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Osage Releases Initial Production Rate from Mississippian Well

Source: www.gulfoilandgas.com 5/7/2013, Location: North America

Osage Exploration and Development, Inc., an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today preliminary production results on the Blevins 1-7H Horizontal Mississippian well in Logan County, Oklahoma. The Blevins 1-7H, located in Section 7-17N-3W and operated by Stephens Production Company, achieved one-day peak production of 557 BOE on a gas lift and has averaged 466 BOE in the seven days since that peak.

Management Comments
"The Blevins 1-7H is further indicative that the decision to look to Logan County as the cornerstone of our Horizontal Mississippian and Woodford exploration was the correct one," stated Mr. Kim Bradford, Chairman and CEO of Osage Exploration and Development. "We have been able to replicate the results generated with our project operator Slawson Exploration Company, Inc. and also with other top quality oil companies that we participate with, such as Devon Energy Corporation and Stephens Production Company. While this is somewhat at odds with the conventional wisdom regarding the high variability of results to be expected in the Miss Lime, we are seeing a growing consistency across not only our entire area but also across operating teams and methods. This boosts our confidence even more."

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