Osage anticipates closing the transaction within the next 30 days, at which time additional information about the property and the transaction will be disclosed.
Kim Bradford, president and CEO Osage Exploration and Development, said: This acquisition will immediately make us cash flow positive. This new field will yield roughly 115 barrels a day net to Osage’s interest at current production rates before operating expenses.
Following our joint venture on the Rosablanca concession last year, this is another example of our commitment to defining Osage as a Colombian-focused oil exploration and production company.
