There is an old baseball adage about “hitting it where they ain’t.” If every company is herding in one direction, perhaps moving in another to find new sources of revenue is a wise idea. Often the overlooked opportunity can be found with this thought in mind. If an investor can find a company that is willing to commit to going its own way, perhaps profit is at hand.
Osage Exploration Inc., an independent oil and gas exploration and development company, works to find and develop oil and gas properties primarily in Oklahoma, Texas and Columbia, South America. The company has obtained rights for testing and drilling at its primary Columbian site through the end of 2008, and expects to continue to work in tandem with the Colombian oil authority for the longer term.
With offices in Oklahoma and San Diego California, the company has struck out into the international oil and gas exploration market with high hopes in Columbia. Since the country’s oil opening in 2003, it has seen an easy transition to a more independent market. According to BP, the country has the fifth largest reserves in the region and the infrastructure to support it through 5 major pipelines to a Caribbean port. The company, however, did not jump right into its 50% ownership of the Rosa Blanca tract in Columbia. It has 100% interest in 23 drilled wells and 10 producing wells located in Texas and Oklahoma.
Generally speaking, the company has moved to expand its operations in Columbia for the opportunities that exist. The country has vast tracts of unexplored oil and gas positions and is actively working to lure oil companies back to a country that has gained notoriety. The country has become a net exporter of oil in recent years with government trying to offer almost any concession to increase its world oil reputation. Osage Exploration may be exploring fairly far from home, but it is beginning to play the oil and gas game with the big boys in hopes of tapping an oil and gas source some may have missed.
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