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It is always fun on the roller coaster, there is so many things i like about this stock, the one thing that is mentioned that seems to have been forgotten is that the CEO has a lot of shares and has a vested interest in this company other than just being CEO, and whatever we get he gets big time. A little good news would have kept it above .01 in this stocks case but i think we are going to get a lot of big news first, before we start getting the little news. Investors are not going to lose track of this stock any more, you can be sure if they have not gotten in its on their radar because they know as well as us this could be huge.
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My main reason for calling was when you see a drop in the pps. you always wonder if something went wrong, so i just really wanted to hear that everything is still on track for this company, which it is.
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all these oil and gas stocks..and ethanol stocks ran hard last week and then all retreated. oil and gas isnt going away any time soon. I think the mm's were caught off guard that this many oil and gas penny's ran all at once. usually the oil and gas craze is only enjoyed on the big boards, for the most part. I think the mm's are just preparing themselves and getting ready for the next big run into the summer. the need for oil and gas will not go away. the need is insane right now. bernanke just said today that there's nothing that can be done in the short term to lower prices. ethanol will be needed to replace MTBE.. as well as oil.. soon natural gas will boom.. that will probably be in august. i dont want to pump, but i just bought back into NSOL, finally calmed down.. its bound to go bonkers thru the summer, they are pre-approved for a huge bond from NJ. a great comp. IMO.. Kay, i agree with the .016 guess, thats what i thought all along as we glide into the summer.
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i noticed the thread out there asking where to put their money after NDOL.. so many people pelled all the profits out of these oil and gas stocks. now they are looking for something else thats moving and theres nothing. what else is moving right now. thats why i think these oil and gas stocks run hard again while people on the sidelines race in and chase. theres no where else to put your money right now IMO. ethanol oil and gas will still be strong and will bounce again after people take profits..
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I expect that this will test the upper area of today's candle tomorrow (high 007s to 008 range) morning. The volume dwindled for a few days and returned today and we have a long lower shadow as a result. I expect the bulls will put up a fight tomorrow. Today's long lower shadow is indicative of a pending reversal in sentiment from bearish to bullish again. I particularly like that the lower shadow is directly on the zig zag retrace line. Add in the fact that settlement news is expected and you might have folks buying in before the weekend so as to not be left out if the big Press Release hits. The technicals and fundamentals say we go higher tomorrow. Cheers!
Quite happy about my 0067 buy as I bought a very large amount at that price and just a few uts will make me a great profit.
-------------------- Flip stocks. Never invest in them. Take your profits. All is my opinion. Do your own DD.
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Thanks, cactus. I believe we will see some nice positive movement in the am. Love how the price trampolined off the old 0065 resistance, now support, today and put that long lower shadow on the candle.
-------------------- Flip stocks. Never invest in them. Take your profits. All is my opinion. Do your own DD.
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HOUSTON, TX, Apr 28, 2006 (MARKET WIRE via COMTEX) -- OMDA Oil and Gas, Inc. (OTC: OMOG) announced today that it has approved and now filed a 4th amended pleading adding Black Dragon Resources (Black Dragon) as a defendant to its initial suit filed on March 29th 2005 seeking the declaratory judgment in the district court of Harris County, Texas, 215 Judicial District. The case was originally titled: OMDA OIL AND GAS, INC., OMDA OIL AND GAS MANAGEMENT, INC. AND OMDA OIL AND GAS SERVICES, INC. PLAINTIFFS vs. JOE LANZA, MORGAN WILBURN, III, AND RICHARD I MICHAEL, TRUSTEE OF "007 TRUST", MONTE ANDERSON, TOM NEELY AND DAVID TAYLOR, DEFENDANTS.
OMDA has been actively pursuing a settlement in the case since its initial mediation hearing was held on March 15th 2006. During these discussions, most issues not directly involving Black Dragon, were successfully resolved. It has now become apparent; however, that Black Dragon and its CEO Rick Michaels, along with other defendants related to the Black Dragon company, have been directly involved in the conspiracy of fraudulent conversion involving hundreds of oil and gas wells in Louisiana that rightfully belong to OMDA Oil & Gas, Inc. Although legal counsel for OMDA OIL & GAS, INC. is highly optimistic that the global settlement, which covers all parties and aspects, will come to a quick resolution, they now believe it to be a prudent and wise decision to add Black Dragon as an additional defendant in the unlikely event that trial becomes required.
