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Mms unloaded some shares today, last time they did this was in the .01s and retail scooped them right up. Let's see if that happens again... After all we still had a nice pr today
Hope we can breakout out of the falling wedge pattern tommorrow, if so I'll buy more
would like to see resistances fall for a change...
You shouldn't be playing the market if you can't handle alittle red in your account... I bet you sell low alot don't you
Incredible news!! A/s reduction completed! Revenues in the "tens of millions"!!
Weeeeeeeeeeeeeeeeeeeee
GL today everyone! See ya tonight
OMDA Oil and Gas, Inc. Issues Its Report on Concord Dome Lease Revenues
HOUSTON, TX -- (Marketwire)
05/27/10
OMDA Oil and Gas, Inc. (PINKSHEETS: OOAG) wishes to offer the first in a series of updates on the Concord Dome project. Due diligence on this prospect is ongoing with data being collected from several sources. OMDA is releasing the information as it is being received. Further updates are expected to be reported to the company over the next few weeks which will be released to the public.
The Concord Dome is a reference to an area of about 160 acres in Anderson County, Texas with 18 leases housing a number of existing and currently producing oil wells. Third party reports estimate the long term potential of the existing wells on Concord Dome to yield over 1 million barrels of oil. Surrounding the Concord Dome is a vast area of land in the hundreds of acres which may be available for acquisition by OMDA, and is projected to have as abundant an oil supply as Concord Dome itself.
Accurate revenue projections data is still being compiled but preliminary estimates at current oil prices could place OMDA's revenue share over time in the tens of millions of dollars. The company will provide a more detailed breakdown as those reports come in.
Overall production to date has been below reasonable expectations due to several factors. One of those factors was the capping of some of the lesser producing wells in order to make better use of available resources and place focus on the greater producing ones. Perhaps the biggest issue which hampered production was the former lawsuit. With the lawsuit having reached a resolution, production on the existing wells can now be accelerated and increased significantly.
Within the next several weeks OMDA plans on sending one or more members of its management team onsite to meet with the company's drilling partners, tour the facilities, walk every lease and get a firsthand look at the progress to date, as well plans for future drilling. During that visit, detailed pictures and video will be taken of the property, wells, equipment, tank batteries, etc. and placed on the company's website as promised for the benefit of all current and prospective shareholders.
OMDA expects to release the next Concord Dome Update within 7 to 10 days. In that stage 2 report the company will provide more detailed information and a more specific breakdown, including engineering report findings which are forthcoming and will be passed on to the public.
"Concord Dome is a very important and potentially very profitable project for OMDA for many years to come," said Adam Barnett, Chairman and President of OMDA Oil and Gas Inc. "Over the next couple of weeks as we continue to gather and release more details, our shareholders will get a more complete picture of the prospect and a much better understanding of its long term potential. Up until now this prospect has not been drilled to anywhere near its potential. Our plans are to work closely with our partners and get the maximum production we can from Concord Dome for the next decade and beyond. We are also considering acquiring some of the surrounding acreage in order to continue to bring more wells online and ultimately harvest much more oil than just the 1,000,000 barrels that are recoverable right now."
In another development, OMDA Oil & Gas, Inc. and its Board of Directors are exploring a Joint Venture opportunity that they feel will be very lucrative and provide an additional revenue stream for the company. This would be an all cash deal. The company should have enough research and negotiations accomplished to share an extensive update on this opportunity next week.
OMDA is also announcing that the reduction of the authorized shares from 10 billion to 250 million has been completed. The new authorized shares limit is now in force and has been submitted to www.pinksheets.com to be posted to OMDA's company information section.
Mr. Barnett commented, "Once the lawsuit was resolved the first order of business was to completely change the company's share structure. After lowering the authorized shares and canceling the preferred shares we have not only given our shareholders a direct say-so in all major decisions, but we have also put them into a position to receive benefit much more as the company moves forward with oil and gas production."
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.
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
877-441 OMDA (6632)
IR@omogoil.com
www.omogoil.com
Another steller day here! Weeeeeeeeee
Nice day guys, a 90% gain day and I'll be even. Boy I played this one wrong...
I don't see a selloff anytime soon based on the way it closed. The buying pressure is on and the pr today was a juicy one. The momo has more room to go IMO.
WOOT! Still got all my shares!
