OMDA to Acquire Additional Interests in Louisiana & Texas

OMDA Oil and Gas is in discussions to exercise its option to acquire a greater percentage of the participation interests in those Louisiana and Texas oil and gas wells in which the Company currently has ownership. Upon exercise of the option, the Company would own in excess of 70% of the aggregate well production.

"Owning a larger percentage of the well participation interests in our existing leases is simply good business," said Adam Barnett, Chairman of the Company. "A higher percentage ownership translates directly to a higher percentage of the aggregate production revenues received by the Company."