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  • Oil and Gas Investor Alert: Osage (OTCBB: OEDV) and PetroQuest (NYSE:PQ) Announce Mississippian Formation Acreage Acquisitions  0 comments
    Sep 16, 2011 9:17 AM | about stocks: PQ, OEDV
     Oil and Gas Investor Alert: Osage (OTCBB: OEDV) and PetroQuest (NYSE:PQ) Announce Mississippian Formation Acreage Acquisitions
     
    Point Roberts, WA. Sept16 , 2011 (Investorideas.com Energy Newswire) - www.InvestorIdeas.com, a leader in sector research including oil and gas stocks reports on recent news and developments in the Mississippian Formation play.
     
    Earlier this week Osage Exploration and Development, Inc. (OTCBB: OEDV) reported, along with its partners Slawson Exploration Company and U.S. Energy Development Corporation, had increased the net land position to 15,000 acres in the highly prospective area east of the Nemaha Ridge in the Oklahoma horizontal Mississippian play.
     
    Slawson Exploration Company is the Operator of the project and owns 45%, U.S. Energy Development Corporation owns 30%, and Osage Exploration has 25%.
     
    On Tuesday, PetroQuest Energy, Inc. (NYSE:PQ) announced it had closed its Mississippian Lime acquisition of 28,250 acres for an adjusted purchase price of $24,100,000. The acreage is located in Pawnee County, Oklahoma and has approximately 50 Boe/d of production and five saltwater disposal wells. Approximately 4,500 of the 28,250 acres are held by production with the remaining acreage subject to multi-year leases. 
     
    Subsequent to the closing of this acquisition, the Company sold a 50% working interest in the Pawnee County acreage for approximately $14,500,000. After completing this acquisition and subsequent sell-down, the Company has approximately 24,000 net acres in Pawnee, Grant and Kay Counties in Oklahoma and Sumner County, Kansas and expects to spud its first well targeting the Mississippian Lime near the end of the year. 
     
    For a visual depiction of the horizontal drilling technique that OEDV will be utilizing in the Nemaha Ridge project, click on the video link below:
     
    Research more oil and gas stocks with the oil and gas stock directory at Investorideas.com http://www.investorideas.com/OGSN/Stock_List.asp
     
    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
     
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    Osage Exploration and Development, Inc. (OTCQB:OEDV) is a showcase oil and gas stock on Investorideas.com
     
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    Disclosure: OEDV is a paid advertising oil and gas company on Investorideas.com - Disclosure: (6 months starting May 24, 2011 thirty five hundred per month, 100,000 144 shares)
    BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894
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    Themes: oil and gas stocks Stocks: PQ, OEDV
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