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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Taki who wrote (128918)	2/24/2004 7:49:53 PM
From: Due Diligence	Respond to of 150070

Pump and Dump?

To: Taki who wrote (128918)	2/25/2004 8:46:30 AM
From: Taki	Respond to of 150070

OMOG.0023,alert.Repurchase and retirement of 200,000,000 shares of common stock is latest step in restructuring MIAMI, Feb. 25 /PRNewswire-FirstCall/ -- OMDA Oil and Gas, Inc., an oil and gas production company (OTC: OMOG - News), announced today that it has completed the repurchase and retirement of 200,000,000 shares of its common stock. The repurchase and retirement of the common stock to the Company's treasury is the latest step in the efforts of the Company to restructure its operations and finances. To accomplish the repurchase, the Company has entered into an agreement with the Company's majority stockholder to repurchase the common stock on terms that are highly favorable to the Company. The shares repurchased and retired represent approximately 20% of the outstanding shares of the Company. Because the Company has not issued any shares since the third quarter of 2003, the repurchase and retirement reduces the outstanding number of shares of common stock to approximately 799,952,715 shares. In November 2003, the Company had announced its intention to repurchase up to 10 million shares of its common stock; however, due to market factors, it was in the best interest of the Company and its stockholders to defer the transaction. "The recently completed stock repurchase was a much better deal for the Company and its stockholders than the originally planned repurchase," said Mark Barnes, Treasurer of the Company. "We are confident that our stockholders will view this repurchase and retirement of a significant portion of the Company's outstanding capital stock as one more positive step in our comprehensive restructuring plan." The Company is continuing to move forward with other aspects of its restructuring plan. Important new developments will be reported to our stockholders via updates to our web site at www.omogoil.com and through future press releases. For more information regarding the current outstanding shares of capital stock of the Company, please contact the Company's stock transfer agent, Signature Stock Transfer, Inc. at 972.612.4120. 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, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. 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. About OMDA Oil and Gas, Inc. OMDA Oil and Gas, Inc. is an oil and gas production and lease acquisition company. Currently the Company owns participation interests in 355 oil and gas wells in Louisiana and Texas. For more information, please contact: Adam Barnett, Chairman 8306 Mills Drive P.O. Box 674 Miami, Florida 33183-4838 Tel.: 305-992-0151 Email: omoilandgas@aol.com Web site: www.omogoil.com