Western Standard Energy Corp. has entered into an agreement with East Dickinson Oil and Gas Co. to acquire a package of ten State of North Dakota oil & gas exploration leases in and around Dickinson, North Dakota.
Western Standard has also acquired one State of North Dakota oil & gas lease from the Stark County Oil & Gas Co., amounting to around 750 net acres to be added to the Company's exploration assets upon assignment (the ‘Leases’). All the Leases have a 1/8 royalty to the State of North Dakota, with the exception of two of the Leases, which have a 1/6 royalty.
Oil For America, LLC, a consultant to East Dickinson Oil and Gas Co. and the Stark County Oil & Gas Co., have identified and high-graded 10 Lodgepole Reef prospects on the Leases. According to a letter addressed to the company by Jamil Azad, a professional consulting geologist, there are no shallow gas sands to distort our proprietary geochemical analysis and each location yielded a strong and clear geochemical fingerprint of Lodgepole petroleum.
Dan Bauer, President and CEO of Western Standard Energy stated, "With this recent acquisition Western Standard now has 18 identified and high-graded Lodgepole Reef prospects in its portfolio of exploration assets. This demonstrates our continued commitment to exploration in North Dakota and in Montana."
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