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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » OMOG Lawsuit settlement (Page 1)

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Author Topic: OMOG Lawsuit settlement
MsKay
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Why is the old topic closed?
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Casp
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Better question why is the old topic closed and why is the stock tanking ?

[Smile]

--------------------
Fact-o-rise

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MsKay
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Any insight?
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MsKay
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Maybe because yesterday's news is not official yet and someone wants the stock to go down so they can buy in before the official news is out? If you close the topic, you bury it so no one can read the thread.
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IWISHIHAD
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I think investors feel it is to good to be true we will have to wait and see, you never know in penny land. Investors felt it would rise more today like me but there is a stall ,thats okay we will just have to wait. I will pick up a few more shares while i wait and watch. Good luck.
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MsKay
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I also feel it is too good to be true; however, I have made money on pennies and I haven't sold any at a loss yet so we'll just keep our fingers crossed. Buy low and sell high...OMOG hasn't been much lower than this so I'm betting on it going up, up, up!
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fryyguyy
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Does anyone know when the news will be made official.
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IWISHIHAD
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This is a guess but it takes a little while for final papers to get finalized in a mediation settlement if the numbers are large i would think it takes even longer. They have to make sure it is all correct this is a court matter. So after saying all that it will probably be next week, just kidding.
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MsKay
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The shareholder letter said in the "next few weeks".
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IWISHIHAD
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I think we are seeing a little anticipation of PR. news on either of the 2 possible deals.
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MsKay
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Seems like somebody knows something. It is up and holding.
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IWISHIHAD
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I think investors are starting to hold their shares.
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striper
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looking good
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IWISHIHAD
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I wish this would get out of this range so i am not tempted to buy any more i am not selling at these prices even though i could make some money, i think the insiders are already in just waiting for the news, should get interesting.
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db
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scottrade shows .0045 bid
.0066 ask
.0059 last
it's been up all day

I still think this stock is a sleeper and is going suprise some people

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MsKay
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Wow! Great Close! I think this will at least go back up to the .011 levels that it was in for months at the last quarter of 2005 and will probably hang there until some good news comes out.
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IWISHIHAD
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I think we are running out of investors that want to sell the price keeps creeping upward.
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MsKay
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This is one that is not well-known by so many investors. I'm sticking until at least 0.019 or maybe higher depending on the news.
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IWISHIHAD
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Talked to them today everything is still on track.
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usasail
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UBSS has been sitting on this bid like nobodies business...now it's this MURF dude, but things will change once PR is issued....ah yes the golden child of PR's, and yes he will soon get his knife...ha. Rest assured to all the ansy folks who want to sell....Confusious sey...if you hold they will come. Patience glasshappah' it takes time to find all a$$et$. Only then will OMOG sign settlement papers with the evil one....or my name ain't Orval Redenbachah'! [Wink]
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IWISHIHAD
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The final settlement papers are suppose to be coming i actually hope they wait a few more weeks, but could come sooner, it really depends on how many parties are involved. The big question is will they go thru with the other sale or hold those assets for there own development, if they end up with a lot of cash in the settlement. This is a very interesting play. I don't even care if this goes down except if it does, I have to keep my hands off the buy button, I did not expect this settlement when i played this stock this is a possible bonus. You never know for sure till the deal is done.
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cactus33
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9 mill in volume already this morning. Gas prices are up .16 cents in the last two months.
OMOG is rebounding off a 52 week low and holding strong at .005. Plus the potential news about the settlement. This stock has tons of potential.
Just my personal opinion

