Replies to post #2 on Osage Exploration and Development Inc (OEDVQ)

[Tina]

April 23, 2008
Osage Exploration and Development, Inc. Announces Operations Update

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SAN DIEGO, California, April 23, 2008 -- Osage Exploration and Development, Inc. (OTCBB: OEDV), an independent oil and gas exploration and production company, is pleased to announce an operational update regarding the Company's acquisition and development efforts in Colombia.

Osage has worked the past 18 months to uniquely position itself to capitalize on several high impact projects in Colombia. The Company currently produces approximately 120 BOPD from its Colombia and Oklahoma properties. In Colombia the Company has completed two joint ventures with well-established Colombian E&P operating companies including Gold Oil, plc (GOO:LSE), and Pacific Rubiales Energy (PEG:TSE). Respectively, these are the Rosablanca project, which consists of a 50% working interest in a 100,000 acre concession in the Middle Magdalena Valley that is on trend with several producing fields, the nearest of which is 6 miles away; and the Guaduas Field which consists of a 9.3% working interest in 75,558 acres with current gross production of 1,000 BOPD that also includes a 9.3% ownership interest in a pipeline that has transportation capacity of 20,000 Bbls/d.

In addition to these two properties, the Company has two other Colombian oil and gas joint ventures identified and has entered into two letters of intent with another major Colombian E&P operating company, pending final documentation and governmental approval. All told, these four properties encompass over 268,000 gross acres (over 420 square miles) with estimated total proven reserves of 0.4 MMBbls and possible reserve potential of over 50 MMBbls based on internal Company engineering and estimates.

The first LOI is on a project in the Middle Magdalena Valley encompassing over 25,000 gross acres located in close proximity to a number of analogous wells that initially produced on average 400 BOPD with minimal decline. The second LOI is on a project in the Llanos Basin that encompasses over 55,000 acres that will target a 6,000' deep channel sand target located within 30 miles of analogous channel sands that are producing on average 14,000 BOPD.



April 14, 2008:
Osage announced that it had acquired 100% of Cimarrona LLC which owns a 9.3% interest in the producing Guaduas oil field in Colombia. The Guaduas Field is made up of the Dindal and Rio Seco blocks in the prolific Middle Magdalena Valley. The acquisition also includes 9.3% of a pipeline that can transport up to 20,000 bbls/day. The remaining 90.6% interest in both assets is held by Pacific Rubiales Energy (PEG:TSE), one of the largest independent Exploration and Production companies in Colombia.

"Osage has now established long term reserves and production in Colombia and will participate in the pipeline revenues as well. With this acquisition and our drilling commitments, we are solidly on schedule to achieve the substantial growth in reserves and cash flow in 2008 that we are seeking," stated Greg Franklin, VP Exploration.

"The value in working with Pacific Rubiales Energy cannot be overstated. They have executed a tremendous acquisition strategy combined with superb exploration, and we can certainly learn from their experience. What Pacific has accomplished is clearly a blueprint for us and we are pleased to have been welcomed by such an impressive team," stated Kim Bradford, President and CEO.

March 14, 2008:
Osage announced that it had signed a Letter of Intent and issued a $100,000 cash deposit to acquire a minority interest in a producing oil field in Colombia. Osage anticipates closing the transaction within the next thirty days, at which time additional information about the property and the transaction will be disclosed. "This acquisition will immediately make us cash flow positive. This new field will yield roughly 115 barrels a day net to Osage's interest at current production rates before operating expenses. Following our joint venture on the Rosablanca concession last year, this is another example of our commitment to defining Osage as a Colombian-focused oil exploration and production company," stated Kim Bradford, President and CEO.

"Drilling Osage's big exploration targets will drive our value and is clearly our focus in Colombia this year, but we remain keenly interested in all Colombian oil opportunities with high quality partners," said Greg Franklin, VP Exploration.

