Oromin Explorations Ltd.
TSX VENTURE : OLE

Oromin Explorations Ltd.

November 16, 2005 17:31 ET

Oromin Explorations Ltd.: Agreement Reached for Drilling Santa Rosa Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 16, 2005) - Oromin Explorations Ltd. (TSX VENTURE:OLE) -

HIGHLIGHTS

- AUSTRALIA'S OTTOMAN ENERGY CAN EARN A 32.48% INTEREST BY FUNDING USD$1.4 MILLION IN EXPLORATION, INCLUDING DRILLING

- OTTOMAN CAN EARN A FURTHER 8.76% BY SPENDING A FURTHER USD$897,000

Oromin Explorations Ltd. is pleased to report that it has reached an agreement in principal with Ottoman Energy Ltd. with respect to Oromin's Santa Rosa petroleum exploration block in Argentina. Ottoman is based in Perth, Western Australia and is currently involved in onshore exploration in the Thrace Basin in Turkey and offshore exploration in the Palawan and Visayas Basins in the Philippines. More information on Ottoman can be obtained by visiting Ottoman's website at www.ottomanenergy.com.

Ottoman has agreed to spend USD$1,400,000 on exploration to earn a 32.48% working interest in the project. Thereafter, Ottoman can acquire an additional 8.76% interest from Oromin to increase its interest to 41.24% (the equivalent of Oromin's interest) by incurring a further expenditure of USD$897,381. Oromin and Ottoman expect the exploration work to include the drilling of up to three exploration wells to around 1,250 meters each.

The Santa Rosa Project is a 7,694 square kilometre exploration block located in the eastern part of the prolific Cuyana Basin in Argentina's Mendoza Province. The Cuyana Basin has already produced about 970 million barrels of oil from fields located in the western half of the basin. The eastern part of the basin is under-explored due to the presumed absence of structures capable of trapping significant hydrocarbons. The Santa Rosa concession, however, contains a domal structure of over 220 square kilometres that may lie on a likely hydrocarbon migration fairway. The dome has not been yet been tested by drilling. Seismic work carried out by Oromin indicates the likely presence of reservoir quality rocks over the structure with a regional seal covering the entire area.

The exploration work comprises some further seismic modelling and the drilling of two or three wells on or near the crest of the dome. Oromin and Ottoman anticipate that the drilling program will take place towards mid 2006, depending on the timing of the final award of the concession and on rig availability.

Oromin currently owns 82.48% of the concession and Surge Global Energy Inc. holds a 17.52% working interest in the project.

In connection with this transaction, Oromin has agreed, subject to regulatory approval, to pay a finder's fee of 75,000 shares of Oromin.

Further to its news release of August 9, 2005, Oromin is also pleased to report that the loan of USD$600,000 has been converted into 1,701,644 units of Oromin, each unit consisting of one common share of Oromin and one non-transferable share purchase warrant entitling the purchase of an additional share of Oromin at a price of CAD$0.43 per share until November 15, 2007.

To find out more about Oromin Explorations Ltd. (TSX VENTURE:OLE), visit www.oromin.com.

On behalf of the Board of Directors of

OROMIN EXPLORATIONS LTD.

Chet Idziszek, President

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

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