posted
Adam barnett the next jerry jones? the cowboys owner.. he was a young oil guy that started from scratch.... look at him now...
Posts: 6397 | Registered: Jan 2006
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posted
Omog is looking at a lot of oil wells coming back and a cash, i can not even imagine after throwing Black Dragon into the picture. I would guess they had pretty good evidence before they added them to the suit. The next question would be what are they going to do with all these oil properties since they really want to grow the business. I would say you sell some for cash and shares in other companies like the pending CSUA deal because there would be to many to work on for one semi small oil company over a year or two.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
Im guessing black dragon dudes are sleeping less hours tonight.. adams like tony montana lately with these lawyers.. he's got a high quality team of lawyers that are out for blood. imagine a team of lawyers working for a year, without getting paid... PLEASE... the payday is waiting and adam is grinding his teeth to finish this and get on with oil business. shareholders have been questioning him about this for over a year.. he's gonna deliver IMO
Posts: 6397 | Registered: Jan 2006
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You hit it right on the head in that statement. You know these lawyers were not going to risk a sure thing(closing on the settlement) to add another party unless they felt it was a real good case against them(Black Dragon) and a lot more money to reclaim. We want our pps. to go way up but nothing compared to how bad the lawyers want their millions, this is just another hugh plus for us also.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
yep, its looking obvious that adam was completely screwed over along with OMDA.. he is naming names, and not more than one. am i wrong but i dont think that you can directly accuse people of things unless they were convicted of the crime or you admitted to it on paper. its slander if you dont have proof.. looks to me like adam has proof and he is trying to feed the investors all he can b/c he believes in this company. OMOG still is unknown in a way.. the darkhorse in the derby. Im gonna watch this unfold and enjoy. Im gonna stick my head out here on a log and predict a settlement excluding black dragon by wednesday next week.
watch out for nsol.. up almost 20% today.. they will be a major ethanol player in the future.
Posts: 6397 | Registered: Jan 2006
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posted
bottom line.. a team of respected lawyers will never... EVER... work for a cut of the winnings only.. unless they knew they were gonna win... it's a lock
Posts: 6397 | Registered: Jan 2006
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posted
I was doubtful of the suite in the begining but as i did more research I became a believer and I think that we will cook. Just waiting now will buy on any dip I can afford to.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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quote:Originally posted by bond006: I was doubtful of the suite in the begining but as i did more research I became a believer and I think that we will cook. Just waiting now will buy on any dip I can afford to.
the suite??? they dont have a luxury hotel room... hahhahaha
Posts: 6397 | Registered: Jan 2006
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posted
hey, there will be a luxury suite, in vegas... and me in it after i make a killing with omog.. the lawsuit is for real. are you kidding me. we are beyond that. its just a matter of how much....and when.. get in... or fit in your choice.
posted
It's lucky that the CEO of OMOG is young they say that he is a hands on kind of guy but these legal issues just suck the time and energy out of you unless you are an attorney doing every day. I am sure he will also be glad when its over, more power to him for having the guts to go out after these guys i think its great i wish we would see more of this.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
iwish, are you sure your not adam...heeheheeh doesny matter if you are or not... i agree with you wish, been going on a yr now and adam wants to deliver and move on.. problem is that lawyers are probably like. no, slow down.. theres more fish to fry.. be patient. thats why im thinking that he distinguished black dragon,, especially rick michels.. as crooks.. wow.. how can he be naming these people as crooks without proof. this really is something else.. without proof, its slander, sp that means to me he has proof, because adam runs everything by the lawyers first. i cant wait to see how this un-folds. i think adams got them against the wall.. IMO this is all good for us and all bad for the people the team of lawyers are going after, stay calm IMO.. pps is only juggling from speculators and day traders that will always sell EOD...
Posts: 6397 | Registered: Jan 2006
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Don't feel bad even though i went to college grammer and english were not my favorite classes i will bet no one could tell. Now back to the stock at hand i have been looking at the settlement possibilities and tried to guess at the numbers, i am going to low ball it at 300 wells and 25 million dolllars--- 10 working(after lawyer deductions) i think this is way low but i was using this for the purpose of trying to find another penny oil stock to compare it to in pps. I have had trouble doing this, of course we do not know the output of the wells and how much gas they are getting that is not a personal question, any guesses?
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
The only thing I could tell anybody would be a complete guess. The only thing I will say is it will make omog a real produceing domestic oil company with a lot of room to grow and the capital and cash flow to grow with. And that means the pps will rocket. Now what Adam does in the furture with his returned assets and comp. for damages is yet to be seen. But to answer your questions I always figure on the low side and used pretty much what you have stated as far as wells cash depends on what adam and the attorney's work out they may not want anything to do with the oil business and pumps.And of course none of us know who else is going to pop up in this thing we could settle with these folks and there may be lots more to go that we don't know about. If you want to take an average of pbls that is imho undervalued and Amep that is over valued and has about the same number of o/s as omog I see in the near future .08 to .15 in the begining and after the hype the company will trade at value.Could be more look at, nord it is trading at closer to value now at a much higher price than it was during the hype
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
This is a repost of fridays market wire just in case anybody missed it and is a weekend only reader
Member Rated: posted 28-04-2006 08:23 -------------------------------------------------------------------------------- Friday , April 28, 2006 07:22 ET
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
Next week should be interesting. I'm wanting to see if BDGR will respond to the lawsuit or not. If they don't respond I see it as a positive thing for OMOG shareholders and a negative thing for BDGR shareholders. I'm going to be watching BDGR this week to see if the pps continues to decline.
