SOURCE: Omda Oil and Gas Inc.

January 10, 2008 11:22 ET

OMDA Oil and Gas, Inc. Offers Legal Update

HOUSTON, TX--(Marketwire - January 10, 2008) - OMDA Oil and Gas, Inc. (PINKSHEETS: OMOG) would like to take this opportunity to update all shareholders on current proceedings.

OMDA's legal team was scheduled to depose Joe Lanza on January 7, 2008, in an action pending in Caddo Parish, Louisiana. The attorney representing Mr. Lanza in that case had withdrawn, so it was necessary to issue a subpoena to secure Lanza's appearance. At the eleventh hour, another Louisiana attorney contacted OMDA's counsel, indicated that he would be entering an appearance in that action, and requested a two week delay. Based upon the attorney's assurances that he would guarantee Lanza's appearance on the new date without the need to re-subpoena him, and recognizing that the court might very well grant a continuance if requested by Lanza's new counsel, OMDA agreed to reset the deposition. The deposition is now scheduled to proceed on January 18, 2008.

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.

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 Information