Osage, Slawson, and USEDC Continue to Expand Horizontal Mississippian Project
14 Juillet 2011 - 3:00PM
Marketwired
Osage Exploration and Development, Inc. (OTCBB: OEDV) along with
its partners, Slawson Exploration Company, Inc. and U.S. Energy
Development Corporation are pleased to announce that their Nemaha
Ridge Mississippian prospect has now reached 12,000 net mineral
acres, an increase from 10,000 net acres announced in late May
2011.
"The growth of the horizontal Mississippian play in Oklahoma is
accelerating at an amazing rate. Devon Energy is the latest major
Oklahoma oil company to announce the acquisition of a significant
land position prospective for the Mississippian and the Woodford
Shale. With SandRidge Energy, Inc., Chesapeake Energy Corporation,
and Range Resources already extensively involved in the horizontal
Mississippian, it is beginning to look unanimous. The finest oil
companies in Oklahoma have all chosen to participate in what
appears to be one of the most economic onshore oil plays that we
have seen in decades. At Osage, we feel that our scientific work
has been substantially validated simply by the presence of these
industry leaders in our focus play," stated Kim Bradford, President
and CEO.
"With over 200 successful horizontal Mississippian wells already
drilled in Oklahoma, the focus in this play is going to rapidly
shift to execution and cost control. In that regard, with Slawson
Exploration and U.S. Energy Development Corp., we have two of the
very best in our corner. We are confident that the Nemaha Ridge
will be a highly productive area and that we can efficiently
extract the minerals, given our operating partner's horizontal
success in the Bakken and other basins," stated Greg Franklin, VP
Exploration.
We have posted an investor presentation on our website
concurrent with this news release. Please click on the link below
to view the presentation:
http://www.osageexploration.com
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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