OMDA Oil and Gas, Inc. Repurchases Shares Thursday November 6, 10:33 am ET Repurchase decreases outstanding shares and improves stockholder value

OMDA Oil and Gas, Inc. Repurchases Shares Thursday November 6, 10:33 am ET Repurchase decreases outstanding shares and improves stockholder value

OIL CITY, La. (PRWEB) November 8, 2003 -- OMDA Oil and Gas, Inc., an oil and gas production company (OTC.PK:OMOG), announced today that it has entered into an agreement with the Company's majority stockholder to repurchase up to ten million shares of the Company's common stock on terms that are very favorable to the Company. The buy-back represents approximately 1% of the outstanding shares of the Company and is one additional step in the Company's extensive restructuring efforts. The repurchase reduces the outstanding number of shares of common stock to approximately 989,952,715 thereby effectively increasing the percentage ownership of all remaining stockholders.

"The repurchase is one more way that the Company is attempting to maximize the value to the Company's public stockholders," said Mark Barnes, Treasurer of the Company.

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. Of the Company's 35 leases, 16 currently have at least one producing well with an aggregate of over 100 currently producing wells.

8306 Mills Drive
P.O. Box 674
Miami, Florida 33183-4838
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Contact:
     OMDA Oil and Gas, Inc.
     Adam Barnett, 305-992-0151
     omoilandgas@aol.com
     www.omogoil.com

Source: OMDA Oil and Gas, Inc.

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