HOUSTON, TX, Jul 20, 2006 (MARKET WIRE via COMTEX) -- OMDA Oil and Gas, Inc. (PINKSHEETS: OMOG), announces that it has entered into a lock-up agreement with its Chairman, Adam Barnett. Mr. Barnett has officially signed a lock-up agreement regarding all his personally owned and controlled shares of OMDA Oil & Gas, Inc. This agreement states that he may not "offer, sell, contract to sell, transfer, assign, contract to assign, gift, grant any option, warrant to purchase, or right to acquire; announce the intention to sell, pledge, exchange, contract to exchange, or otherwise dispose or contract to dispose of any of the Shares on the open market or in a transaction or series of transactions which will result in the Shares being available for sale on the open market." This agreement is effective until May 31st 2007. Adam Barnett, Chairman, stated, "I decided to enter into this agreement in an effort to be as open with the shareholders as possible. I have recently begun announcing my share purchases and this is a continuation of that type of communication." Barnett went on to say, "Due to the fact that I have not exercised my right to sell 1% of my company stock since the beginning of the year and that I also do not wish to sell any shares in the immediate future, this lock-up arrangement seemed to make perfect sense for the company and for me personally." About OMDA Oil and Gas, Inc. OMDA Oil and Gas, Inc. and its wholly owned subsidiaries, OMDA Oil & Gas Management, Inc., 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. 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: OMDA Oil and Gas, Inc. Investor Relations 800-621-0113
Posts: 583 | From: Northridge, CA | Registered: Apr 2006
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posted
Seems like we are trading more and more shares on average days. Any one have any insight to that? Maybe i am just imagining this.
Posts: 3875 | From: ca. | Registered: Jul 2005
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You are right this one has put us to sleep does not seem to be anything new from the CEO.
Posts: 3875 | From: ca. | Registered: Jul 2005
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he's all over the place, adam lost me. but i still am playing this. just cant figure out this guys agenda? Im guessing there is no oil, or he's gonna surprise us. Im tired of the carrot dangling in my face though. ive had fun playing other stocks and having a minimal position in this. only reason its at this level is because he did this buyback. too much manip from the forces that be IMO. I just cant figure it out so I'll watch
Posts: 6397 | Registered: Jan 2006
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I'm still in until the settlement. I'm playing with money I can afford to lose so its no biggy. It certainly has been trading slow lately. Even on the higher volume days the pps basically goes nowhere. I've been reading the Yahoo board and theres decent info there. Adam might hire an O&G guy to run the company. He's still buying shares. He was in NY last week about possible merger or acquisition. Just nothing happening to write home about at the present time.
Posts: 260 | From: Carbondale, CO | Registered: Nov 2005
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They seemed to have been in the habit of putting out weekly newsletters; calendar-wise, we might have some kind of news coming out very soon. I'd love to hear "settlement"... Posts: 4 | From: Virginia | Registered: Jul 2006
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We all would love to hear about a settlement. Others that have been in this for a couple years especially.
Posts: 583 | From: Northridge, CA | Registered: Apr 2006
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All depends on their side, they have until October 15th to settle or go to court on Nov. 15th.
Posts: 583 | From: Northridge, CA | Registered: Apr 2006
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It seems like its been a couple of centuries, my feet usually start to twitch when i stay in these pinks to long i hope that doesn't start happening here.
Posts: 3875 | From: ca. | Registered: Jul 2005
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Me too. I am only in 2 positions & both are down. I also believe in both so it is hard. Just want to see what happens with this lawsuit & where it may go from there. AB has mentioned about brining in real oil & gas people to run things. Again its a wait & see
Posts: 583 | From: Northridge, CA | Registered: Apr 2006
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Agreed...Should have known that up 20% yesterday was too good to be true. Time will tell & the clock is still ticking
Posts: 583 | From: Northridge, CA | Registered: Apr 2006
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The thing i am really watching and trying to figure out, is their someone throwing out a lot shares on the market other than just the normal smaller investors buying and selling, it a tough call but it seems like the daily trade volume is getting bigger without any news. Anyone else have any thoughts on this?
Posts: 3875 | From: ca. | Registered: Jul 2005
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I almost bought a little more to but i do not feel comfortable with the volume rising especially since Adam is suppose to be buying, there can always be other reasons, tough call.
Posts: 3875 | From: ca. | Registered: Jul 2005
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Since they increased shares from 1.7b to 2.5b on 6/24 I'm out till I see a bottom. Put my OMOG dollors in BIGN. GLTA
Posts: 758 | From: FOREST,MS | Registered: Feb 2005
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HOUSTON, TX, Aug 15, 2006 (MARKET WIRE via COMTEX) -- OMDA Oil and Gas, Inc. (PINKSHEETS: OMOG) is pleased to announce that the Board of Directors has appointed William Dion to the position of Chief Operating Officer.
Mr. Dion has acted as an independent consultant for OMDA over the last two years and was officially appointed as an officer yesterday, August 14th. Mr. Dion possesses a Bachelor's Degree in Engineering from Clemson University. He has held various Director, Officer, Owner positions throughout corporate America and brings over 25 years of oil and gas experience to the company. His extensive industry knowledge includes years of oil and gas well evaluation in Southeast Texas with Schlumberger Well Service, where he acted as both an on-site manager of logging crews and as a liaison on drilling projects. He has also served as an expert analyst determining valuation in potential projects and gauging their future success and likelihood for completion.
"We are delighted to have Mr. Dion join the team here at OMDA Oil & Gas, Inc.," commented Adam Barnett, Chairman. "His years of industry experience will only strengthen our company and add value to our future endeavors. I have said many times that as we get closer to a resolution in the Lanza lawsuit and as we become involved in more drilling projects, we would need to add additional officers and directors who possess applied experience in the oil industry. I have full confidence that Mr. Dion will enhance the productivity of our day-to-day operations."
"I am very pleased to be expanding my role with OMDA," stated William Dion. "It has been a pleasure working as a consultant for the company over the last few years, but this role will afford me the real opportunity to be more hands-on with current and future project development. I look forward to a long and productive future with the company."
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. 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.
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: OMDA Oil and Gas, Inc. Investor Relations 800-621-0113 IR*omogoil.com www.omogoil.comPosts: 711 | Registered: Feb 2006
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