Standard Exploration Ltd. announced on November 21, 2012 that it had drilled the first of two wells as per its previously-stated commitment. The company announced that operations have commenced on the second well and that the Standard is on track to meet its flow- through obligations prior to December 31, 2012.

The company announced that it has accepted the resignations of Mr. Stan Grad and Mr. Grant Wierzba from its board of directors. The company will not be seeking replacements for the departing directors.