Osage Exploration and Development Spuds Fourth Horizontal Mississippian Well

Osage Exploration and Development Spuds Fourth Horizontal Mississippian Well

SAN DIEGO--(BUSINESS WIRE)-- Osage Exploration and Development, Inc.(OTCBB:OEDV), a domestic E&P company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, is pleased to announce the spudding of the McPhail #2-18H in section 18-18N-3W of Logan County, Oklahoma. This is the fourth horizontal oil well drilled in the 30,000+ acre Nemaha Ridge project by Osage in conjunction with its partners, project operator Slawson Exploration Company and US Energy Development Corporation.

Greg Franklin, Vice President of Exploration and Director, stated, "The McPhail #2-18H is located towards the middle of Osage's acreage block. We have successfully drilled two wells in the southern area of the acreage, and one in the northern area. The quality of the rock in the middle where we are drilling the McPhail well looks as promising as or better than the northern and southern areas of the acreage."

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 U.S. and Colombia. http://www.osageexploration.com

About Slawson Exploration Company, Inc.

Headquartered in Wichita, Kansas, with regional offices in Denver, Houston, and Oklahoma City, Slawson began oil and gas exploration 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. http://www.usedc.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.

Osage Exploration and Development, Inc.
Kim Bradford, President and CEO
Phone: 619-677-3956
Fax: 619-677-3964
Portage Equity Market Advisors, LLC
Jack Zedlitz, Managing Advisor

KEYWORDS: United States North America California Oklahoma


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