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Western Standard Energy Corp. Announces Shallow Gas Structure Discovery on Starbuck East Prospect in Montana

Posted on: Wednesday, 31 October 2007, 15:00 CDT

Western Standard Energy Corp., (the "Company") (OTCBB:WSEG - News), an oil and gas exploration company, is pleased to announce positive initial drilling results from their first drill program on the Starbuck East Prospect in Valley County Shallow Gas Assembly in the state of Montana with partner Coastal Petroleum Company.

This first exploratory gas well was spudded one week ago and was drilled to a total depth of 1,126 feet by Coastal Petroleum Company, the well operator. The well has confirmed the structure it was drilled to test. The drill program included intersects through two targets -- the secondary target called the Judith Sands and the primary target called the Eagle Sands.

"Both horizons were high and both horizons had gas shows indicating potential for gas production," commented Phillip Ware, president and CEO of Coastal Caribbean Oil and Minerals Ltd, parent company of Coastal Petroleum Company. Ware further stated, "We will soon be ready to test the well for it's productivity, followed by the drilling of additional test wells in the area."

It is anticipated that completion operations will commence shortly, in order to test the extent of gas production from both discovery zones. Permitting is ongoing for the drilling of four step-out wells which will further quantify reserves in the discovery zones, and test four additional objective formations below the Eagle Sands and Judith Sands formations.

William Divine, Senior Vice-President, Exploration of Western Standard, states: "We are pleased with the initial results from the test well on the Starbuck East Prospect. With the well having already been cased, we now look forward to well completion and testing."

Pursuant to its Farmout Agreement with Coastal Petroleum Company, Western Standard has financed the cost of the test well and associated lease rentals in return for 100% of the working interest before payout of the test well and 80% of the working interest of the test well after payout.

About Western Standard Energy Corp.

Western Standard Energy Corp. is a publicly traded independent oil and gas exploration company with headquarters in London, England. Currently, Western Standard has a Farmout Agreement with Coastal Petroleum Company, for leases on approximately forty-two thousand (42,000) acres in Valley County Shallow Gas Assembly in the state of Montana. Western Standard aims to secure and develop a portfolio of oil and gas properties throughout the Central and Western United States of America. Western Standard Energy Corp. is a publicly traded company and trades on the NASD OTC BB under the ticker symbol:WSEG.

Western Standard Energy Corp.

Dan Bauer, President

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this news release include that we hope that the Starbuck Prospect will demonstrate gas producing characteristics of successful wells, the Company's belief that we can further develop those properties with additional wells; the future development potential of our license in the Valley County Montana Project, that we hope to secure and develop a portfolio of oil and gas properties throughout the Central and Western United States of America; and that we intend on drilling our first test well in the immediate future to begin the process of proving out the prospect. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, and the likelihood that no commercial quantities of gas are found or recoverable. Additional information on risks for the Company can be found in filings on Edgar of other junior oil and gas exploration companies with the US Securities and Exchange Commission.

Source: Business Wire

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