posted
saw this post from another guy... example of the power of lawsuit settlements and being caught on the sidelines.
I was invested in a company that settled a suit for 30 mil. on Christmas Eve of all times and the share price went through the roof. I like a dummy had a sell order in and missed the big profits, but I still made a little due to the PPS going up so fast that my sell order didn't kick in until another two cents in PPS had passed my selling point.
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posted
I have personally removed my sell order for this exact reason. I was keeping a sell around .016, but I figure when it blows it might very well blow right past .016 up to .02 or so. It's all speculation, but one thing I have learned is you have to let winners run.
If it runs on no news then I may take some profits, but I certianly will not sell the day the news comes out.
posted
looks like this young oil company is huge in texas, doing dd. been around for 50 yrs. looks like they have tons of money. lawyers lickin their chops.
WHY, would people think that that pr was bad in any way. it was great imo. ceo of a pinkie actually gives a rats arsss about investors. and is willing to take the hard way out of this, fighting for whats his and OMOG.
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posted
To sell all your stock on settlement news like this would be nuts but each person has their reasons. This news would not be just normal news for a penny stock and there will be a lot of poitive things that should happen after the first pr. to really spike this stock, but we need that first pr. on the settlement.
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posted
omog's like the late great rodney dangerfield..
....get no respect..
oil comp with a multimillion dollar judgement possibly coming... under a penny. i mean, adam isnt like the ceo of usxp.. LOL. i guess that so many people are used to ceo's blowing smoke they think adams fos with these lawsuits. i can assure those out their that these lawsuits arent meant to raise the pps on fluff bs. these lawsuits are for real. most pink investors would love to have a ceo in the forefront, looking after investors.
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posted
im thinking either this stays flat and just moves a couple of ticks either way, or we have a nice solid friday with around a 10% gain. people may jump in on friday as a speculation play in case another pr comes our way late friday. People that sold today will probably regret it and jump in tomorrow again. Just speculation on my part, i have a hard time beliving that they'll be strong selling right now. the selling late today was someone spooking cheap shares out of people I think. JMHO everyone
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posted
Just wish I had picked up a few more shares today.
I am in a dilema right now. I belive OMOG is gonna be big, but I am starting to think that PLNS is going to be bigger.
I need to allocate more cash to both investments. I wish I knew which one was going to hit first. My best guess is OMOG is gonna run before the end of next month which is the earliest I believe PBLS will run. Guess I answered my own question here.
Problem is PBLS looks poised to head up now...as does OMOG.
sigh...to many once in a lifetime investments and not enough capital.
posted
I dont own this stock presently but have in the past. I think that alot of people sold because they arent pr'ing about what the company is producing. They are just sueing folks. Not that there is nothing wrong with that but hinging a bet or trade on a settlement PR is kinda risky. Just my 2 cents. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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tman, thats why most investors bailed last year and drove down the pps to .0038 just months ago. the investors all told adam he was nuts for just sue'ing and not pursuing oil and gas more. He even said this very much in a pr last year. defending his opinion that he will win, and omog was wronged. he had no choice to sue BDGR because of the massive embezzlement. go read the accusations they are highly criminal in nature. I'll look up the pr where adam defends himself for doing nothing but sueing. so t man are you saying a team of lawyers are gonna work a year straight, with nothing guaranteed but a cut of the winnings. Unless the payday wasnt their at the finish line due to the strength of the case? These lawyers arent slowing down, adam was screwed. do the dd on this anyone who's interested. these court documents are public record. Im guessing young oil is regretting trying to take advantage of adam now too. maybe they can cry in a corner with black dragon. dd on ceo of this OMOG... adam.. this guy gets what he wants..
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Posted by: stockhound101 In reply to: zangs who wrote msg# 1567 Date:5/11/2006 3:01:10 PM Post #of 1570
We've got a regular John Wayne running the show now. He seems to be looking after the shareholders interest as well. Might as well utilize the lawyers while you have them on retainer and go after all the crooks. How big of an outfit is this Young Company and do they have any money to pay if they lose the suit? I was invested in a company that settled a suit for 30 mil. on Christmas Eve of all times and the share price went through the roof. I like a dummy had a sell order in and missed the big profits, but I still made a little due to the PPS going up so fast that my sell order didn't kick in until another two cents in PPS had passed my selling point.
