OEDV good News-from the 8K that Osage filed on Friday, Osage sold Colombia for about $6.5M cash with another potential $1M that would be paid in 6 months.This will take care of the apollo loan. Up Up & away from here imho Why after the bell on a friday?????
Form 8-K for OSAGE EXPLORATION & DEVELOPMENT INC
11-Oct-2013
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On October 7, 2013, Osage Exploration and Development, Inc. (the "Company) completed the sale of 100% of the membership interests in Cimarrona Limited Liability Company, an Oklahoma limited liability company ("Cimarrona LLC") to Raven Pipeline Company, LLC ("Raven"), pursuant to a Membership Interest Purchase Agreement dated September 30, 2013 (the "Agreement") by and between the Company and Raven. Cimarrona LLC is the owner of a 9.4% interest in certain oil and gas assets including a pipeline in the Guaduas field, located in the Dindal and Rio Seco Blocks that covers 30,665 acres in the Middle Magdalena Valley in Colombia.
The sales price consisted of cash of $6,800,000, less settlement of debt of Cimarrona LLC of approximately $254,000. Of the net sales price, $250,000 will be held in escrow for 12 months to secure any post-Closing purchase price adjustments and any indemnity obligations of the Company pursuant to the Agreement. In addition, so long as the per barrel transportation rate charged with respect to the pipeline is not adjusted prior to March 31, 2014, then Raven will pay the Company an additional $1,000,000 in cash within five business days of that date. The Agreement became definitive upon funding on October 7, 2013.
And so we are told this is the golden age
And gold is the reason for the wars we wage U2
