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| August 27, 2008 Osage Exploration and Development, Inc. Announces Environmental License in Colombia | |
| SAN DIEGO--(BUSINESS WIRE)--Osage Exploration and Development, Inc. (OTCBB:OEDV), a US independent oil and gas exploration and production company focused in Colombia, is pleased to announce that the Company's Rosablanca joint venture has received notification from the Colombian Environmental Ministry that the Environmental Permit for the project has been issued. "The award of the Environmental permit paves the way for drilling the first well in our large structure at Rosablanca. The environmental application included the first three well sites, so permits are in hand to move on to Rosablanca-2 when we are ready. This exploration program complements our existing Colombian production at the Guaduas Field very well and provides us the leveraged opportunity to rapidly grow our operations, which is why we chose to focus on Colombia in the first place," stated Kim Bradford, President and CEO. "The Environmental permit has been anticipated for some time, but the activity level in Colombia since Osage has been involved there has reached boom proportions with both the Ministry of Mines and the ANH literally buried under applications. The high level of professionalism in the Colombian agencies is very evident, but patience is required when the workload is as heavy as it is now in Colombia," stated Greg Franklin, VP Exploration. About Osage Exploration and Development, Inc. Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and executive offices in Bogota, 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. Contacts Osage Exploration and Development, Inc. Kim Bradford, President and CEO, 619-677-3956 kbradford@osageexploration.com Fax: 619-677-3964 www.osageexploration.com | |
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