A potential 26.83% plus gain is starring traders in the face who are watching the penny stock of Osage Exploration and Development, Inc. (OEDV). Trading currently at 22 cents under the 50 day moving average, 26 cents under the 200 day moving average, OEDV stock has already bounced back to gain as much as 49.21% since the independent exploration and production company, focused on the Horizontal Mississippian and Woodford plays in Oklahoma, sent a letter to its shareholders yesterday.
Translation: Get OEDV on your list of penny stocks to watch immediately.
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OEDV Stock Chart
Market Cap: 39.68M
Last: 0.82, up 0.08 (10.81%)
Dollar Volume: $88,388
Average Trade Size: 3,016
Issued and Outstanding: 48,394,775
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Cheap oil stocks don’t come served on a silver platter any better than Osage Exploration and Development was yesterday. Not only did the company report revenues from oil sales of $888,921 and $1,774,549 for the three and six months ended June 30, 2012, respectively, but total revenues for the respective periods were $1,359,816 and $2,715,335. The numbers for the six months ended were strong enough to supply a net loss of just $164,957. That’s damn near break even.
Yesterday, Osage Exploration and Development President and CEO, Kim Bradford, made a number of statements to update shareholders in a letter addressed to them. One such statement reminded me of Bruce Willis’ character, Harry, from the hit silver screen blockbuster, Armageddon. Bradford stated at the closing of the letter to shareholders:
“Small oil stocks can display extreme volatility, but never once has the Osage team failed to deliver on acreage, quality partners, or drilling progression. Those things still hold true, and as such I felt it incumbent upon myself to alert our shareholders that production information will not be coming quickly. However, beginning around the first of next year, results of our drilling will come in bunches.”
Translation: Party on Wayne — Party on Garth
About OEDV Stock
Osage Exploration and Development, Inc. is an independent energy company engaged primarily in the acquisition, development, production and sale of oil, gas and natural gas liquids. The Company’s production activities are located in the state of Oklahoma and the country of Colombia.
Click here to view the SEC filings for OEDV.
Bottom Line: GET OEDV ON THE LIST OF PENNY STOCKS TO WATCH IMMEDIATELY! Oops, was I screaming? Yes I was because OEDV stock is extremely undervalued and has fixed upside gains built into it that even a monkey could see. They made the top 10 most traded back when SNPK was still alive and SEFE had just begun and could soon return.
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