Reading the article, I think we know "exactly" where he is meaning the region. Not his precise location. Therefore the need to eventually go in and clean the place out, but that is not tenable for Musharaf right now. If we knew the village he was in I'm sure we'd find a way to launch a raid. Also, this being a war it might be best to keep Osama in the loop for intelligence gathering reasons.
It's interesting that you quoted the word "exactly" in your post because the author of this article, Jim Mohr -- didn't.
Which leads to the question: Why not?