Oil and Gas Stock Trading Alert; Osage (OTCBB: OEDV) Trades up On News of Joint Venture; Closes up 38.89%
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Oil and Gas Stock Trading Alert; Osage (OTCBB: OEDV) Trades up
On News of Joint Venture; Closes up 38.89%
Point Roberts, WA. May 26, 2011 (Investorideas.com Energy Newswire) - www.InvestorIdeas.com, a leader in sector research including oil and gas stocks, releases a trading alert and stock chart for showcase energy company, Osage Exploration and Development, Inc. (OTCBB: OEDV). The stock closed at $0.25, up 0.07 (38.89%) with a high of $0.34 during the day on volume of 676,229.
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Company News:
Osage (OTCBB: OEDV) Joint Ventures Its 10,000 Acre Horizontal Mississippian Nemaha Ridge Project
SAN DIEGO - May 26, 2011 (Investorideas.com energy stocks newswire) - Osage Exploration and Development, Inc. (OTCBB: OEDV) is pleased to announce that it has closed an agreement whereby Slawson Exploration Company, Inc. and U.S. Energy Development Corporation have acquired 45% and 30% respectively of Osage’s Nemaha Ridge project in Oklahoma for gross consideration of $4,875,000.00 plus a 10% net carry on the first three horizontal Mississippian wells.
"We are very proud to have attracted such high quality partners for our horizontal Mississippian project. Not only do we have great financial partners, Slawson, as our Operator brings a wealth of horizontal drilling expertise having drilled over 150 Horizontal Bakken wells. I believe that the quality of our partners speaks to the quality of our project," stated Greg Franklin, Osage’s VP Exploration.
About Osage Exploration and Development, Inc. (OTCBB: OEDV)
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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