Value Microcaps Junior Energy

[Ed Ajootian]

Bobw, Osage Exp. (OEDV.OB) -- this company has about 3,000 net acres in the Mississippian play (far southern boundary) and has recently done a farmout to Slawson and another private company. They still have a ways to go before getting the first well spudded and the jury is still out whether and to what degree the Miss. play extends to their acreage, but they are worth a look IMO. I bought a bunch of the stock after the farmout announcement but have cooled my jets at this point and am waiting for it to pull back in the dog days.

If you look at them I'd be interested to hear what you think of them.

The only other microcap I know of with exposure to the Miss. play is American Petro-Hunter (AAPH.OB). They are much more advanced than Osage in the field but I don't like their capital structure (24% interest on convertible debt, etc.) so I have not bought any of their stock yet.