Western Standard Energy (WSEG) is an exploration-stage oil firm focused on extracting crude oil and natural gas from the Bakken Formation that runs through Montana, North Dakota and Canada. The area is believed to hold some of the largest reserves of crude oil in the North America, after Alaska’s Prudhoe Bay and the oilfields of West Texas. In fact, it is speculated that there are potentially 503 billion barrels of oil on 25,000 square miles of the Bakken Formation. That amount surpasses Saudi Arabia’s reserves by five times and is believed to be over 200 times the total known reserves in the U.S.

Western Standard is currently engaged in a natural gas project in Montana and an oil project in North Dakota. The combined value of the two projects is estimated to be almost $2.9 billion. In North Dakota, the company has seven prospects in an area known as the Lodgepole

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