OMDA Oil and Gas, Inc. Announces Future Plans and Updates

OMDA Oil and Gas, Inc. (PINKSHEETS: OOAG) provided an update on its current operations and future plans.

The press release is quoted as saying:

OMDA Oil and Gas, Inc. currently owns an outright 20% working interest in 150 producing wells in Caddo Parrish, Louisiana. The company has divested itself of the other wells it had previously owned that were not producing or that were not considered to be an asset to the company. The amount of revenue collected from these producing wells will be announced in future updates. As the price of oil increases, or as the overall production from the wells grows, the company may look to sell some or all of these interests to a qualified buyer for cash. The company would then look to reinvest that money into other lucrative oil production plays outside of the state of Louisiana, preferably closer to OMDA headquarters in the state of Texas. In the meantime with these 150 producing wells the company will support its growth and possibly take the opportunity to acquire more in the area once they are producing and verified. The company will be providing pictures and video of these wells on its website as soon as possible.

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Click here to access OMDA Oil and Gas, Inc. Corporate Site