Omega Navigation Enterprises, Inc.(fka ONAVQ)

[srm4u]

ATHENS, GREECE, Jun 01, 2012 (MARKETWIRE via COMTEX) -- Omega Navigation Enterprises Inc. announced today that, in connection with its Chapter 11 proceedings in Houston, Texas, Omega and its major creditor constituencies are continuing to engage in mediation discussions concerning a potential Chapter 11 plan of reorganization. In connection with the mediation proceedings, the parties have agreed (subject to Court approval) to extend various deadlines in the Chapter 11 proceedings, including the extension until July 20, 2012 of Omega's exclusive right to file a Chapter 11 plan of reorganization. The details of the mediation process remain confidential.
http://www.otcmarkets.com/stock/ONAVQ/news