Osage Exploration and Development, Inc. filed a notice of auction result and report of sale relating to the sale of substantially all its assets on March 24, 2016. As per the notice, $8.40 million bid of Red Bluff Resources Operating, LLC has been identified as winning bidder and $8.35 million bid of Black Oak Energy, LLC as next highest bid, in the auction held on March 24, 2016. Buyer has deposited $0.10 million as per the agreement.

Objections to the sale can be filed by March 28, 2016. Sale hearing is scheduled for March 31, 2016. Transaction is expected to close by later of