OMDA Oil and Gas, Inc. Has Retained a CPA Auditing Firm to Bring the Company to Fully Audited Status
HOUSTON, TX -- (Marketwire)
05/25/10
OMDA Oil and Gas, Inc. (PINKSHEETS: OOAG) is pleased to announce that it has retained the CPA firm of De Joya & Griffith and Company LLC www.dejoyagriffith.com to audit the company's financials. De Joya & Griffith were selected for several reasons including their specialization in public company audits and their expertise with the oil and gas industry. Initial retainer fees have already been paid in cash, as will all subsequent payments. OMDA will not be using stock of any kind to pay for these auditing services, or any other future services rendered. OMDA is operating on a cash basis and is unable to issue new stock without a proxy and a majority vote of its shareholders.
OMDA has made previous attempts over the years to be properly audited, including hiring and paying another CPA firm at one time, but several factors together with the recently resolved lawsuit have severely hindered those efforts. Among those factors were incomplete and/or nonexistent information which was never turned over to OMDA from previous management. Until the resolution of the lawsuit OMDA's books were essentially impossible to properly audit.
"This is a monumental announcement for OMDA and for all of our shareholders," stated Adam Barnett, Chairman and President of OMDA Oil and Gas. "For several years it has been our objective to become a fully audited company and now we are able to take this big step towards realizing that goal. With the lawsuit behind us and a clear picture of OMDA's true assets we are finally able to undertake this task." Mr. Barnett also said, "Among the criterion I had in mind when selecting an auditing firm, it was important that they agree to provide weekly status updates on the progress of the audit in order for me to pass that on to our shareholders. Each shareholder has a stake in the company and I want them to be fully informed every step of the way. We expect this audit to be completed by year end or sooner, at which time we anticipate being able to transition off of the Pink Sheets and onto the Bulletin Board."
OMDA management has also reiterated its promise to release a more detailed Concord Dome update within the next few days. When asked about this project, Mr. Barnett commented, "There are many stages of compiling the massive amount of information for a detailed and accurate Concord Dome update. The first stage will be released this week. Many more substantial updates will follow and include reports, revenue numbers, timeframe for paying back investors, etc. and will be forthcoming before mid-June. With the various partners we have in these wells gathering complete and detailed information is very complex and time consuming, but I want to ensure that we answer every possible question about what we own and the history of that ownership. The history of the prospect is very extensive. Drilling has taken place many times during our ownership of the program and production has been on and off and has endured many changes over the last seven years. The thorough and extensive report on Concorde will include a detailed history, and will leave no stone unturned." Mr. Barnett also said, "I want to thank each of our shareholders and express my appreciation for their patience during this long process. We are committed to making OMDA a strong and transparent company in every way possible."
About De Joya Griffith & Company, LLC
De Joya Griffith & Company, LLC, a full service accounting firm based in Henderson, Nevada offers a wide range of audit, tax and business services that include preparation of audited financial statements, tax compliance, and various consulting services for individuals and business entities.
De Joya Griffith & Company specializes in serving both public companies under the Securities and Exchange Commission rules as well as privately held companies. Professional affiliations with organizations like Russell Bedford International and the American Institute of Certified Public Accountants (AICPA) allow the Firm to provide a wide range of services utilizing international, local and global resources.
anchor up?? How about clear the damn runway! Qasp coming through!
Glad I held all my shares! Whoo-hoo
Nice day guys! I won't be able to post during the day anymore...no phone service where I'm working.
Looking for .02s very soon!
Wrong, there hasn't been any hardly any volume compared to the 175k in the float... The float is locked up and moves on nothing. Take a look at cdiv and katx, see what happens to tight floats? IMO
You are correct. The most they could print is just over 6 mil so that won't have any effect....and I don't see it happening anyway. Once the a/s is finalized we won't see the printing press for sure. I see that pr giving the pps a good lift.
I don't expect news everyday either, however we should see an update about the reduction of the a/s being final anytime
It trades very thin. I slapped .013 and .014 Friday and it did t take much to knock them down.
Hoping for more news tommorrow morning and we should break .02 very easily IMO...heck, we'll prol break it w/o news
Going by the pps, I'd say ooag is the winner...GLTU
looking for .03s this week
Right!
Most here should be taking a look at AAPL, FDX, DE, F, ect....
If they can't handle the pinks? they shouldn't play em'...
OOAG
OOAG
Um, yeah... If I thought it was going there I wouldn't be buying.
