Oromin Explorations Ltd.
OTC Bulletin Board : OLEPF

Oromin Explorations Ltd.

June 27, 2008 09:15 ET

Oromin Adopts Shareholder Rights Plan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2008) - Oromin Explorations Ltd. (TSX VENTURE:OLE)(OTCBB:OLEPF) is pleased to report that its Board of Directors has adopted a Shareholder Rights Plan. The objective of the Plan is to ensure that all shareholders of Oromin are treated equally and fairly in connection with any takeover bid for Oromin. The Plan is not intended to block takeover bids, but will discourage discriminatory or unfair takeover tactics and provide the Board of Directors sufficient time to fully evaluate a takeover offer and pursue alternatives to maximize shareholder value. The Plan is similar to many plans adopted by other Canadian companies. Oromin is not aware of any pending or threatened takeover bid for its shares.

In order to implement the Plan, the Board has authorized the issue, effective today, of one right in respect of each outstanding common share of Oromin. Until the occurrence of certain events, the rights will trade with the common shares and be represented by the certificates for the common shares.

On the occurrence of certain triggering events, including the acquisition by a person or group of 20% or more of the outstanding common shares of Oromin in a transaction not approved by the directors, the rights will entitle holders (other than the acquiring person or group) to acquire shares of Oromin having a market value of $40 for $20, ie. a 50% discount to the prevailing market price. The rights will not be triggered, however, by purchases of common shares of Oromin made under a "permitted bid". A permitted bid is a takeover bid made for all shares to all holders of common shares of Oromin on identical terms, which also complies with certain other conditions, including a requirement that it remain open for at least 60 days.

Although the Plan is effective immediately, it is subject to a shareholder confirmation at the 2008 Annual and Special Meeting to be held July 29, 2008. Once confirmed by shareholders the Plan will be operative for a ten year term.

To find out more about Oromin Explorations Ltd., visit www.oromin.com. Please refer to the maps which set out the Sabodala deposits and zones under "investor info/articles and reports" on the website, and our previous news releases, for additional project information.

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. Readers are advised not to place undue reliance on forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

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