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OMDA Oil and Gas, Inc. Is Awarded Partial Summary Judgment in Lanza Case Feb 15, 2007 12:22:00 PM HOUSTON, TX -- (MARKET WIRE) -- 02/15/07 -- OMDA Oil and Gas, Inc. (PINKSHEETS: OMOG) has been officially granted a partial summary judgment in the Lanza et al case.
Judge Benton of the Harris County District Court granted OMDA's Motion for Partial Summary Judgment. The Court entered an order ruling that the Class D Series Preferred Stock issued to certain individuals was invalid. Judge Benton asked the parties to come to an agreement regarding the amount of attorneys' fees that should be paid to OMDA by certain defendants following the receipt of this favorable ruling under Texas's Declaratory Judgment Act. If an agreement on the amount of fees cannot be reached, the Court indicated that it would entertain further motions related to the fee issue.
Adam Barnett, Chairman, stated, "I am very pleased to announce to our shareholders that we are moving forward in our legal efforts against former management. Our legal team has worked very hard over the last few years, and we continue to make progress. I plan to have further updates soon as we continue our discovery process."
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.
Posts: 155 | From: Florida | Registered: Jul 2006
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The PPS has been so low lately, it's hard to resist.
Do they have any oil/gas operations at all or is everyone just waiting for the lawsuit?
I just know that last summer it was hard to find any oil/gas pennies at subpenny prices. I believe it was around last May/June (summer driving season) that all of the small oil/gas plays spiked.
Posts: 52 | Registered: Apr 2007
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its hard to figure out what is really going on, ive been trying for a year, lol, and im not alone.. far from alone.. treat it as a chart play.. i'll tell you this MICA mm has been selling last 2 days on the ask, imo, they are one of the dirtiest mm's out there, like one office out of florida i think, they killed hvyw. just plain dirty short seller, they may try to take this pos down, watch out AB.. better wake up..
just my personal opionion ......
Posts: 6397 | Registered: Jan 2006
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There is no news on the suite no news on any thing you wonder if that law suite is even real. lol
Posts: 136 | From: chicago | Registered: Jan 2006
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like i said before.. wake up AB and start buying, ive seen you do it before, MICA usually over does it, these guys can be crushed, i got a double from HVYW and MICA antics.. dirty sellers, they still have to cover over at hvyw, im waiting for the day, gonna relish it
just the way i see it...
Posts: 6397 | Registered: Jan 2006
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OMDA Oil and Gas, Inc. Offers Update on Legal Proceedings
Jun 14, 2007 11:30:18 (ET)
HOUSTON, TX, Jun 14, 2007 (MARKET WIRE via COMTEX) -- OMDA Oil and Gas, Inc. (PINKSHEETS: OMOG) would like to take this opportunity to update all shareholders on current legal matters.
Back in April 2006, OMDA Oil and Gas, Inc. (OMOG) announced that it had approved and filed a 4th amended pleading adding Black Dragon Resources (Black Dragon) as a defendant to its initial suit filed in March 2005. Earlier this year, OMDA was granted a motion for Partial Summary Judgment which ruled that the Class D Preferred Stock was invalid. Our legal team is still pursuing discovery on the remaining issues in the litigation regarding ownership of, and rights to, certain wells and leases in east Texas and Louisiana. At a recent hearing in Houston, Texas, Judge Levi Benton ordered Defendant Black Dragon Resource Companies, Inc., to produce documents to OMDA's attorneys, and to answer interrogatories it had previously objected to. The law firm of Tipton Jones, who has assumed lead role in this lawsuit, has scheduled several depositions for the coming summer months in preparation for the trial scheduled on September 24, 2007.
The company would also like to offer an update on the current legal actions against former key member of OMDA Management, Arthur Pocari. On March 28, 2007, in Dallas, Judge Emily Tobolowsky granted a temporary injunction against Mr. Pocari. This injunction enjoins Arthur Pocari from among other things, making disparaging and defamatory remarks about OMDA and its management, and from revealing confidential information. Mr. Pocari is currently appealing the ruling, and the legal issues are being briefed by both parties. Pocari has also filed a Motion to Transfer Venue from Dallas County to Harris County. On May 4, 2007, Judge Tobolowsky conducted a hearing on the motion, and has taken the matter under advisement. As of today, no ruling has been handed down.
As to the current situation with the Panola County Project, Texas OMDA Drilling & Operating, Inc. is currently in discussions with attorneys for S&H Resources, Inc. to resolve issues relating to its participation in a drilling program in Panola County, Texas. Once all documentation has been gathered, and the issues narrowed, the parties hope to reach an agreement that will benefit both companies.
"I put this news out today because I felt it was important to keep the shareholders up to date on the company's current legal proceedings," commented Adam Barnett, Chairman. "I have the utmost confidence in our legal team, and our position in each of these cases. I will continue to give updates on these cases as they progress." __________________
Posts: 52 | Registered: Apr 2007
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I did not realize that the trial was getting close, again. I have not been keeping up on this one. Maybe it is time to get everyone together again and get the Omog train on track again. It appears to have picked up a little weight(shares) since the last time the old train was moving. Posts: 3875 | From: ca. | Registered: Jul 2005
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