Osage Exploration and Development Releases Initial Production Rate of 623 BOE from Horizontal Mississippian Well Business Wire SAN DIEGO -- January 22, 2013 Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today preliminary production results on its Horizontal Mississippian well in Logan County, Oklahoma. The Krittenbrink 1-1H, located in Section 1-18N-4W, had its first oil sale on December 30th and within two weeks achieved one-day production of 623 BOE. It has produced 6,740 BOE to date. Total volumes of hydrocarbons produced have been composed of over 90% crude oil. Management Comments “We are very pleased with the initial production of the Krittenbrink 1-1H and with the early results of our accelerated drilling program,” stated Mr. Kim Bradford, Chairman and CEO of Osage Exploration and Development. “With the Krittenbrink 1-1H we have now gotten the time from spud to first sales down to about 70 days. Coupled with the high initial production rates that we are experiencing, the economics of this program are outstanding. The success of the Krittenbrink 1-1H is a reminder of the potential of our Nemaha Ridge project. Along with our partners US Energy Development Corporation and project operator Slawson Exploration Company, we intend to drill over twenty wells this year in Logan County with the objective of amassing a portfolio of repeatable, highly economic oil wells.” 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. Contact: Osage Exploration and Development, Inc. Kim Bradford, President and CEO Phone: 619-677-3956 firstname.lastname@example.org or Jack Zedlitz, VP of Corporate Development Phone: 405-270-0989 email@example.com http://www.osageexploration.com
Osage Exploration and Development Releases Initial Production Rate of 623 BOE from Horizontal Mississippian Well
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