Osage Exploration and Development, Inc. Announces Major Colombian Acquisition.LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif. -- Osage Exploration and Development, Inc. (Pink Sheets:OEDV) is pleased to announce a major Colombian acquisition in partnership with Gold Oil Plc (LSE LSE - Language Sensitive Editor :GOO) and Empesa, a private Colombian petroleum consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a in the prolific Middle Magdalena Basin. Osage has farmed-in to a 50% interest in the approximately 165 square mile Rosablanca concession awarded by the Agencia Nacional de Hidrocarburos (ANH ANH Anhang (German: Appendix; used in designating Beethoven's music) ANH A New Hope ANH A New Hope (aka Star Wars Episode 4) ANH Alliance for Natural Health ) to Gold Oil, plc in June, 2007. Osage will pay all costs associated with drilling the first well on the Rosablanca project to earn its interest. Gold Oil will retain a 40% share, and Empesa will remain as a 10% participant. "This announcement is the culmination of months of planning and geological evaluation designed to transition Osage into a Colombian exploration and development play. In cooperation with our highly competent and experienced partners Gold Oil and Empesa, Osage has established a large exploration footprint with multiple identified targets in one of the most productive onshore basins in Colombia. The directors, consultants, and legal team at Osage have worked tirelessly in pursuit of this acquisition to build value for our shareholders. We are especially grateful for the leadership of Managing Director Gary Moore For the former TV host, see . Gary Moore (born Robert William Gary Moore, 4 April 1952, in Belfast, Northern Ireland) is a Northern Irish guitarist. In a career dating back to the 1960s he has played with bands/artists including Thin Lizzy, Colosseum II, Greg Lake and of Gold Oil in finalizing this transaction with us," stated Kim Bradford, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our corporate vision for Osage involves large targets in highly prospective areas in Colombia, and the acquisition of the Rosablanca certainly fulfills this mandate. We will continue to evaluate Colombian opportunities seeking additional high quality projects to complement the Rosablanca," stated Greg Franklin, Director. About Osage Exploration and Development, Inc. Based in La Jolla, California with production offices in Oklahoma City, Oklahoma “OKC” redirects here. For the airport, see Will Rogers World Airport. Oklahoma City is the capital of the U.S. state of Oklahoma. The county seat of Oklahoma County, the city is the 30th largest city in the U.S. , 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.osageenergyinc.com About Gold Oil, plc Gold Oil, plc is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. listed on the Alternative Investment Market (AIM) operated by the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . 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 Empesa 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, and drill programs for customers in Colombia such as Occidental Colombia, Lukoil, Gulfsands, and Ecopetrol. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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. |
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