The initial action was stated as follows: "PLAINTIFF'S ORIGINAL COMPLAINT FOR DECLARATORY JUDGMENT AND REQUEST FOR DISCLOSURES", but was subsequently amended to read: PLAINTIFFS' FIRST AMENDED COMPLAINT FOR BREACH OF FIDUCIARY DUTY, CANCELLATION OF INSTRUMENTS, CONSPIRACY, CONVERSION, EMBEZZLEMENT, FRAUD, MISAPPLICATION OF FUNDS, MISREPRESENTATION, NEGLIGENCE, NEGLIGENT MISREPRESENTATION, SECURITIES FRAUD, THEFT, THEFT OF CORPORATE OPPORTUNITY, TORTIOUS INTERFERENCE WITH CONTRACT, UNJUST ENRICHMENT, CLAIM TO INTERPLEADER, AND DECLARATORY JUDGMENT PLAINTIFFS' FIRST AMENDED COMPLAINT FOR BREACH OF FIDUCIARY DUTY, CANCELLATION OF INSTRUMENTS, CONSPIRACY, CONVERSION, EMBEZZLEMENT, FRAUD, MISAPPLICATION OF FUNDS, MISREPRESENTATION, NEGLIGENCE, NEGLIGENT MISREPRESENTATION, SECURITIES FRAUD, THEFT, TORTIOUS INTERFERENCE WITH CONTRACT, UNJUST ENRICHMENT, CLAIM TO INTERPLEADER, AND DECLARATORY JUDGMENT.
The Company is seeking return of assets along with actual cash damages to include but not limited to the following: a) Any and all actual damages of at least Thirty Six Million Five Hundred Thirty Thousand Two Hundred Sixty One Dollars and 10/100 cents ($36,530,261.10); b) Exemplary damages as determined by the trier of fact; c) Declaratory Judgment that Plaintiff, Omda Oil and Gas, Inc., is the sole shareholder of Omda Oil And Gas Management, Inc., a Texas Corporation; d) Declaratory Judgment that Plaintiff, Omda Oil and Gas, Inc., is the sole shareholder of Omda Oil And Gas Services, Inc., a Texas Corporation; e) Declaratory Judgment that Plaintiff, Omda Oil and Gas, Inc., is the sole shareholder of SHWJ Oil And Gas Co., Inc., a Texas Corporation; f) Declaratory Judgment that Plaintiff, Omda Oil and Gas, Inc., either directly or by and through its wholly owned subsidiary, Omda Oil And Gas Management, Inc., is the owner of those certain 314 leases set forth on the consolidated financial statement submitted to Barnett on or about July 9, 2003.
OMDA has not yet decided to add the most recent pleading to is website, but should the decision be made to do so, a follow-up press release will give the address.
Adam Barnett, Chairman, stated, "I realize that any legal undertaking is an arduous task, and everyone at OMDA has expended much effort in this endeavor over the last year. I am extremely pleased with our joint mediation on March 15th 2006, and I do believe it is in the best interest of our company to resolve these matters through some type of settlement agreement. Having said this; however, we will only finalize an agreement that is both extremely beneficial to our shareholders and that takes into consideration a large amount of the assets that were unjustly taken by former management. We feel the addition of Black Dragon to the list of defendants will only help ensure a favorable outcome if we find it necessary to proceed to trial."
About OMDA Oil and Gas, Inc.
OMDA Oil and Gas, Inc. and its wholly owned subsidiaries, OMDA Oil & Gas Management, Inc. and Texas OMDA Drilling & Operating, Inc. and OMDA Oil & Gas, Inc. (Texas), are in the business of oil and gas production and lease acquisition. Currently, the Company owns average participation interests approaching 47%, in 355 producing and non-producing oil and gas wells in Louisiana and Texas, as well as well as a 75% working interest in an 1,116 acre, horizontal play in the Panola Field, Panola County, Texas. Current acreage interests include a Carried back-in working interest of at least 7.5% up to 37.5% in a 12 well work over play in the Concorde Dome Field in Andersen County, TX, and is currently partnered up with Young Oil Corp., the largest Oil and Gas producer in Tennessee on 46,000 acres in North Central Tennessee, with an initial 20% interest in a six well program and a first right of refusal on any other prospects on the Young leases.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact: OMDA Oil and Gas, Inc. Investor Relations 800-621-0113 IR*omogoil.com www.omogoil.com
posted
I am adding again today picked up more yesterday at.007 and I think this is a bargain and the gamble of the suite is worth the risk.IMHO
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Bond, you will have to add at higher prices because this is very good news imo. This should force a quicker settlement. Essentially, OMOG just called BDGR's bluff. Plus, do you think BDGR wants its shareholders to hear more accusations about its management, etc, in court? I think not. Pay up time perhaps, is closer than the longs realize......
-------------------- Flip stocks. Never invest in them. Take your profits. All is my opinion. Do your own DD.
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You guys have a better understanding of this but I agree just coming aboard but it looks like good leverage to omog that just may well force a settlement and stop some stone walling. And in any case will add a lot of strength to there position
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welk I hope I do have higher prices today I would rather be averaging up than down sounds silly but that is when I have made my best returns
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level 2s look awesome for tomorrow, i see a big rush..
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the risk.IMHO
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