Dallas, Texas — September 10, 2026 — MDM Permian, Inc. (OTC PINK: MDMP) is providing shareholders with additional information regarding litigation filed against the Company in October 2022. This litigation has significantly affected the Company’s operations, financial resources, and public communications.
MDM Permian and its wholly owned subsidiary, MDM Energy, along with FireDream Resources, LLC, Mark Warner, Michael Rafael and other parties are being sued by Larry Bramlet. Mr. Bramlet is also the trustee of The Bramlet Family Trust, an MDM Permian shareholder. Mr. Bramlet is not suing over the Trust’s ownership of MDMP shares. Rather, the claims arise from a separate oil and gas investment that Mr. Bramlet testified under oath was made in Hi-Land Resources Group, LLC. Mr. Bramlet is represented by lead counsel Darrell D. Minter of Ferguson Braswell Fraser Kubasta PC (FBFK Law) in Plano, Texas.
This litigation is not new; it has been pending since 2022 and has been previously disclosed in MDM Permian’s financial reports and disclosures.
Shareholders have recently inquired about the decline in MDMP’s stock price, the significant curtailment of the Company's oil and gas operations, the limited issuance of press releases, and the activities of management. Management believes shareholders are entitled to a more complete explanation.
THE LITIGATION AND THE SWORN TESTIMONY – The underlying transaction and the lawsuit both predate Mark Warner’s role in MDM Permian management. Michael Rafael was President and CEO when the underlying transaction occurred and when the lawsuit was filed; Mr. Warner was associated with FireDream Resources but was not part of MDM Permian management. Mr. Rafael resigned in March 2023, leaving the current management team to inherit the pending litigation.
MDM Permian, MDM Energy, FireDream Resources, and Mark Warner strongly dispute the claims against them. Sworn deposition testimony in the case provides important context.
Mr. Bramlet testified that his $487,500 investment was made in Hi-Land Resources Group, LLC and that he gave the investment to Hi-Land. In his sworn testimony, Mr. Bramlet stated that he did not personally deliver investment funds to Mark Warner or FireDream Resources and did not remember writing checks to MDM Permian or MDM Energy.
Mr. Bramlet further testified that Mark Warner did not personally ask him to invest in Hi-Land and was not present at the meeting where the investment was presented. Bramlet identified the participants as himself, Robert Luna, Kelly Buster, and Charles “Skip” Shaw, and testified that Luna and Buster were presented as the principals of Hi-Land.
Hi-Land principal Robert Luna testified that Hi-Land initially had the cash necessary to complete a $257,500 transaction but did not do so because, in his words, “Kelly started draining the bank account without my knowledge.” Luna testified that he had not authorized Buster to take the money. When counsel asked, “So he was stealing it, wasn’t he?” Luna answered, “Yes.”
Luna also acknowledged receiving approximately $63,174 from Hi-Land and testified that the majority of those funds would have come from Bramlet’s investment. Luna further testified that Hi-Land paid Charles “Skip” Shaw in connection with Shaw’s introduction of Robert Luna to Mark Warner and his role in bringing the underlying transaction to Hi-Land.
These are statements contained in sworn deposition testimony—not MDM Permian’s characterization of what occurred. Despite that testimony, Mr. Bramlet continues, through counsel, to pursue claims against MDM Permian, MDM Energy, FireDream Resources, and Mark Warner. Copies of the referenced deposition transcripts are available from MDM Permian upon request at info@mdmpermian.com.
THE IMPACT ON MDM PERMIAN AND ITS SHAREHOLDERS – Defending this litigation has consumed substantial financial resources that otherwise could have been used for oil and gas operations, acquisitions, development, employees, and growth. The pending litigation has also directly affected the Company’s ability to raise capital. In two separate financing opportunities, prospective investors declined to invest because of the pending litigation, preventing the Company from obtaining capital that management had sought to advance its oil and gas operations.
As the financial burden increased, MDM Permian reduced expenditures, laid off employees, and significantly curtailed its oil and gas operations.
Members of current management have continued working without compensation in an effort to preserve the Company. CEO Mark Warner has gone more than 18 months without receiving a paycheck from MDM Permian.
During this same period, MDMP shareholders have experienced a substantial decline in the market value of their shares. Management does not suggest that litigation is the only factor affecting the market price of a publicly traded security, but the substantial financial and operational burden imposed by this litigation cannot reasonably be ignored. The consequences have been borne by the Company and its shareholders.
WHY MDM PERMIAN HAS BEEN SO QUIET – The litigation is also a significant reason for the Company’s limited public communications. MDM Permian has become increasingly hesitant to issue press releases because its public statements have been raised and used against the Company and management in the litigation.
If MDM Permian remains silent, shareholders understandably wonder why the Company is not communicating and may conclude that nothing is being done. If MDM Permian communicates publicly, those communications may become additional material used against the Company in the lawsuit.
Management has therefore exercised considerable caution. That caution should not be mistaken for inactivity. The decisions to reduce expenses, lay off employees, significantly curtail oil and gas operations, forgo management compensation, and limit public communications were made in an effort to preserve the Company.
MDM PERMIAN’S CURRENT FOCUS – MDM Permian strongly disputes the claims against the Company and will continue to defend its interests. Since assuming responsibility for MDM Permian, current management has been required to address this pre-existing litigation and its continuing financial and operational impact on the Company.
Management remains focused on evaluating the Company’s circumstances, preserving its available resources, and determining the appropriate path for MDM Permian. No particular outcome can be assured.
Management also believes shareholders are entitled to understand the significant matters affecting their Company, including the identity of the parties pursuing this litigation and what the sworn testimony in the case actually says.
To the shareholders who have continued to support MDM Permian through this difficult period, management sincerely appreciates your patience and support.
About MDM Permian, Inc. MDM Permian, Inc. is a publicly traded oil and gas company whose business has included the acquisition, development, reworking, and operation of oil and gas properties.
Forward-Looking Statements – This press release contains or may contain forward-looking statements regarding the Company’s plans, operations, litigation, financial condition, ability to expand or increase its oil and gas activities, and future business activities. Forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. No assurance can be given regarding the Company’s future operations, financial condition, ability to expand or increase its oil and gas activities, or the outcome of the pending litigation. Readers should not place undue reliance on forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update such statements except as required by applicable law.