OOAG OMDA Oil and Gas Inc (CE)

OMDA Oil and Gas (PINKSHEETS: OOAG) would like to provide a legal update on its ongoing lawsuit, OMDA Oil & Gas, Inc., v. Joe A. Lanza, et al., in the 215th District Court, Harris County, Texas.

On August 1, 2008, the judge in this OMDA lawsuit heard arguments on the parties' competing motions for partial summary judgment on a key issue in this case regarding the ownership of oil and gas properties that are in dispute. Additional briefing from the parties was completed on August 18, 2008.

On September 2, 2008, OMDA filed OMDA Oil and Gas, Inc.'s Seventh Amended Petition in preparation for the Lanza trial, and on January 8, 2009, OMDA requested an additional hearing on the parties' competing motions for partial summary judgment at the earliest possible date. As of the date of this OMDA legal update, there has been no ruling on the competing motions for partial summary judgment; however, on December 11, 2008, the judge signed an order bifurcating the Lanza case, setting the liability issues for trial first, on May 4, 2009. The company is in the process of issuing remaining deposition notices for final preparations for this May date.

In a separate development, an attempt by investors to compel Black Dragon into bankruptcy proceedings was unsuccessful when the judge in the Western District of Louisiana dismissed the Chapter 11 filing in the case of Black Dragon Resources Companies, Inc.

Adam Barnett, Chairman of OMDA Oil and Gas stated, "We are very pleased with the outcome so far and we are looking forward to our May trial. This has been a long and tedious process and we are hoping for a successful resolution for our company and its shareholders."

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: Rich Inza 1-877-441-6632 (OMDA) ir@omogoil.com