Osage Exploration and Development Inc (OEDVQ)

[Ed Ajootian]

More bullish Miss. play comments from Devon in their earnings CC today:

"In the Mississippian oil play, located in North Central Oklahoma where the partnership has assembled 230,000 net acres, we are encouraged with the results of our first well. The Matthews 1H had a 30-day IP rate of 590 oil equivalent barrels per day, and is among the best wells reported in the play to date. We currently have 2 rigs running and 2 wells completing. We expect to drill or participate in roughly 50 wells on this acreage by year-end. It including tests of additional formations."

The fact that they are accelerating their activity in this play is a strong vote of confidence in it to say the least. This may have had something to do with today's rally in OEDV.