OMOG Website News: omogoil.com
OMDA Oil & Gas - parties to lawsuit attend mediation meeting
As previously announced, OMDA Oil & Gas, Inc. has been involved in an ongoing
lawsuit against former management. The original suit, filed March 29th 2005 ,
sought the return of significant assets including numerous producing and
non-producing wells, as well as actual monetary damages.
Adam Barnett and legal counsel from the firm Zimmerman, Axelrad, Meyer, Stern &
Wise attended a mediation hearing yesterday, March 14th. This mediation was an
attempt to settle the above referenced lawsuit before the trial date next month.
Adam Barnett, Chairman, stated, “ I could not be more pleased that this lawsuit is
now reaching the settlement stage. I was very happy with the mediation yesterday
and the fine job that our legal counsel did in representing us throughout the
proceeding.” Barnett went on to say, “ While I can not comment on the fine points
concerning the events yesterday, I feel confident that the shareholders of OMDA Oil
& Gas, Inc. will be very pleased with the outcome. I hope to have all finalized paperwork
resulting from the mediation soon, and I look very forward to announcing
all details in a formal press release in the weeks to come.”
. |