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posted
tman, he addressed concerns like yours... please read.
Adam Barnett stated, "Our counsel has done an unbelievable job of unraveling the web of deception it appears that former management has woven with the millions of dollars of viable oil and gas assets that have passed through OMDA during their tenure. With the continuously increasing price of oil and gas, the value of these assets has increased significantly and justify the increased cost of engaging the highly respected Zimmerman, Axelrad firm, well-known for its expertise in litigation of issues similar to those involved here, which in turn will hopefully expedite the favorable outcome I feel the shareholders deserve. Nathan will continue to assist in the discovery phase of the litigation, but will be able to devote more time and attention to OMDA's drilling projects and prospective acquisitions." Barnett went on to say, "I strongly recommend any shareholder or prospective shareholder to spend some time looking at the filings on our legal update section of our website, particularly this most recent filing. It should demonstrate how strong a case we really have in repatriating what we believe could be tens of millions of dollars of assets as well as cash damages."
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posted
just wondering if this is'nt the typical pr move by lawyers to strengthen their case against young. im thinking like a lawyer here... dragon settlement news is imminent and coming.. why not take advantage of the settlement news before releasing it. So they sue young and release the pr about that. then the strategy is to release the settlement news with black dragon. then people open their eyes and say geesh, if they won against black dragon, and adam was saying along he was right in suing, he's probably right in suing young oil too. this pr may be nothing but a move to bolster their case. right now adam does look a little sue happy, and desperate in a way. But imagine how hard the tide will turn if they beat black dragon. it only bolsters their future lawsuits. just a theory.. if im right we get news soon on BDGR settlement
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posted
if we open up at all and hold its all good from there, we'll get a bullish reversal confirmation... i dont think we look back either. here is what we are looking at tomorrow
The last two candlesticks formed a Bullish Meeting Lines Pattern . This is a bullish reversal pattern that marks a potential change in trend.
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posted
Young Oil has driven Adam to this, I'm sure, after much frustration and an over-abundance of patience unduly extended to Young Oil. Any businessman knows from experience that contract deadbeats are a fact of life, unfortunately. Sure, not knowing about Young's mounting breach of contract all this time has brought about alot of head-scratching on our part, all-the-while with Adam chasing after them to do what they're supposed to do. It has sadly reached this point to where a lawsuit is the only manner in which to handle this bad deal. IMO, this PR was neither bad nor good, just informational for our benefit. So far as I can tell, it's all Adam can do 28 hours a day just to get OMOG cleaned up and on level footing - laying the foundation for a real Oil & Gas company. OMOG, IMO, will launch like a missile with news of settlement, followed by news on revenues & production, lease acquisitions, and business-building strategies. Cheers! Snappo
-------------------- "A billion people CAN be wrong"
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posted
we may see a lot of speculation buying tomorrow. I think buying pressure will be strong. IMO, very few weak hands own this stock right now. I think they were shook late today
a lot of longs now holding for news and many more people are throwing money at OMOG just for the possibility. i have had 3 or 4 IM's from people wondering whats up with this stock. word is growing. curious to know what kay thinks of the recent news, too bad kay's so busy with work. she really can add valuable input.. I dont put it past adam to spring settlement news... fingers crossed..
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posted
OUSTON, TX--(MARKET WIRE)--May 11, 2006 -- OMDA Oil and Gas, Inc. (Other OTC:OMOG.PK - News) announces that it has initiated a lawsuit in Dallas County District Court against Young Oil Corporation, Young Operating Company, Anthony L. Young, and Chris Jeffries. All parties have been served via USPS certified mail. OMDA Oil and Gas, Inc. alleges that Young Operating Company breached its Contract "by failing to drill wells, failing to report regularly to OMDA, failing to provide a consistent right of first refusal to OMDA, failing to pay OMDA for the gas wells that Defendants reported to OMDA to be producing, and wholly failing to comply with the 'Time is of the Essence' provision."