"This transaction is a credit to the entire team at Osage," according to Ran Furman, CFO, "not only have we extensively reviewed the geological aspects of this field, we also anticipate additional tax and corporate efficiencies by combining this operation with our own established Colombian infrastructure."

February 27, 2008:
Osage announced that it had been approved for trading on the OTC Bulletin Board effective immediately.

"We have reached yet another milestone by migrating our listing to the OTC Bulletin Board. Our effort to provide shareholders and the financial community with transparency of our operations has resulted in a listing that will generate broader exposure for Osage," stated Kim Bradford, Chairman and CEO of Osage Exploration and Development, Inc.

August 10, 2007:
Osage announced a major Colombian acquisition in partnership with Gold Oil Plc (GOO: LSE) and Empesa, a private Colombian petroleum consulting company in the prolific Middle Magdalena Basin.

Osage has farmed-in to a 50% interest in the approximately 165 square mile Rosablanca concession awarded by the Agencia Nacional de Hidrocarburos (ANH) to Gold Oil, plc in June, 2007. Osage will pay all costs associated with drilling the first well on the Rosablanca project to earn its interest. Gold Oil will retain a 40% share, and Empesa will remain as a 10% participant.

"This announcement is the culmination of months of planning and geological evaluation designed to transition Osage into a Colombian exploration and development play. In cooperation with our highly competent and experienced partners Gold Oil and Empesa, Osage has established a large exploration footprint with multiple identified targets in one of the most productive onshore basins in Colombia. The directors, consultants, and legal team at Osage have worked tirelessly in pursuit of this acquisition to build value for our shareholders. We are especially grateful for the leadership of Managing Director Gary Moore of Gold Oil in finalizing this transaction with us," stated Kim Bradford, Chairman and CEO.

"Our corporate vision for Osage involves large targets in highly prospective areas in Colombia, and the acquisition of the Rosablanca certainly fulfills this mandate. We will continue to evaluate Colombian opportunities seeking additional high quality projects to complement the Rosablanca," stated Greg Franklin, Director.

About Osage Exploration and Development, Inc.
Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and executive offices in Bogota, Colombia, Osage Exploration and Development, Inc. is an independent exploration and production company with interests in oil and gas wells and prospects in the US and Colombia. www.osageexploration.com

About Pacific Rubiales Energy
Pacific Rubiales Energy, a Canadian-based company and producer of heavy crude oil and natural gas, owns 100 percent of Meta Petroleum Limited, a Colombian oil and gas operator which operates the Rubiales and Piriri oil fields in the Llanos Basin in association with Ecopetrol S.A. the Colombian, state-owned oil company. Pacific Rubiales Energy also owns 100 percent of Pacific Stratus Energy Colombia which operates the Dindal, Rio Seco, Creciente and Moriche fields. The company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia and the upstream Sub Andean basins. Pacific Rubiales has a current net production of approximately 19,050 barrels of oil equivalent per day, with working interests in the Rubiales, Piriri and Quifa concessions and the Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche, Guama, Arauca, Tacacho and Jagueyes blocks in Colombia and blocks 135, 137 and 138 in Peru. The company has offices in Toronto, Vancouver, Caracas and Bogota. www.pacificrubiales.com

About Gold Oil, plc
Gold Oil, plc is a publicly traded company listed on the Alternative Investment Market (AIM) operated by the London Stock Exchange. Gold Oil is an oil and gas exploration and exploitation company focused on Central and Southern America. Gold Oil has exploration efforts ongoing in Peru, Brazil, and Colombia. www.goldoilplc.com

About Empesa
Compania Petrolera de Servicios y Acesorias S.A. (Empesa) is a multi-disciplinary group of professionals with wide experience in the petroleum industry in Colombia. Empesa executes well design, well planning, and drill programs for customers in Colombia such as Occidental Colombia, Lukoil, Gulfsands, and Ecopetrol.

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.

For more information, please contact:

Kim Bradford, President and CEO
Osage Exploration and Development, Inc.
Phone: [phone]
Fax: [phone]
[e-mail]
www.osageexploration.com