $3.40 per share pursuant to Oromin's stock option plan, including vesting provisions.
Chet Idziszek, President of Oromin Explorations, stated, "We are delighted to be working with O&M. We expect that this established and respected investor relations consulting firm will provide a significant expansion to our network of investors, with a particular focus on gold and other resource funds, hedge funds and other private equity houses. We expect O&M's relationships to build on our base, not only across numerous U.S. markets, but also financial circles abroad."
To find out more about Oromin Explorations Ltd., visit www.oromin.com
On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
Cautionary Statement
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
CONTACT INFORMATION:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772 or Toll Free: 1-877-529-8475
Fax: (604) 331-8773
Email: dscott@mine-tech.com
Website: www.oromin.com
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