SOURCE: OMDA Oil and Gas, Inc.

July 06, 2006 11:50 ET

OMDA Oil and Gas, Inc. Announces Chairman Adam Barnett's Recent Stock Purchases

HOUSTON, TX -- (MARKET WIRE) -- July 6, 2006 -- OMDA Oil and Gas, Inc. (PINKSHEETS: OMOG) announced today that its Chairman Adam Barnett has recently purchased the company's common shares in the open market.

Mr. Barnett has purchased over ten million shares of OMOG since Wednesday June 28th 2006. These shares were bought for personal investment purposes.

Adam Barnett, Chairman, stated, "I am releasing this announcement in an effort to be as open with the shareholders as possible. I bought these shares as a personal investment in our company because I am excited about the future both short-term and long-term. As I accumulate additional shares, I will inform the public either through additional press releases or company newsletters."

About OMDA Oil and Gas, Inc.

OMDA Oil and Gas, Inc. and its wholly owned subsidiaries, OMDA Oil & Gas Management, Inc., 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, as well as 100% gross interest in an undeveloped 1,116 acre, horizontal play in the Panola Field, Panola County, 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.

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