OMDA Oil and Gas, Inc. Moves Corporate Headquarters to Houston TX and Gives Further Update on Panola Prospect

Thursday November 11, 4:43 pm ET

HOUSTON--(BUSINESS WIRE)--Nov. 11, 2004--OMDA Oil and Gas, Inc., an oil and gas production company (OTC.PK:OMOG), through its chairman, Adam Barnett, today announced the move of its Corporate Headquarters, along with its Operating Subsidiary, OMDA Oil & Gas Management, to 4550 Post Oak Place Dr. #175 Houston TX, the current location of its Texas OMDA Drilling & Operating Inc. subsidiary. Management feels that with its concentration on drilling and production in Texas and Western Louisiana, relocating all of its operations to Houston makes logical sense. Additionally, as a follow-up to the announcement the company made on November 4th regarding the Panola County, Fredricksberg lime prospect, as anticipated in that release, the company did receive lease abstracts and title opinion covering the property this past week. Closing documents are being prepared with closing anticipated next week to ten days.
Adam Barnett, Chairman, stated, "We are now in the fourteenth month since I have taken control of the company. With the move to Houston, we feel we will be in an excellent position to capitalize on local Oil and Gas expertise as we grow the company." Barnett went on to say, "While specific timing of the commencement of drilling the first well is difficult to predict at this time, our operator, S&H feels we have a reasonable chance to start drilling mid to late December, something that we are all eagerly awaiting."

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. and its wholly owned subsidiaries, OMDA Oil & Gas Management, Inc. and Texas OMDA Drilling & Operating, Inc., 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.

Contact:      
OMDA Oil and Gas, Inc.
Adam Barnett, 305-609-2345
omoilandgas@aol.com
www.omogoil.com