As August comes to an end, one independent exploration and production company focused on the Horizontal Mississippian and Woodford plays in Oklahoma kinda hopes it would continue. Since the start of the month, the penny stock of Osage Exploration and Development, Inc. (OEDV) has seen a 73% increase after a spectacular Q2 report followed by a major news announcement. Cranking up to test their 52 week high from February when OEDV stock gained over $1, 125%, from our initial coverage last October, September should bring some good times to the August longs.
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OEDV Stock Quote
Market Cap: 76.78M
Last: 1.54 ▲ +0.01 (+0.65%)
Volume: 213,193
Dollar Volume: $325,719
Open: 1.54
High: 1.61
Low: 1.50
Trades: 137
Authorized: 190,000,000
Issued and Outstanding: 49,854,675
14-Day Rel Strength: 77.43%
1st Resistance Point: 1.6233
1st Support Level: 1.4767
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Back at the start of August, things were kinda slow for traders of Osage Exploration and Development having not heard much of any developments since late June. Back then, the Horizontal Mississippian and Woodford plays in Oklahoma focused explorers announced the spudding of 10 wells, 9 of which were Horizontal Mississippian wells, bringing the total of new wells drilled in 2013 which the Company owns a working interest in to 19 versus just 10 for all of 2012.
Then came the Q2 filing for Osage which clearly showed these guys not only can talk the talk, but they can walk the walk as well.
For the 3 and 6 months ended June 30, 2012, Osage reported oil revenues of $1,681,559 and $3,385,085, respectively versus $901,424 and $1,774,549 for the same periods the year prior. The increase of 86.54% for the 3 months compared to the same period in 2012, 90.76% for the 6 months ended compared to the same period in 2012, was just the beginning.
Both pipeline revenues and natural gas revenues also increased by better than double digit percentages bringing total operating revenues for the 3 and 6 months ended to $2,390,261 and $4,817,012, respectively, versus $1,359,816 and $2,715,335, respectively, for the same periods in 2012.
Even more significant when taking into account that the total number of new wells Osage drilled in 2013 are nearly double the total from 2012, yet at the same time, total operating costs decreased to $1,185,057 for the 3 months ended June 30, 2013 when compared to the $1,634,379 reported for the same 3 month period in 2012.
As if that wasn’t significant enough to encourage buyers to grab some OEDV stock, just 5 days after reporting a superb Q, Osage announced preliminary production results on one of their horizontal Mississippian wells, the Mallard 1-16H located in Logan County, Oklahoma. In just a 24-hour time frame, a peak initial production rate of 705 barrels of oil plus associated natural gas on an electric submersible pump and a 48/64” choke was achieved.
Whether we go to war in Syria or not, Osage is doing the business in our own backyard and OEDV stock is paying the price for it. Actually, it would be better put to say that the traders who missed our first call on OEDV and are still reluctant to go long on it now are the ones paying the price.
About OEDV Stock
Osage Exploration and Development, Inc., with with production activities in Oklahoma and Columbia, is an independent energy company engaged primarily in the acquisition, development, production and sale of oil, gas and natural gas liquids.
Click here to view the SEC filings for OEDV.
Click here to view the website for Osage Exploration and Development.
Last 5 Trading Sessions:
| Date | Last | Change | Volume | |
| 08/30/13 | 1.5400 | +0.0100 | +0.65% | 210,193 |
| 08/29/13 | 1.5300 | +0.2100 | +15.91% | 809,700 |
| 08/28/13 | 1.3200 | +0.1200 | +10.00% | 68,500 |
| 08/27/13 | 1.2000 | -0.0200 | -1.64% | 8,600 |
| 08/26/13 | 1.2200 | +0.0200 | +1.67% | 21,400 |
Bottom Line:
Although it isn’t a bargain price, OEDV is still a relative sleeper prospect for penny stock traders. With $1.85 in sight in the near-term, OEDV stock could see a huge push well above that when their Q3 report comes out making a safe bet to see some high level, double digit gains from here.
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