OMDA Oil and Gas, Inc. Board of Directors Begins Discussion on Issuance of a Proposed Special Dividend to Shareholders

   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) [e-mail] www.omogoil.com