Posts: 260 | From: Carbondale, CO | Registered: Nov 2005
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I am glad you posted their symbol i could not get it to come up when i was looking for the company i was curious what they were trading for(1.50 pps.) this will really hurt them until they get it settled, interesting.
Posts: 3875 | From: ca. | Registered: Jul 2005
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I am glad you posted their symbol i could not get it to come up when i was looking for the company i was curious what they were trading for(1.50 pps.) this will really hurt them until they get it settled, interesting.
I've been following both companies since I started my DD on OMOG. I knew BDGR was involved in the former managements misallocation of assets. I do believe that BDGR bought them from Lanza not knowing that they were really Omda's though. Michaels isn't that stupid I don't think. I can actually see BDGR retaining most or some of Omda's assets in the settlement because they have done improvements and spent money on getting them producing. It may be in their best interest to offer Omda some sort of joint venture or royalty type of settlement.
I see a very interesting week or 2 coming up when we start seeing if theres a response or not. If BDGR doesn't respond to the lawsuit I'm not sure what that will mean but it won't be good for them or their share price. People will start bailing out of BDGR like crazy if they don't put out a PR. JMO
Posts: 260 | From: Carbondale, CO | Registered: Nov 2005
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posted
I am pretty sure they have strong evidence gained while they were doing their searches that's why Omog did not finish up the settlement, this will really have the other company scrambling and they will have to release a pr. and i still think their pps. is going to tumble untill they get it settled.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
should be a good week... meet the press was entirely oil, gas and ethanol talk with cramer, i am thinking that ton of speculators will jump on the oil and gas scene and adam will be there to gain... along with us shareholders oil and gas energy secretary admitted that things will not get better for at least 2 - 3 yrs for oil and gas. I've always owned this, but now my portfolio consists of all oil and gas and ethanol.. like i said in previous posts omog and nsol are winners..... I also like papo now .. a lot.. but I've always believed in OMOg, my posts prove that, and i will go out on a limb and say we sit at .03 at mid summer. and potential much higher.. adam is the man and he will deliver...
posted
^^^^^Cactus I hope you are right. I too have noticed oil and gas being discussed everywhere and no mention of it slowing down for quite some time.
GLTA
-------------------- I haven't slept for ten days, because that would be too long. Posts: 60 | From: SoCal | Registered: Mar 2006
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posted
It sure should be a very interesting couple of weeks I sure hope we get a good pr soon and some things left on the table for rumor that makes this a little more spicy and actually get more attention
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
What you are seeing now..imo.. is alot of posturing. The fact that the ante has been upped lends one to think that things are getting serious.. Adam has upped the ante. I like that..
A lengthly delay is worse for BDGR than OMOG..BDGR dragging their feet has more to lose now than OMOG..imo..
In a down market the preceedings would stall indefinitely. Investors looking to the hot oil markets now see OMOG with the MOMO..
Do not take my word for gospel though.. The accumulation taking place here speaks for itself..
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
i've been saying this for a while.. patience... everything in life is a risk... its all speculation... lets bank....... pling pling, drop drop drop drop, chop chop.. take your pick... payday... lets gear up for next week.. oil and gas lookin good.. real good... REAL GOOD AS AS A spec. play.. lets get PAYED!!!!!!!
Posts: 6397 | Registered: Jan 2006
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posted
I'm ready for the action. I see a possible gap up for OMOG in the morning just like Friday. People have had time to digest the news now. Some people may not have seen it until Friday evening or this weekend.
I also expect BDGR to gap down tomorrow as some will try to get out before the rush. BDGR shareholders will be lucky if they get a PR very early but I don't think it will ease everybodies fears.
Its going to be a fun week.
OMOG is #7 on most requested quotes on pinksheets.com BDGR is #69
Posts: 260 | From: Carbondale, CO | Registered: Nov 2005
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posted
look at the past pr's adam calls out names.... many names.. tying them along with companies... that means something... IMO... hopefully there is at least a partial settlement , excluding black dragon next week. not worried if there is'nt b/c i know adam will hang onto omog, treat shareholders right and pursue what needs to be done.. consider me a happy omog shareholder, I have contacted adam by email...
Posts: 6397 | Registered: Jan 2006
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posted
I would not want to be holding BDGR stock right now at 1.50 pps. i feel sorry for the investors until they reach an agreement with OMOG. and you know that means giving up a lot of their oil properties.
quote:Originally posted by IWISHIHAD: I would not want to be holding BDGR stock right now at 1.50 pps. i feel sorry for the investors until they reach an agreement with OMOG. and you know that means giving up a lot of their oil properties.
.
I wish... so true.. their at a 1.50 pps... whoaaaaaaa... deep pockets... deep pockets.... yeppp...
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posted
They also had a price target issued for the next 12-18 months of 4.00 and they got 2 million in financing for some of their restricted stock, it will be interesting to watch for pr. on their site since they do quiet a few pr's, it seems they will have to respond to their investors quickly at least you would think so.
Posts: 3875 | From: ca. | Registered: Jul 2005
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