Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
They took control of their own operations and have had great success in their first 8 (?) wells, with above average results. Since oil has come down this much, they have suspended drilling new wells for the time being until it makes sense financially to drill more. I listened in on the last presentation and they were saying they're right around breakeven costs at oil prices in the 45-50 range. I think they were doing excellent before oil prices came down, but now it's all about surviving and they do have debt through Apollo that needs to be paid in the meantime. I'm holding all my shares I bought in 2012.
OEDV +25% jump there, looked great for a minute lol
OEDV bid is actually stacking, wow it's been a long time since we've had that!
Got 40k shares
In the presentation Zack stated that they are right around a breakeven point with today's oil prices in the mid 40's range. Obviously there won't be much profit but they would be able to survive it seems. They also have the option to let go some of some land/assets to make sure they can pay debt note in case of trouble.
In the presentation you posted, I liked Slide 14. If you take the optimistic route on the three key points, you can expect a 20-35% profit at $55 per barrel if the MS wells trend stays. $55 is not far off the current price if we do get a bump up.
I'm down close to 30 grand on my OEDV holding so it's certainly one that I focus on a lot. If oil hits $30's or even $20's, I will reevaluate but for now I'm just staying the course and taking emotion out of it - hibernation mode.
Anybody watching the action here? Dropping big blocks onto the bid this morning, frustrating. MMs? Dilution? Just plain ole trading?
Osage Exploration and Development Announces 892 BOE Per Day Mississippian Well
SECOND WELL OFF SAME PAD PRODUCES 746 BOE PER DAY
SAN DIEGO, CALIFORNIA, December 9, 2014 - Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced preliminary production results from two Horizontal Mississippian wells, the George Plagg 1-18MH and the George Plagg 1-19MH, located in Logan County, Oklahoma.
The George Plagg 1-18MH, a horizontal Mississippian well in Section 18-17N-2W, has reached a peak one-day production rate of 892 BOE. The product mix is 90% crude oil and natural gas liquids with 10% natural gas. Osage has approximately a 49% Working Interest in the well.
The George Plagg 1-19MH, a horizontal Mississippian well in Section 19-17N-2W, has reached a one-day production rate of 746 BOE. The product mix is 94% crude oil and natural gas liquids with 6% natural gas. Osage has approximately a 63% Working Interest in the well.
Management Comments
"Since Osage began drilling in Logan County in 2012, we have constantly pointed to a singular fact: that we had put together the best Mississippian acreage in the play. Once we gained operational control late last year, we have been talking about another key attribute: that we have put together a premier Operating team to execute our plans," stated Mr. Kim Bradford, Chairman and CEO of Osage Exploration. "Today you see the culmination of those two things, as these results are among the very best achieved by anyone to date in this play. Sequentially, Osage has brought wells online that have produced 611 BOE, 695 BOE, 746 BOE, and 892 BOE as peak IP rates. These results are blowing out all projections and predictions to date.
"The conventional wisdom is that the Horizontal Mississippian is a statistical play and that for every good well, you will get a less than good well. That may be true across the width and breadth of the play, but Osage's results seem to indicate that our application of the science has led us to a sweet spot, which is what we have asserted all along.
Mr. Bradford continued, "I am personally proud of our results, but even more proud of the performance of the entire Osage team. We hold a tremendous acreage position, we drill our wells fast and accurately, we design and execute our fracs as well as anyone and take a very restrained approach to production. I expect to continue to set new high water marks going forward."
About Osage Exploration and Development, Inc.
Based in San Diego, California, with production offices in Oklahoma City, Oklahoma, Osage Exploration and Development, Inc. is an independent exploration and production company with interests in oil and gas wells and prospects in the U.S. http://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
Phone: 619-677-3956
kbradford@osageexploration.com
Jack Zedlitz, Vice President, Corporate Development
Phone: 405-270-0989
jzedlitz@osageexploration.com
http://www.OsageExploration.com
I don't think there's enough volume to consider this a 'dump'.
You have to consider all the people that bought in years ago at very cheap prices like a penny. They were up 1000% and might now be up 500%, maybe panic a bit and just sell to lock in some profits. Then you have guys that may think Osage will end up on the bad end of the Revenue vs Loan race, that's the greatest risk of this stock. They've proven that they can locate good acreage, drill good wells and get the oil flowing. Oil prices to me are just a temporary distraction.
