Land Acquisition in Nemaha Ridge Mississippian Project Now in Excess of 11,000 Net Mineral Acres Reports Osage and Partners, Sla
20 Junio 2011 - 10:00AM
Marketwired
Osage Exploration and Development, Inc. (OTCBB: OEDV), an
independent exploration and production company, reports it
continues to expand the Nemaha Ridge Mississippian prospect and has
reached 11,000 net mineral acres across 40 sections in Logan
County, Oklahoma. Partners in the project include Slawson
Exploration Company as the Operator of the project, owning 45%, US
Energy Development Corporation with 30%, and Osage Exploration has
25%.
"As we move forward in developing this project, we remain
committed to expanding our footprint. While our Colombian assets
continue to perform well, it is fair to say that we are very
focused on building our Oklahoma exposure for the immediate
future.
"It is a rare opportunity that we have with this Mississippian
project. It is a tremendously economic target in its own right, and
additionally this area has multiple formations that have
historically produced oil and gas such as the Cherokee sands,
Layton, Cleveland, Hunton Lime, Viola, Woodford Shale, and Oswego.
It is anticipated that many of these formations may be found
productive over the prospect acreage as development and analysis
progresses," stated Kim Bradford, Chairman and CEO.
"We absolutely believe that we have years of drilling ahead of
us because of the stacked-payzones, and our continually expanding
acreage. We have acquired excellent leasehold interest and have
joined forces with two of the most established, long-term
successful drillers in the country. That is a formula for success,
and we are genuinely excited about the near term prospects for our
company," stated Greg Franklin, VP Exploration.
For a visual depiction of the horizontal drilling technique that
will be utilized in the Nemaha Ridge project, click on the video
link below:
http://www.osageexploration.com/video/index.htm
About Osage Exploration and Development,
Inc.
Based in San Diego, California with production offices in
Oklahoma City, Oklahoma, and executive offices in Bogotá, Colombia,
Osage Exploration and Development, Inc. is an independent
exploration and production company with interests in oil and gas
wells and prospects in the US and Colombia.
www.osageexploration.com
About Slawson Exploration Company,
Inc.
Headquartered in Wichita, KS, with regional offices in Denver,
Houston, and Oklahoma City, Slawson was founded in 1957.
http://www.slawsoncompanies.com/exploration.html
About U.S. Energy Development
Corporation
U.S. Energy Development Corporation was formed in 1980 as a
successor to Oilmark & Company, Inc., founded in 1978. The
company has consistently been ranked among the Top 50 Independent
Oil & Natural Gas Drillers in the United States and is one of
the largest drillers in both New York and Pennsylvania. Since 1980,
U.S. Energy has acted as operator with respect to the drilling of
more than 2,500 wells. www.usenergydevcorp.com
Safe Harbor Statement
The information in this release includes certain forward-looking
statements as defined by the Securities and Exchange Commission
that are based on assumptions that in the future may prove not to
have been accurate. Those statements and Osage Exploration and
Development, Inc. are subject to a number of risks, including
production variances from expectations, volatility of product
prices, inability to raise sufficient capital to fund its
operations, environmental risks, competition, government
regulation, and the ability of the Company to execute its business
strategy, among others.
Contact Osage Exploration and Development, Inc. Kim Bradford
President and CEO Phone: 619-677-3956 Fax: 619-677-3964
kbradford@osageexploration.com www.osageexploration.com
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