As we first reported in October 2012, former Ozzy Osbourne and Badlands guitarist Jake E. Lee is in the midst of returning to active duty.

Lee is reportedly in the studio now working on a new album that should — with any luck — be out later this year. The new project, Jake E. Lee’s Red Dragon Cartel, features Ronnie Mancuso (Beggars and Thieves) on bass and Jonas Fairley (Black Betty) on drums. A vocalist hasn't been chosen yet, but a formal announcement is expected soon.

The album will feature guest appearances by several vocalists, including Robin Zander of Cheap Trick, Sass Jordan of S.U.N. and maybe even original Iron Maiden vocalist Paul DiAnno. The still-untitled album is being recorded at producer Kevin Churko's The Hideout Studios in Las Vegas. Churko worked on Osbourne's last two albums, Scream and Black Rain.

”The two new tracks I have heard are very impressive and are incredibly fresh sounding — but not really in the same family as [Jake's] work with Badlands or Ozzy," Michael Toney, author of a new book, Tales From the Stage, Vol. 1, told eddietrunk.com recently. "It’s still hard rock, but perhaps a bit more melodic.”

Lee's last album was Retraced, his 2005 collection of covers, which included powerful covers of songs by Procul Harum, James Gang, Grand Funk Railroad, Robin Trower, Montrose and others.

Lee recently made an appearance in the music video for Beggars & Thieves' "We Come Undone." Check it out below. Look for more updates as we get them!