Point Roberts, WA - May 31, 2011 (Investorideas.com Energy Newswire) - www.InvestorIdeas.com, a leader in sector research including oil and gas stocks, releases a recent interview with Kim Bradford, President and CEO of Osage Exploration and Development, Inc. (OTCBB: OEDV), following news of the recent joint venture with Slawson Exploration Company, Inc. and U.S. Energy Development Corporation. Mr. Bradford discusses Osage's partners, reserves and potential for the Nemaha Ridge Project in Oklahoma.

Interview

Q: Investorideas.com

The Company just announced it closed an agreement whereby Slawson Exploration Company, Inc. and U.S. Energy Development Corporation have acquired 45% and 30% respectively of Osage's Nemaha Ridge project in Oklahoma for gross consideration of $4,875,000.00 plus a 10% net carry on the first three horizontal Mississippian wells. Can you discuss the significance of the partners and what role they play moving forward?

A: Kim Bradford, President and CEO of Osage Exploration and Development, Inc.

Yes I can. Large oil companies have departments full of people and those people tend to be interchangeable in any given situation. Because we are not a large oil company, the individuality of the partners becomes paramount in determining how we go forward. In our situation, the Principals of each company come together and make decisions. The fact that Slawson and USEDC have done many deals together over the years, and the fact that Osage's VP Exploration, Greg Franklin, has known Steve Slawson for over 20 years means that from day one this partnership has a culture of trust and long term respect for each other. This is essential for success because in creating this financial partnership we have also created the Operating team. In this project there are no passive partners, we all bring a level of expertise in the various functional areas necessary to drill and exploit this resource. We are all rallying behind our Operator, Slawson, to provide leadership, but Slawson has selectively asked each of us to perform certain tasks along the way.

Q: Investorideas.com

Can you discuss the potential reserves based on the report by Pinnacle Energy Services?

A: Kim Bradford, President and CEO of Osage Exploration and Development, Inc.

Pinnacle Energy Services is run by John Paul Dick, who is widely recognized as a carbonate formation engineer of the highest caliber. Our Mississippian formation is a carbonate. It only made sense to use Pinnacle for our engineering if we could get them. Needless to say, we have a very high degree of confidence in the work and the conclusions of this report. John Paul looked at Mississippian penetrations all around our area of concentration, and looked at all the Mississippian penetrations in our land block to arrive at his conclusions. As one would expect from a firm of Pinnacle's reputation, they used very conservative assumptions to derive their calculations. Probably the best example is that fact is that Pinnacle utilized a 7% recovery factor for our project. That number could easily end up much higher, but even so, the estimated recoverable reserves per section is almost a million barrels of oil, which does not include the gas. With the gas included, we go substantially over a million barrels per section. Perhaps the ultimate test of an engineering report is whether it makes sense in context with the surrounding areas. In this case, the numbers that Pinnacle prepared for Osage looks very similar to what we have seen in actual results from SandRidge Energy (NYSE: SD ) and Chesapeake Energy (NYSE: CHK ), who are probably the two most prolific drillers in the Horizontal Mississippian to date. Taken together with John Paul's reputation, the consistency of our report and the results to date gives me a very good feeling that we can achieve these results in the field, which will be an economic home run for Osage.

Q: Investorideas.com

The$4,875,000.00 received as a result of the transaction - how far does that take the company into drilling?

A: Kim Bradford, President and CEO of Osage Exploration and Development, Inc.

We have a very clear view with Slawson and USEDC how we plan to move forward on this project. Based on that plan, we are adequately capitalized to move forward for at least a year of drilling. After we evaluate our first year's results, it appears that there is a strong likelihood that we will then increase our pace of drilling in the second year and going forward from there. The plan that we have in place is for the Mississippian development only, and could change based on other formations that we expect to encounter, because we know that we have “stacked” pay zones over our acreage block. We will wait to see what comes out of the first few drill holes before making any decisions on the additional zones, because some of them are shallower than the Miss and some are deeper.

Q: Investorideas.com

What else should investors know about Osage Exploration and Development, Inc.?

A: Kim Bradford, President and CEO of Osage Exploration and Development, Inc.

First of all, I should point out that from an investor's point of view, it is important not to overlook Osage's Colombian assets. Even mid last year, when our market capitalization was under $1,000,000, we enjoyed between $150,000 and $200,000 a month in revenue from our Colombian operations. That is a case where the investors overlooked our assets and cash flows and as a consequence the stock was severely undervalued for a long period of time. Investors must not be fooled by what the markets tell them, because markets range from severely undervaluing assets to severely overvaluing assets and everything in between. Research and analysis has always been the key for investment performance.

Our Colombian assets give us a head and shoulders advantage over our micro-cap oil and gas peers, called positive cash flow. That in turn gives us the ability to prospect for new discoveries without having to worry about where our next dollar is coming from, which leads me to the next topic. While we could not be more excited about our Horizontal Mississippian acreage, we are already well advanced in evaluating our next potential project. The next project that we take on will certainly be in the US, hopefully with similar economics to our current project. At some point in the near future however, we plan another exploration play in Colombia because we have the infrastructure already in place. We have a Colombian subsidiary, which is required by Colombian law; we also have probably the best oil and gas accounting firm and one of the very best legal firms in all of Colombia. We have extensive knowledge about how the Colombian oil and gas regulatory agencies work; we have partners and former partners that are deeply involved in Colombia so that we have access to projects with which we already have familiarity.

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Link to news release: read full news

http://www.investorideas.com/CO/OEDV/news/2011/05272.asp

About Slawson Exploration Company, Inc.

Headquartered in Wichita, KS, with regional offices in Denver, Houston, and Oklahoma City, Slawson was founded in 1957. http://www.slawsoncompanies.com/exploration.html

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.

Contact:

Osage Exploration and Development, Inc. Kim Bradford, President and CEO Phone: 619-677-3956 Fax: 619-677-3964 This email address is being protected from spambots. You need JavaScript enabled to view it.

www.osageexploration.com

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Osage Exploration and Development, Inc. (OEDV.OB) is a showcase oil and gas stock on Investorideas.com Visit the company showcase profile at Investorideas.com Request news and stock alerts for Osage Exploration and Development, Inc. (OEDV.OB) Disclosure : (6 months starting May 24, 2011 thirty five hundred per month, 100,000 144 shares)