Share price of Osage Exploration and Development, Inc. (OTC:OEDV) stock climbed to a new six-month high in the last trading session on Friday. No particular reason can be identified yet and the company’s valuation appears highly inflated. 
OEDV yearly chart shows that the new nigh from Friday is also a new high for the entire last 52 weeks of trading. The last session closed at $0.70 for a share, which represents a 16.67% increase in value from the previous close. The new high of OEDV share price did not come with a new high for the trading volume, however.
Around 171,600 shares were traded for the day, still a number more than twice the daily average for the past three months, and in any case too high for the lack of any official news from the company. Osage’s only news release for this year is from January 18.
In it, the company announced the spudding of a second horizontal well located in Logan County, Oklahoma – the Krittenbrink 2-36H well. OEDV intends to start the drilling in cooperation with its partners Slawson Exploration Company and US Energy Development Corporation.
OEDV share price started climbing up shortly after this announcement but the current market value of the stock, which is now about $33 million, appears inflated relative to the company’s reported assets and revenues.
At the end of last September, OEDV had total assets for $5.3 million, of which $2.9 million in cash, while its total operating oil and pipeline revenue for the quarter had nearly doubled on an yearly basis to reach $854,200.