ADVERTISEMENT OMDA Oil and Gas, Inc. entered into a long-term oil and gas play with Young Oil Corp on June 7th, 2005. OMDA Oil and Gas, Inc. invested $150,000 for an initial 20% interest in a six well program and first right of refusal on any other prospects on Young leases.
Adam Barnett, Chairman, stated, "After many delays in drilling, reporting, and producing requested documents on the part of Young Oil Corp., OMDA Oil and Gas, Inc. had no choice but to file litigation against the company and all involved parties. We have investigated the matter for several months, and we feel strongly we were misled as to the nature of these wells and that we were fraudulently induced in investing our initial $150,000.00." Barnett went on to say, "I have set a tone during my tenure as OMDA's chairman not to stand for any wrong-doings against our company or shareholders, and rest assured, OMDA will pursue this matter with great resolve."
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 100% gross interest in an undeveloped 1,116 acre, horizontal play in the Panola Field, Panola County, Texas. Current acreage interests include a 15% working interest in 800 acres in Shelby County, TX and 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, statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. 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:
Contact: OMDA Oil and Gas, Inc. Investor Relations 800-621-0113 IR*omogoil.com http://www.omogoil.com
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posted
Hi everyone. Didn't even get to log on to my computer yesterday. I was dying to know what was going on. I never expected that kind of PR. To tell the truth it makes me a little nervous but if the price goes down I will definitely buy more. I will say that if Adam is really the person that we believe him to be, then this is in keeping with what we've seen so far...but, all this suing does make one nervous. I'm going to try to do some research over the weekend on Young and see what I can find out. Oh, well...at least pennies aren't boring!
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posted
MsKay it made me nervous at first as well. However as I sat and watched the trading day I can assure you that many people were there to pick up the slack. While there were million share sales going through there were also plenty of million dollar buys going through as well. I think it is going to have a hard time closing below the 8's and time soon.
posted
We'll see how it goes today. I still feel confident that the settlement news on the original suit will bring at least .03-.05 range. This suit from the PR yesterday probably won't make much difference one way or another in the short term unless it means that ultimately Adam is trying to make this a real Oil and Gas company. We will have to wait and see on that. I wouldn't be surprised to see this go down today though. At this point, with all the new investors who really don't know the history, they can get spooked easily.
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Cactus, I wasnt saying what Adam is doing by sueing companies that have wronged OMOG is wrong. All I was saying was that the shareholders that have dropped out may have because the company hasnt really put out much in the way of producing oil. With other small oil companies PR'ing (some with merit some without) news of production it makes investors move their money around. I think if Adam would pr something substancial about production it would do alot for shareholders confidence. I know it would make me think twice about investing here, even if I miss the initial run. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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posted
TMAN I hear what you are saying but the only diffrence here (if you do some DD) is that Adam Barnett was an investor in OMOG, realized that there was real fraud going on, and purchased enough stock for a hostile takeover of the company. Although they have done some real O&G business, Adam has spent most of the time trying to unravel what was going on before he took over. Once he realized how appalling the situation really was, he committed to correcting that and turning OMOG into a real O&G business. As far as I can tell (and I am very suspicious of pennies), he seems to have kept his word on every issue. The former management included a convicted felon and others who were most certainly taking OMOG stockholders to the cleaners. I guess there is some part of me that believes that there are some good people in the world. If Adam is legitimate in the end, he's a modern day hero!
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posted
i agree with you tman, people get impatient. a pr about producing wells would be nice. but since dragon fleeced him for everything he has to go get the wells back.. then he can put out the pr..
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posted
i think that the pr made others nervous because they want settlement news. I dont think that adam would release that w/o settlement news close. If settlement news isnt close, then i question the timing of that last pr. pretty much a waste of paper really since people are waiting on a settlement
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posted
lookin at the chart and past trends .008 is as low as it should go. if it goes lower we should see strong buying pressure. just comparing to past trends
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posted
I think you are right cactus. Unless there is bad news you can count on a million shares worth of reistance from me in the 7's.
I am thinking it may be time to throw a little resistance at PBLS as well.
The entire market has been due for a correction so I am a little leary about averaging down more...but the pinks don't seem to trade in sync with the rest of the market.
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