Western Standard Energy Corp. (WSEG.OB) Forms Partnerships to Bank on Promising Bakken Formation
Western Standard Energy Corp., (OTCBB: WSEG) is an independent oil and gas exploration company with properties scattered across Montana and North Dakota. According to the U.S. Geological Survey, the two states have an estimated 3.0 to 4.3 billion barrels of untapped, recoverable oil in the Bakken Formation. Western Standard today announced it intends to engage in a drilling partnership with Oil for America LLC (OFA) to fund operations for one Lodgepole well and a second Lodgepole-Bakken well, both in North Dakota. The company also announced it will form a new, wholly-owned subsidiary, receiving an overriding 3 percent royalty for the…