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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Paul Senior who wrote (161660)12/23/2011 5:43:07 PM
From: Ed Ajootian1 Recommendation  Read Replies (2) of 206203
 
Paul, Osage Exploration (OEDV.OB) -- this company is nearly a "pure play" in the Mississippian. They have partnered with one of the premier horizontal drillers around, Slawson Exploration (a private company) and have about 5,000 net acres in the play. They're about 2-4 weeks from getting to TD on their first well there and I believe they've gotten a 2nd rig going now also, which is drilling a water disposal well at this point.

All of the other US-traded public companies in the play have significant "baggage", i.e. other production and projects, some of which are gas-centric, which will serve to dilute whatever contribution they might get from their Miss. acreage. Osage has some legacy production and a small interest in a pipeline in Colombia but at this point their assets there are mature and are just throwing off a little cash flow right now. 100% of their cap ex is going to go into drilling out their Miss. acreage.
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