Black Dragon Resource Companies Inc (BDGR)

[tradedilly]

Last Update: 12:23 PM ET Feb 15, 2007


HOUSTON, TX, Feb 15, 2007 (MARKET WIRE via COMTEX) -- 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."