Point Roberts, WA - October 19, 2011 - Investorideas.com, a leader in sector research including oil and gas stocks releases the following interview excerpt with Kim Bradford, President and CEO of Osage Exploration and Development, Inc. (OTCBB: OEDV) discussing the Oklahoma horizontal Mississippian play and some of the larger public companies in the play.
The Mississippian formation play is heating up in terms of new entrants. Recently PetroQuest Energy (NYSE:PQ) announced they had closed its Mississippian Lime acquisition of 28,250 acres for an adjusted purchase price of $24,100,000. Can you share with investors what you are seeing in terms of growing interest from the majors and why?
A: Kim Bradford, President and CEO of Osage Exploration and Development, Inc.
All of the major Oklahoma based publicly traded oil and gas exploration companies have been involved in developing horizontal Mississippian projects. SandRidge Energy (NYSE: SD), Chesapeake Energy Corporation (NYSE: CHK), Devon Energy Corporation (NYSE: DVN), Range Resources (NYSE: RRC), Continental Resources (NYSE: CLR) as well as many privately owned Oklahoma based companies are involved in the play. PetroQuest (NYSE:PQ) joins the growing list of non-Oklahoma based companies acquiring horizontal Mississippian projects. What I believe we are seeing is a similar sort of phenomenon like we have witnessed in the Marcellus shale play, the Haynesville shale play, and others which is that companies feel that they have to be exposed to this play. Strategically, the bigger oil companies cannot afford to miss a domestic opportunity with great economics, unless it is truly is outside their area of focus or expertise. It is fair to say that almost every significant oil company in America has access and expertise in the Mid-Continent, so we are seeing a groundswell in the number of companies endorsing the horizontal Mississippian in Oklahoma.
To read the full interview follows this link:
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 US and Colombia. www.osageexploration.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
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