As of June 30, 2011 total current assets are $3,630,606 versus $421,685 a year earlier, an increase of 860%.
Total shareholders equity increased from $1,298,952 to $5,313,859 year over year, an increase of over 400%.
The foregoing increases were primarily as a result of Osage's activity in the Oklahoma horizontal Mississippian joint venture with Slawson Exploration Inc, and US Energy Development Corporation.
For the six months ended June 30, 2011, total operating revenues were $1,604,194 versus $799,111 for the six months ended June 30, 2010, an increase of 100% year over year. Comprehensive income was $2,717,488 versus a loss in 2010 of $1,429,469.
In the six months ended June 2011 net income per share was $0.06 versus a loss of $0.03 a year earlier.
The increase in operating revenue was almost exclusively generated by Osage's Colombian assets.
About Osage Exploration and Development, Inc.
Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and executive offices in Bogot�, 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
About Slawson Exploration Company, Inc.
Headquartered in Wichita, KS, with regional offices in Denver, Houston, and Oklahoma City, Slawson was founded 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
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.
Please view the complete 10-Q on EDGAR:
http://www.sec.gov/Archives/edgar/data/1405686/000149315211000245/form10q.htm
Contact:
Osage Exploration and Development, Inc.
Kim Bradford, President and CEO
Phone: 619-677-3956
Fax: 619-677-3964
kbradford@osageexploration.com
www.osageexploration.com
or
Standard & Poor's Customer Contact:
Richard Albanese, 212-438-3647
richard_albanese@sandp.com
or
Media Relations Contact:
Michael Privitera, 212-438-6679
michael_privitera@sandp.com
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Disclosure : (6 months starting May 24, 2011 thirty five hundred per month, 100,000 144 shares)