Western Standard Energy Corp. (WSEG.OB) to Acquire Third Prospect in Promising Bakken Formation
Western Standard Energy Corp. (OTCBB: WSEG) today announced the signing of a Memorandum of Intent to acquire the Rocheford 27-1 Lodgepole Reef Prospect in Stark County, N.D. The oil and gas exploration company recruited independent, third-party geologist Jamil Azad to provide an estimate on the potential of the lease. It was Azad’s opinion that the geochemically high-graded Rocheford 27-1 prospect has the potential to produce commercial quantities of oil. Additionally, according to the United States Geological Survey (USGS), North Dakota and Montana have approximately 3 to 4.3 billion barrels of undiscovered, “technically recoverable” oil in the Bakken Formation. "We are…