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Osage Spuds First Mississippi Lime Well

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Osage Exploration and Development, Inc., is pleased to announce the spudding of the Wolfe 1-29H on December 10, 2011 in Logan County, Oklahoma. The Wolfe is the first horizontal Mississippian well to commence drilling in the Company's previously announced 20,000 acre Nemaha Ridge project in conjunction with its partners, Slawson Exploration Company and US Energy Development Corporation.

The second well in the project, the Krittenbrink 2-36H, is scheduled to spud, or commence drilling, immediately following the completion of the Company's second disposal well. The rig that will drill the second disposal well and the second horizontal Mississippian well is scheduled to arrive on location this week.

"To date, our story is one of execution: identifying early the potential of our acreage in…

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