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OMDA Oil and Gas, Inc. Announces Participation in 3 Well Drilling Project

Posted on: Wednesday, 15 February 2006, 15:00 CST

OMDA Oil and Gas, Inc. (OTC: OMOG), is pleased to announce it has entered into final negotiations with KY-Tenn Oil Inc. (KTO) to participate in a three well drilling program.

KTO has proposed drilling three 2100 ft. wells to test the Chattanooga shale formation. This active field has other potential formations producing in the Monteagle and Fort Payne zones. Upon completing the drilling and the logging of the wells, the primary target will be the Chattanooga Shale. The proposed completion of the shale will include a "sand frac" of the formation. KTO has had good results with this type of "frac" with the Chattanooga shale in an offset well. The geology of the area indicates the shale should be encountered in all three wells.

Concerning the sale of oil and gas, there are companies in place and available to purchase the hydrocarbons. Somerset Refineries is looking to purchase the oil and Citizens Gas Utility District has the gas gathering system in place to purchase the natural gas.

Adam Barnett, Chairman, stated, "OMDA Oil and Gas is extremely excited about this project and we look forward to establishing a long-term relationship with KY-Tenn Oil Inc. Based on KTO's recent 'frac' experience, we have high hopes that these three wells will prove equally successful. With KTO's vast land area of over 41,000 acres, OMDA is eager to explore future working and drilling projects with KTO in Morgan, Scott, and Fentress counties that may prove beneficial to our company." Barnett went on to say, "I look forward to sharing more details about this and recent developments on the Young Oil project in the near future."

More information on both OMDA's Oil and Gas projects and legal actions can be found at the Company's website, http://www.omogoil.com

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. and OMDA Oil & Gas, Inc. (Texas) 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, as well as 100% gross interest in an undeveloped 1,116 acre, horizontal play in the Panola Field, Panola County, Texas. Current acreage interests include a 15% working interest in 800 acres in Shelby County, TX and a Carried back-in working interest of at least 7.5% up to 37.5% in a 12 well work over play in the Concorde Dome Field in Andersen County TX, and is currently partnered up with Young Oil Corp, the largest Oil and Gas producer in Tennessee on 46,000 acres in North Central Tennessee, with an initial 20% interest in a six well program and a first right of refusal on any other prospects on the Young leases.

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 800-621-0113 IR@omogoil.comwww.omogoil.com

SOURCE: OMDA Oil and Gas Inc.

Source: MARKET WIRE

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