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IWISHIHAD
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Anyone tried to contact the company to get and update. I have tried and have not got a reponse yet, it would be nice to know what is going on at this point.
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cactus33
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As previously announced, OMDA Oil & Gas, Inc. has been involved in an ongoing
lawsuit against former management. The original suit, filed March 29th 2005 ,
sought the return of significant assets including numerous producing and
non-producing wells, as well as actual monetary damages.
Adam Barnett and legal counsel from the firm Zimmerman, Axelrad, Meyer, Stern &
Wise attended a mediation hearing yesterday, March 14th. This mediation was an
attempt to settle the above referenced lawsuit before the trial date next month.
Adam Barnett, Chairman, stated, “ I could not be more pleased that this lawsuit is
now reaching the settlement stage. I was very happy with the mediation yesterday
and the fine job that our legal counsel did in representing us throughout the
proceeding.” Barnett went on to say, “ While I can not comment on the fine points
concerning the events yesterday, I feel confident that the shareholders of OMDA Oil
& Gas, Inc. will be very pleased with the outcome. I hope to have all finalized paperwork
resulting from the mediation soon, and I look very forward to announcing
all details in a formal press release in the weeks to come."

btw, these lawyers were working by the hour, before they took this case on. These lawyers are now only working for a cut, thats is. usually when lawyers do that, theres a good chance their gonna win. lawyers dont usually mess with a year long preceding if they are not going to get something in return. Look for this to run into the summer.

Just my personal opinion, dont take as investment advice.

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cactus33
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This had a strong close on friday, gas is up at the pumps and we are heading into the summer. Looking back at last yr, same time, this stock ran to .016 and that is supposedly when they were getting ripped off by the old management company. Now OMOG's CEO is hinting at a strong settlement coming. I dont think that he would of even brought up a settlement win if it wasnt going to happen. My guess is that the people they were suing were just waiting for the 2nd qrt to begin so they could absorb the money hit they are gonna take from the settlement. Thats just a guess though. Im going to take the gamble that OMOG will win this lawsuit, and the monies won will enable them to purchase more secure wells and enhance existing wells. Dont underestimate this oil play.

Just my personal opinion, do not take this post as investment advice.

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cactus33
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Up 10% early. with heavy volume..
Looking good.
IMO

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cactus33
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lookin for good news in the coming weeks
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MsKay
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OMOG has definitely held this upward trend since a few weeks ago at 0.042 to .0059 today. There's no way it won't go up with all the good news that is due out.
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cactus33
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nice EOD close, didnt retreat like most days.
just hope for good news from here.
IMO

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cactus33
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another good day, with 7.5 million in volume.
The volume has really been good lately. looks like its running to its 200 day avg of .008.
The heavy volume is encouraging and makes me think that somethings coming.
just IMO

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IWISHIHAD
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How is 7.5 million big volume for this stock. I like it for other reasons.
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cactus33
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well, fine... i guess i should change my wording to make you happy. The volume has been encouraging compared to a month ago. I like this for other reasons too. Ive stated them in the thread. The lawsuit, gas prices i think will go up into the summer and OMOG ran pretty well last summer. Thats some of the reasons i like them. What are your reasons?

Just my opinion, do not take as investment advice.

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IWISHIHAD
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cactus33,

I like this stock for many reasons. 1. even if nothing happens and it stays the same it still appears to have better assets than many pennies trading even in a higher rage. 2. If this settlement goes through it will be hugh for this stock and it appears it is still going, they have to make sure that everything is clear before they can pr. us which still could be a little bit longer. There is a lot of legal matters involved in this because it sounds like there are a lot of properties involved, the down side is we have to wait and see and some investors do not want to tie up their money. The low volume we are having tells me that investors are holding now because the up side could be big and the down side is not that bad. We will see, i have been buying more when i get a little extra cash. This is my favorite stock right now i hope they do not change my mind.

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cactus33
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i still dont know what your talking about.. low volume? I remember volume around 2-3 million a day when it was hovering around .004.
7-8 million a day now is very encouraging heading into the summer. Volume is running over the 50 day avg now.
Just my personal opinion

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IWISHIHAD
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I guess its how you want to look at it, i see high volume for this stock 40-90 million, if you see high volume at 7-8 million does not really matter you have your opinion i have mine we both like the stock and i hope were both right.
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