To add to my previous argument, it's not necessarily the goal to be at exactly $0 debt. Debt is usually a good tool for businesses and shouldn't be seen as a general negative if it allows a company to speed up production and use it as leverage. I guess my point wasn't that they're trying to get to $0 debt, but to reduce debt enough to be able to pay all bills and not get eaten by interest amounts moving forward; they're is such a thing as healthy debt.
Overall, it's frustrating to see the stock linger at these prices. My buy in average is higher than today's stock price, but it's not a trade for me, it's a multi-year investment for me. I might be jealous for people being able to buy in at these cheap prices, but overall, we will all be happy if it reaches $2+ in the future. That's my bet, anyways.
They wouldn't announce dividend while they're working to pay off their initial drilling loans. People are interested because they're growing rapidly and drilling more and more wells with majority of interest in each one. This is a growth vs loan race and they're gaining at a great pace.
OEDV oil revenues are ramping up nicely, but 2014 Q2 was an expensive quarter, dang. Over $4m in revenues but total expenses of around $9m in Q2.
unless you're just flipping intra-weekly, people letting shares go at this price level is beyond me.
Great news for OEDV! Increased their production by 50% with only two wells, this is awesome.
that big jump was right back to the MA50 at 0.51. I think this becomes support and finally a reversal. but who knows
Bought another 3k at 0.445. You could tell everybody started posting about buying in this range.
I think any online broker will show you the current bid and ask volume; I didn't look at any Level 2 quotes.
Volume has calmed down, I guess it's getting thin on the ask side since it's still rising. Love seeing those 20k and 40k bids sitting on the price throughout this rise.
OEDV 1.28's up for grabs
up again, picking up where we left off last week.
gotta love it. I haven't found any news either, I'm guessing technical traders are seeing the wedge pattern come to a close or somebody got info on the new wells and wants in.
The wedge is still intact (and probably the reason we're seeing some resistance at $1.20), but I think we're gonna break it wide open soon if wells results are decent or great.
OEDV showing volume.
It's been quiet but Osage is working on two of their own wells right now and one was ahead of schedule and below cost. I don't know about the second one but they're expecting to get results in the third quarter. So my guess is everybody has just been hanging in there and waiting for that. Still long myself with full position.
Revenue slighly under the estimate shown on Yahoo but I'm ok with the results overall. It's really all about their new wells and how they will produce. Holding full position.
over 100k shares on the bid... this has been trading sideways for a while now, I'm ready to see some action.
0.7925 posted. choo
I think you've mentioned that before, great insight! Anybody else?
What if they increase their revenues with successful wells until a big player like Devon wants to buy them out for a multiple of the current valuation?
OEDV - Exciting times, this is a huge step for Osage. Lets hope for great results out of their first own wells, good luck all! Still holding all shares.
someone just picked up a 100k shares
ONCS $0.64 hitting
TSNP, those 4's looking THIN!
holy crap, that's over 20% of the float traded just today
26 mil traded already
OEDV - Yea, that was a rough drop on only 30k shares this morning, but it was heading back up and had $1.30 on the ask this afternoon.
Another OEDV Presentation Jan 20 -
January 17, 2014
Osage Exploration & Dev, Inc. To Present At The Noble Financial TEN Conference
SAN DIEGO, CALIFORNIA, January 17, 2014 - Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma, announced today that it will present at the Noble Financial Capital Markets Tenth Annual Equity Conference in Port St. Lucie, Florida. The presentation will take place on Monday, January 20, 2014 at 11:30 a.m. EST. Presenting from Osage will be Mr. Jack Zedlitz, Vice President of Corporate Development.
The presentation will be webcast, and can be accessed live at the following link:
http://noble.mediasite.com/mediasite/Play/a6f70029c5a34155bd0e6122ea04dd271d
Following the presentation, an archive of the webcast will be made available on the Company's website, http://www.osageexploration.com.
About Osage Exploration and Development, Inc.
Based in San Diego, California, with production offices in Oklahoma City, Oklahoma, Osage Exploration and Development, Inc. is an independent exploration and production company with interests in oil and gas wells and prospects in the U.S. http://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.
I'm thinking this might be some investors that are now coming around to buying after the presentation earlier this week
I'm on board. Holding onto to all my shares, loved seeing that 100k shares pop this afternoon. Someone wanted in and didn't care at what price he got those shares... good signs.
OEDV loving the action over the last few days.