OMDA Oil and Gas, Inc. Begins Discussion on Issuance of a Special Dividend to Shareholders
November 01 2010 - 4:01PM
Marketwired
OMDA Oil and Gas, Inc. (PINKSHEETS: OOAG) announced today that the
board of directors has entered into discussions regarding the
issuance of a special dividend for its shareholders. The proposed
dividend will likely be in the form of a percentage of ownership in
one of OMDA's oil producing properties. The specific property,
dividend value, and the record date have yet to be determined. Once
the terms and structure of this proposed special dividend is set
and agreed upon, the company will release a statement outlining
this issuance.
"We have been hard at work to make OMDA a successful leader in
the oil and gas industry," stated OMDA Chairman and President Adam
Barnett. "Our board of directors realizes that in order for our
company to achieve long term growth and success we need to maintain
strong shareholder support. This special dividend issuance will be
another key step towards maintaining shareholder confidence in our
company."
About OMDA Oil and Gas, Inc.
OMDA Oil and Gas, Inc. and its wholly owned subsidiaries, OMDA
Oil & Gas Management, Inc., Texas OMDA Drilling &
Operating, Inc. and OMDA Oil & Gas, Inc. (Texas), are in the
business of oil and gas production and lease acquisition.
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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