Filing of Fifth Amended Petition
OMDA Oil and Gas, Inc. Announces Filing of Fifth Amended Petition
via COMTEX
August 7, 2007 1:45 pm est
OUSTON, TX, Aug 07, 2007 (MARKET WIRE via COMTEX News Network) -
OMDA Oil and Gas, Inc. (PINKSHEETS: OMOG) announces the filing of its Fifth Amended Petition, adding additional parties in the Lanza lawsuit.
In April 2006, OMDA Oil and Gas, Inc. (OMOG) announced that it had approved and filed a Fourth Amended Petition adding Black Dragon Resources (Black Dragon) as a defendant to its initial suit that was filed in March 2005. In its Fifth Amended Petition, OMDA adds the following parties to the case: Joe A. Lanza, Jayne Lanza, Morgan J. Wilbur, III, Richard I. Michael, individually, and as Trustee of the 007, the Representative of the Estate of Monte Anderson, Tom Neeley, David Taylor, Black Dragon Resource Companies, Inc., Four Star Oil Company, Four Star Productions, Inc., Petrol Industries, Inc., Wooldridge Production Company, Ltd., Partnership No. 1, Wooldridge Production Co., Ltd., Wooldridge Production, LLC, Lanza Land Management, LLC, SHWJ Oil & Gas Co, Inc., and SHWJ Oil & Gas.
In its Fifth Amended Petition, OMDA not only reiterates its initial allegations that its former management wrongfully took possession and control of oil and gas leases and wells that belong to the company, but also seeks to recover any proceeds gained by the sale of minerals from those leases and wells or other assets acquired by the defendants with those proceeds.
The Fifth Amended Petition can be read in its entirety on OMDA's website: www.omogoil.com.
"I am pleased with the progress that we have made thus far in this case," commented Adam Barnett, Chairman. "Our legal team is very confident that the law is on our side. Unfortunately due process of law takes time. We are anxious to bring this to a successful and expedient resolution for all of our shareholders."
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.
