OOAG OMDA Oil and Gas Inc (CE)

Over the last few weeks, OMDA has released various press releases outlining future plans and endeavors. In response to these releases, some shareholders have raised specific questions via e-mail and phone calls to our investor relations department.

First, many e-mails and phone calls have been received asking if OMDA was planning a reverse stock split. Some have misunderstood OMDA's possible future name change and its desire to explore ways to lower the authorized share count as veiled attempts to hint at a future reverse stock split. Management wishes to clarify this point and announce that there are no plans or desires to undertake such a stock split. Any name change would be solely for the purpose of establishing a more accurate corporate identity to better reflect possible future business ventures. Further, OMDA's desire to explore ways to lower the authorized share count is strictly for matters of corporate governance and not in any way related to the reduction of outstanding shares that typically occurs in a reverse split.

Second, some shareholders have expressed trepidation over the company's efforts and the potential outcome in the lawsuit against Lanza et al. As a result of this legal action, OMDA has spent significant capital in legal fees and costs associated with the lawsuit and invested countless work hours with the company's attorneys and legal advisors. While no one can guarantee an outcome in any legal proceeding, the company is confident it has and will continue to proceed with every measure within its capabilities to resolve this matter fairly, expeditiously, and successfully for its shareholders.

Finally, a significant amount of questions have been related to the financing of OMDA's evolving business plan. The company has, out of necessity, financed past operations from equity transactions; however, management is currently exploring potential financing commitments from a group of investors that will be primarily debt oriented. Management feels the conclusion of the Lanza et al. case, future revenues from Concorde Dome, rising shareholder value, and the possibility of current joint ventures will allow the company to totally eliminate funding that relies exclusively on equity transactions.

"I hope this release has resolved some issues voiced by our shareholders," stated Adam Barnett, Chairman of OMDA. "Accurate communication with our shareholders is one of my top priorities. In the past, I participated in a series of newsletters that dealt with everyday investor concerns, and I am considering reinstating this form of communication. In the meantime, I encourage everyone to keep sending their e-mails to ir@omogoil.com."

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: OMDA Oil and Gas, Inc. Investor Relations 877-441-OMDA(6632) IR@omogoil.com www.omogoil.com

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