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| December 30, 2008 Osage Makes Casing Election on Rosablanca-1 Well | |
| San Diego, California, December 30, 2008 -- Osage Exploration and Development, Inc. (OTCBB: OEDV), in conjunction with its partners Gold Oil, plc, Lewis Energy Colombia, and EMPESA, SA has elected to case the Rosablanca-1 well. This decision was entered into after evaluation of the electric logs and sidewall cores taken from the well bore. "The Rosablanca section was thicker than we had anticipated and we encountered 30 feet of the lower Tambor sand with good shows." stated Greg Franklin, VP Exploration, "We will perforate and test four different zones, and remain very excited about the prospectivity of this well and this project," he added. "After drilling the Rosablanca-1, then taking logs and core samples, it is apparent that casing the well is in the best interest of the joint venture," stated Kim Bradford, Chairman and CEO, "we are pleased and encouraged by the preliminary information." 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 About Gold Oil, plc Gold Oil, plc is a publicly traded company listed on the Alternative Investment Market (AIM) operated by the London Stock Exchange. Gold Oil is an oil and gas exploration and exploitation company focused on Central and Southern America. Gold Oil has exploration efforts ongoing in Peru, Brazil, and Colombia. www.goldoilplc.com About Lewis Energy Colombia Lewis Energy Colombia is a Colombian subsidiary of a closely held US company that is engaged in oil and gas exploration, development, production, pipeline, drilling and production services in Texas and Latin America. About EMPESA, SA Compania Petrolera de Servicios y Acesorias S.A. (EMPESA) is a multi-disciplinary group of professionals with wide experience in the petroleum industry in Colombia. EMPESA executes well design, well planning, drill programs, and engineering/geosciences studies for customers in Colombia such as Occidental Colombia, Lukoil, Gulfsands, and Ecopetrol. www.empesa.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. For more information, please contact: Kim Bradford, President and CEO Osage Exploration and Development, Inc. kbradford@osageexploration.com Phone: 619-677-3956 Fax: 619-677-3964 www.osageexploration.com | |
You can view the Next Press Releases item: Thu Jan 29, 2009, Osage Announces Suspension of Testing on Rosablanca-1 Well You can view the Previous Press Releases item: Mon Dec 8, 2008, Osage Drills Exploration Well on 165 Square Mile Colombian Prospect You can return to the main Press Releases page, or press the Back button on your browser. |
