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 lease assignments. As part of the partnership, Western Standard will invest half of the “partnership” units for $3.2 million, alongside third-party interests, for an aggregate investment of $6.4 million.

According to OFA, the Lodgepole Reef play was established in 1993 when ConocoPhillips experienced an initial production rate of around 400 barrels of oil per day. For Western Standard, drilling operations of the Lodgepole target are expected to cost $1.6 million. Per the partnership, operations for the Bakken will incur an additional $3.2 million, for an aggregate of $4.8 million for one Lodegepole-Bakken well.

Capital City Energy Group Inc. (CETG.OB) Drills into Arkansas Soil to Generate “Promising Revenues”

Capital City Energy Group Inc. (OTCBB: CETG) is a diversified oil and natural gas company operating in three divisions. The company is taking steps to switch gears, moving from institutional direct participation energy programs toward becoming a vertically integrated oil and natural gas company focused on grass-roots drilling, operating, service companies, acquisitions and fund management.

As part of this plan, the company today announced the acquisition of an interest in the prolific Fayetteville Shale in Arkansas. This acquisition allows the company to participate in the drilling of more than 30,000 acres, adding to its previous participation with 29 producing wells on the properties. Drilling activity has increased between 8 and 10 new producing wells per month, generating more than 1 million cubic feet per day of natural gas production.

“We are excited to have gained exposure to this high potential play,” Capital City CEO Timothy W. Crawford stated in the press release. “The Fayetteville Shale has quickly developed into a large unconventional gas resource and has attracted national attention due to the success in the area of such prominent energy firms as Chesapeake Energy and Southwestern Energy Company.”

Crawford said the Fayetteville Shale gives the company the potential it needs to further its evolution process. “With production increasing rapidly, we believe that the play could be a promising source of revenue,” Crawford stated.

The Fayetteville Shale is comparable to the Texas Barnett Shale formation, boasting thickness of the producing shale zones ranging from approximately 50 feet to more than 600 feet; natural gas in place is estimated between 58 billion and 65 billion cubic feet per square mile.

Ceragon Networks Ltd. (CRNT) Reports Strong Second Quarter Results – Discusses Increased Revenues and Raises FY08 Guidance

Shares of Ceragon Networks Ltd. (NASDAQ: CRNT), a global provider of high-capacity broadband wireless systems for next generation networks, traded higher earlier this week after the company reported positive results for the second quarter. During the second quarter, which ended on June 30, 2008, revenues reached $55.2 million, an impressive 47.9 percent year-over-year increase from $37.3 million during the second quarter of 2007 and a 17 percent gain from $47.2 million in the first quarter of this year.

Reaching an all-time record revenue of $55 million, the company’s non-GAAP net income totaled $0.13 per diluted share, compared to net income of $0.12 per diluted share for the same period in 2007. According to Ceragon’s president and chief executive officer, Ira Palti, bookings remain very strong and the company continues to benefit from the growing worldwide demand for high-capacity technology, allowing global migration earlier than expected.

Although the results of the second quarter were positive, gross margin for the second quarter totaled 34 percent and the company’s operating margin was 7.8 percent, reflecting the lower gross margin. Looking into the remainder of the year, senior management expects gross margin to return to the 35 percent to 36 percent range in the fourth quarter and beyond. The company also expects third quarter revenues to range from $56 million to $60 million and senior management’s outlook for fiscal year 2008 is a 35 percent increase over last year’s revenues.

QualityStocks Daily Video Report Features Uranium Hunter Corporation (URHN.OB), Midway Games (MWY) and Remote Dynamics (RDYM.OB) as Today’s Stocks to Watch

During the Tuesday, July 22, 2008 broadcast of the QualityStocks Report, Uranium Hunter Corporation (URHN.OB), Midway Games (NYSE: MWY) and Remote Dynamics (RDYM.OB) where highlighted as the day’s stocks to watch.

Uranium Hunter Corporation (URHN.OB) is a natural resource and uranium exploration company headquartered in Toronto, Canada that focuses on developing a portfolio of quality uranium exploration properties in East Africa. Uranium Hunter Corporation recorded 41,000 shares in trading volume earlier this week.

Another featured stock, Midway Games (NYSE: MWY), a leading developer and publisher of interactive entertainment software for major video game systems and personal computers, recently climbed 34.47 percent on volume exceeding 416,000 shares.

The third stock featured in today’s report was Remote Dynamics (RDYM.OB), a provider of patented state-of-the-art mobile resource management solutions that generate higher customer revenues, enhanced operator efficiency and improved cost control. Remote Dynamics’ trading volume recently spiked with more than 165 million shares traded.

The QualityStocks Daily Video Report, produced daily Monday through Friday, provides market headlines and news for small caps, large caps and everything in between. To view today’s QualityStocks Daily Video Report or to watch past reports in the archives

Patriot Energy Corp. (PGYC.PK) dba TelTeck Solutions, Inc. Offers Several Options for Telematics Solutions

TelTeck Solutions is a serious player in the high-security telematics technology industry. An area where TelTeck excels is the integration of secured information with an event management platform that can be customized for each unique customer’s needs. The goal of any company’s telematic strategy is meeting compliance regulations and achieving effective information security, and that is precisely what TelTeck offers to companies. The three devices profiled below provide secured solutions to three different industries that can save time, money and even lives.

The L-Device is specifically designed for emergency service workers such as police, paramedics and firemen. It is used to manipulate traffic lights to help emergency vehicle operators travel easily through areas where the system has been implemented. Manipulation of lights has been tested and proven to drastically reduce the time needed to respond to emergency situations. The system is highly secure and cannot be used or abused by those who should not have access to it.
The VM-Device is targeted toward the owners and managers of vending machines.