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Oromin Explorations Confirms Take-Over Talks; Shares Rebound 35% Since Dec. 1 Low

Oromin Explorations Ltd. (OLE.TO) shares are now up more than 10% at $1.08 each, earlier pressing as high as $1.15 a share after late yesterday confirming it is in discussions with an unidentified suitor "that could lead to a potential acquisition of the company."

Oromin has been moving higher over the past week, with the stock adding 29 cents for a 35% advance since falling to within a nickel of its 52-week low on Dec. 1. Volume also has been increasing daily as well, exploding to 314,000 shares traded Wednesday and already topping 500,000 shares today.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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