SAN DIEGO, CA - August 15, 2011 (Investorideas.com energy stocks newswire) - Osage Exploration and Development, Inc. (OTCBB: OEDV) is pleased to release highlights from their latest form 10-Q currently posted on EDGAR.

As of June 30, 2011 total current assets are $3,630,606 versus $421,685 a year earlier, an increase of 860%.

Total shareholders equity increased from $1,298,952 to $5,313,859 year over year, an increase of over 400%.

The foregoing increases were primarily as a result of Osage's activity in the Oklahoma horizontal Mississippian joint venture with Slawson Exploration Inc, and US Energy Development Corporation.

 

For the six months ended June 30, 2011, total operating revenues were $1,604,194 versus $799,111 for the six months ended June 30, 2010, an increase of 100% year over year. Comprehensive income was $2,717,488 versus a loss in 2010 of $1,429,469.

In the six months ended June 2011 net income per share was $0.06 versus a loss of $0.03 a year earlier.

The increase in operating revenue was almost exclusively generated by Osage's Colombian assets.

About Osage Exploration and Development, Inc.

Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and executive offices in Bogot�, 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 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

About U.S. Energy Development Corporation

U.S. Energy Development Corporation was formed in 1980 as a successor to Oilmark & Company, Inc., founded in 1978. The company has consistently been ranked among the Top 50 Independent Oil & Natural Gas Drillers in the United States and is one of the largest drillers in both New York and Pennsylvania. Since 1980, U.S. Energy has acted as operator with respect to the drilling of more than 2,500 wells. www.usenergydevcorp.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.

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Please view the complete 10-Q on EDGAR:

http://www.sec.gov/Archives/edgar/data/1405686/000149315211000245/form10q.htm

Contact:

Osage Exploration and Development, Inc.

Kim Bradford, President and CEO

Phone: 619-677-3956

Fax: 619-677-3964

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www.osageexploration.com

or

Standard & Poor's Customer Contact:

Richard Albanese, 212-438-3647

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or

Media Relations Contact:

Michael Privitera, 212-438-6679

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Disclosure : (6 months starting May 24, 2011 thirty five hundred per month, 100,000 144 shares)