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Western Standard Energy Corp.
Symbol:  WSEG


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Business Summary: Western Standard Energy Corp., an exploration stage company, engages in the acquisition and exploration of prospective oil and gas properties in the United States.
 
Address
  2 Sheraton Street
  London , England W1K 3AJ
  Phone: 44-207-479-4800
  Website: http://www.western-standard.com
Auditor
  Dale Matheson Carr-Hilton Labonte
Transfer Agent
  Nevada Agency & Trust Co.
ShareHolders:  23
Founded:  2005
Domicile:  Nevada
 
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Western Standard Energy Corp.
Symbol:  WSEG


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Western Standard Energy Corp., an exploration stage company, engages in the acquisition and exploration of prospective oil and gas properties in the United States. The company owns interest in the Starbuck shallow gas prospects covering approximately 42,000 acres located in the Valley County, Montana. It also holds interests in the Lodgepole Reef oil prospects located in Stark County and Slope County, North Dakota. The company was founded in 2003 and is headquartered in London, the United Kingdom.
History:  INCORPORATED in Nevada Feb. 2, 2005 as Comtrix Inc.; and on June 23, 2006, merged Lusora Corp. (a Nevada corporation incorporated on May 10, 2006), and changed its name to Lusora Healthcare Systems Inc. Name changed to Western Standard Energy Corp. Sept. 7, 2007, through merger of a subsidiary. November 29, 2006, issued 28.2 million Common shares to acquire 93.8% of Lusora Inc. in a share-for-share exchange. Privately owned Lusora Inc. was incorporated in Nevada Oct. 16, 2003 as Cellular Security & Surveillance Inc., and changed its name to Lusora Inc. on Mar. 3, 2006.
 
Subsidiaries:
Western Standard Energy Limited
 
 
 
 
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Western Standard Energy Corp.
Symbol:  WSEG


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Management
OfficersPosition
 Dan  BauerPresident, Secretary, Treasurer, Chief Executive Officer & Investor Relations Contact
 Julian  LeeChief Financial Officer & Chief Accounting Officer
 Derek James Victor BarberChief Technology Officer
 Gary  CountrymanSR VP

Directors
 Dan  Bauer
 Julian  Lee
 
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Western Standard Energy Corp.
Symbol:  WSEG


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Capitalization as of 08/31/2007:
 
 Authorized SharesOutstanding Shares
Common $0.001 par2,812,500,00088,360,133so1
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  12/13/2007, 23.
PRINCIPAL STOCKHOLDERS: December 13, 2007, Dan Bauer owned or controlled 32.5% of the Common and Joseph Bauer 13.3%.
 
Transfer Agent:  Nevada Agency & Trust Co.   Reno , NV
 
OTC Bulletin Board( Primary): WSEG
 
ExchangeYearHighLow
OTC Bulletin Board20070.70000.3000
OTC Bulletin Board20062.48000.9850
 
DIVIDENDS: Common $0.001 par: No cash. Common split 25-for-1, June 23, 2006. Common split 1.5-for-1, Sept. 7, 2007. Common $0.001 par was split 3-for-2, ex-Sep. 7, 2007.
 
 
  so1Adjtd. for 1.5-for-1 split Sept. 7, 2007.
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Western Standard Energy Corp.
Symbol:  WSEG


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Annual Report
 
Income Statement
  20072006
OPERATING EXPENSES
Audit and accounting fees$64,906$10,405
Depreciation3,8692,776
Foreign exchange loss1,0631,141
Interest expense7,06910,157
Interest income(2,528)(281)
Investor relations and transfer agent134,629359
Legal fees66,39330,513
Write-off of equipment5,860--
Marketing and product promotion8,5001,966
Office and general administration94,10713,129
Product development281,783159,657
Salaries and management fees399,001106,954
Travel and entertainment66,474--
Web and graphic design32,552--
NET LOSS ($1,163,678)($336,776)
BASIC AND DILUTED NET LOSS PER SHARE($0.03)($0.01)
WEIGHTED AVERAGE COMMON SHARES45,543,93145,112,500
 
Balance Sheet
  20072006
ASSETS
CURRENT ASSETS
Cash$3,475$90,994
Other receivables--4,400
Prepaid expenses3,551220
TOTAL CURRENT ASSETS7,02695,614
RESTRICTED CASH--9,561
OIL AND GAS PROPERTY, unproven450,000--
EQUIPMENT, net1,3255,553
TOTAL ASSETS$458,351$110,728
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued liabilities$130,475$69,442
Due to related parties--118,680
TOTAL CURRENT LIABILITIES130,475188,122
STOCKHOLDERS' EQUITY (DEFICIT)
COMMON STOCK
Common stock, par value $0.00188,36031,000
ADDITIONAL PAID IN CAPITAL2,381,805870,217
DEFICIT ACCUMULATED DURING DEVELOPMENT STAGE(2,142,289)(978,611)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)327,876(77,394)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)$458,351$110,728
Common Shares Issued88,360,13345,112,500
 
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Western Standard Energy Corp.
Symbol:  WSEG


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Interim Report   
 
Data Not Available
 
 
 
 
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Western Standard Energy Corp.
Symbol:  WSEG


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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Western Standard Energy Corp.
Symbol:  WSEG


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2007   Full Year Nil
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1(230,000)
  2008   2(190,000)
  2008   3(430,000)
  2007   Full Year (1,160,000)
  2006   Full Year (340,000)
  2005   Full Year (490,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2007   Full Year (.02)
  2005   Full Year (.01)
 
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