Osage Snags 40% Increase In Mississippian Play Acreage

Acquired additional acreage in Nemaha Ridge JV targeting OK Mississippian play.

Osage Exploration and Development, Inc. (OTCBB:OEDV.OB), a domestic E&P company focused on the Horizontal Mississippian play in Oklahoma, announced that the Company's Nemaha Ridge joint venture has increased the acreage in its Horizontal Mississippian project to 28,000 net acres across 114 gross sections. Osage’s 25% Working Interest in the project gives the Company control of approximately 7,000 net acres.

“With the stellar results from our Wolf 1-29H well, which averaged 876 BOE per day in its first thirty days of production, it became vitally important for Osage to continue to expand its land position," stated Mr. Kim Bradford, Chairman and CEO of Osage Exploration, Inc.

“Based on micro-seismic studies, we believe that we will be able to drill three wells per 640-acre section in the Mississippian formation. With our expanded acreage, that translates into higher production, higher revenues, and higher reserves sequentially for a very long time into the future,” he concluded.