The float is very tight, that's why I refuse to sell here. Just think where the price will be if we got a 30m volume day
I bought a few more at 13 today too...
Wish I had the balls to unload all my qasp and put it here, that's where all my $$$ is at...
Yup, low float and moves on nothing. It went to .0182 on barely any volume... The float seems very tight....
Momo is increasing each day, a big pr and this should move fast IMO
Nice day boys... Held the gains very nicely!
Still have all of my shares, looking for higher prices
OMDA Oil and Gas, Inc. Announces the Cancellation of All Existing Preferred Shares and Will Provide a Thorough Update on Concord
HOUSTON, TX -- (Marketwire)
05/20/10
Adam Barnett, Chairman and President of OMDA Oil and Gas, Inc. (PINKSHEETS: OOAG), announces that the company has canceled all existing preferred shares of stock in OMDA Oil and Gas, Inc.
Initially these preferred shares were created and issued to Adam Barnett in order to protect the company and its shareholders against the possibility of a hostile takeover. While OMDA was engaged in its recently resolved, lengthy legal battle, it experienced a significant drop in market capitalization over a prolonged period of time. The depressed stock price put OMDA in a position of vulnerability to a hostile takeover which may have jeopardized the company's standing in its lawsuit at that time. Under advice of legal counsel, the company issued preferred shares with special voting rights to its Chairman Adam Barnett, so as to protect the interests of the shareholders. With the company's lawsuit now resolved, Mr. Barnett and the board of directors have unanimously agreed to and signed a resolution to cancel all preferred shares. With this transaction completed OMDA no longer has any preferred shares issued and will no longer retain majority control of the company. Consequently OMDA will now require proxy decisions from its shareholders in order to carry out any major changes to the stock structure including issuance of shares, stock splits, and raising the authorized shares among other actions. The previously announced decision to lower OMDA's authorized share total down to 250 million has already been board approved, signed and is being filed before the weekend.
"As president of OMDA, the biggest responsibility I have is to increase shareholder value," said Adam Barnett. "Our shareholders have stuck with us through many tough and challenging years while the share price was down. Now with the lawsuit behind us I have taken several measures including cancelling these preferred shares in order to instill confidence in our existing and prospective shareholders." Mr. Barnett continued, "Management has no intentions of any future stock issuances of any kind, reverse splits, raising the authorized shares or anything else that could adversely affect the company. That being said, those actions would only be possible with a majority vote from all of our stockholders of record. If the vote from our thousands of shareholders on any voted on issue came back 'no' then it would not and could not be done. We wanted to make a bold statement to our shareholders and send a clear message. By relinquishing majority control, management cannot take any share structure changing actions without the consent of a majority of our shareholders via proxy."
OMDA is also announcing that it expects to provide a thorough update on the Concord Dome project sometime next week.
"We are in the final stages of putting together a detailed report on Concord Dome. This project is very important to OMDA and we expect it will be a significant revenue stream for our company. I look forward to releasing this update in the very near future and to discuss the Concord Dome project with much more detail," stated Adam Barnett.
It was just an example, go eat another cheeseburger or something fat...
with just 50m in revs the stock would be worth .20 But I go by o/s and not the float.
Huge possibilitys here IMO, huge...
Nice float!
Thanks for the update on the cc... Was out all day and I'm still out.
Wow, 900$ m in mineseekers contracts!! $$$$$$$
maybe this really will hit a buck a share
They're not reducing the o/s, just the a/s...therefore leaving no room for dilution.
There's really no way at this point what the pps could/should/would be without knowing revenue numbers, it's all speculation at this point IMO. But, seeing that the o/s is only about 242k, it wouldn't take a whole lot of revs to make this soar...
because whoever is buying knows the pullback was gonna happen, and so did I. Why pound the ask when you can buy cheap at the bid?? Ooag will go back up, to low of a ss with possible huge news pending.
I hope they give it to us again in the morning, make it three prs in a row!
boatman- the volume is soooo low for a stock with 1.2b o/s. The longs are holding... and we will all make money here.
You better hurry up and slap that ask hard in the morning!
But going by today's trading it's getting real thin, good luck...
Slapped 18s and 19s this morning...let's see if the ol saying "volume before price" comes true here...
I placed my bet
GL everyone
You are correct, I've done it before.
Hope we have a good week here, it about time qasp has it's run...
bounce play IKTO
Dip and rip!!!
.05 coming soon IMO