OMDA Oil and Gas, Inc. (OOAG)

[Gatorelf]

At a recent status conference on March 23, in Harris County, Texas, the judge in the case of OMDA v. Lanza et al., determined that a ruling date will be set within two weeks concerning the motion for partial summary judgment. As stated in the June 18th press release, this summary judgment would establish that: (1) OMDA Oil & Gas Management, Inc. and OMDA Oil & Gas Services, Inc. were set up as subsidiaries of OMDA; (2) that as of September 9, 2003, the date that Adam Barnett acquired control of OMDA, OMDA was, and still is, the parent company of those two subsidiaries; and (3) OMDA, as the parent company of those subsidiaries, is the rightful owner of any and all assets that were on those subsidiaries' books as of that September 2003 date, including the oil and gas properties in both Texas and Louisiana, and any proceeds from those properties. The judge indicated that in the event that any further evidence is needed in this matter, he would give the parties a week's notice to come before him and present further arguments.

The May 4th trial date has been postponed and is expected to be reset shortly after the judge renders his decision in this matter.

"We are extremely pleased this motion will be ruled upon very soon," stated Adam Barnett, Chairman of OMDA. "This ruling could likely signify the beginning of the end of our long and hard fought legal battle. The outcome of this summary judgment proceeding will determine long fought ownership rights, and will greatly aid in the concluding disclosure process before the final trial. We are anxious to put the lawsuit behind us once and for all, and to put one hundred percent of our focus on growing our oil and gas business, as well as expanding into other profitable ventures."