The problem of precise estimation of the position and orientation of multiple dipoles using synthetic EEG signals is considered in this paper. A nonlinear constrained optimization problem with regularization is solved and the results com-pared with popular research codes namely EEGLAB. A thorough sensitivity analysis of the estimation algorithm to the parameters in the assumed signal measurement model is conducted. The numerical results and comparisons with the EEGLAB show very good agreement, with little pre-processing required for the acquired data EEGLAB tutorial data https://eeglab.org/tutorials/tutorial data.html