Mar30
Irvine, Calif., March 30, 2010
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil and gas in North America, today announced that the Company has retained Salberg & Company, P.A. as its independent auditor. Salberg & Company will immediately initiate an audit of New Western Energy and its operations with the results to be included with the Company’s filings with the SEC.
“The Company has been working diligently for months to organize all of the corporate and financial information to become a fully reporting company in compliance with the SEC requirements,” said Javan Khazali, President of New Western Energy Corp. “We are pleased to announce our relationship with Salberg & Company. They have a great reputation and a track record of helping companies like New Western Energy.”
Salberg & Company, P.A. is a PCAOB registered certified public accounting firm focused on providing high-quality services to a wide range of publicly-held companies and securities broker/dealers.
About New Western Energy Corp.
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Mar24
New Western Energy commences with horizontal jet drilling activities to optimize production from the Doshier Lease
No Comments »Irvine, Calif., March 24, 2010
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil and gas in North America, today announced that it has commenced with radial jet drilling activities on two of the seven wells on the Doshier Lease in Nowata County, Okla.
“Utilizing radial jet drilling lowers our well operating costs, and allows us to efficiently, and economically recover previously unrecoverable oil,” said Javan Khazali, President of New Western Energy.
The process involves cutting multiple lateral legs via a “radial jet” technology, which is a patented process that has enjoyed much success in various locations to improve oil production of existing oil and gas wells. This drilling method will help the Company economically extract more oil and gas from working wells using a highly advanced oil production system, which is even more cost effective compared to traditional oil production technologies. Radial jet enhancement targets the existing oil and gas wells in North America that are 6,000 feet deep and shallower, and includes horizontal laterals to consistently improve oil recovery.
Radial jet enhancement has made it feasible to enhance production from more than 1.7 million wells that would otherwise be cost prohibitive to recover.
The Doshier Lease is comprised of 7 wells currently in production, or under development, and spans 80-acres in an area surrounded by many producing oil leases. The Company owns a 75 percent net working interest in the Doshier Lease with a right of first refusal to purchase an additional 75 percent in all future wells developed by RC Oil, which RC Oil presently owns.
About New Western Energy Corp.
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Feb04
Irvine, CA, February 4, 2010
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil and gas in North America, today announced that it expects full output capacity at all 14 wells on the Glass Lease in Rogers County, Oklahoma.
“Our joint venture partner RC Oil Company, Inc. recently secured a lease that is adjacent to the Glass Lease,” said Javan Khazali, Chief Executive Officer of New Western Energy Corp. “This new land acquisition allows New Western to optimize its water injection capabilities and increase production in all of our 14 wells to their full capacity.”
The Glass Lease spans 120-acres in Rogers County, Oklahoma. The Bartlesville formation oil is found in numerous places in this county at a depth of not more than five hundred feet, and some of the wells drilled fifteen or twenty years ago are still producing oil. This section of the state is what oil men call a “shallow” field, for the reason that oil is found much nearer the surface than in most other localities. Some of the wells drilled 15 or 20 years ago are still producing oil.
New Western owns 100 percent working interest with 75 percent net working interest (NRI) in 14 wells on the property through a joint venture with RC Oil Company, Inc.
Further development and production of the lease will consist of a combination of primary and secondary recovery. Secondary recovery efforts will include water flood, acid frac, and other stimulation procedures to re-pressure existing formations, and increase production.
About New Western Energy Corp.
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil and gas primarily in North America.
Oct08
Irvine, Calif., October 8, 2009
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal in North America, today announced a joint venture agreement with RC Oil Co., Inc. to acquire a 75 percent net working interest (NRI) in the Doshier Lease, in Nowata County, Okla.
The Doshier Lease is comprised of 7 wells currently in production, or under development, and spans 80-acres in an area surrounded by many producing oil leases. The Company owns a 75 percent net working interest in the Doshier Lease with a right of first refusal to purchase an additional 75 percent in all future wells developed by RC Oil, which RC Oil presently owns.
“To date, very little oil has been extracted from the wells in this program, and we believe that there are substantial oil reserves available on the property,” said Javan Khazali, President of New Western Energy.
Each well on the property has a history of great production. Although production at the Doshier Lease flowed naturally and did not require any secondary treatments, the Company is planning additional treatments such as acid frac, sand frac or gas gun treatment to further enhance production.
About New Western Energy Corp.
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Sep09
Irvine, Calif., September 9, 2009
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal in North America, today acquired a 75 percent net working interest (NRI) through a joint venture with RC Oil Co. Inc. in the Ward Lease, a two (2) well re‐completion project located on 80 acres +/‐ lease in Rogers County, Oklahoma.
The Company has also been extended the option for an additional 500 acres for an additional drilling program which may offer opportunities for drilling between 20 and 30 wells in the future.
The project is a re‐completion project with plans to produce the Burgess formation. The lease is located in an area surrounded by proven and long lasting production. Each well on the Ward Lease has the potential for producing more than 2 barrels per-day.
In addition to re‐working and re‐completing the wells, we plan an acid frac, sand frac, or gas gun stimulation treatment for each well in this program, which will greatly enhance our daily production. Each of the wells in this project could prove very productive and provide many productive years.
About New Western Energy Corp.
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Jul20
Irvine, Calif., July 20, 2009
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal in North America, today announced that operators have commenced treatment of the 14 wells at the Glass Lease in Rogers County, Okla.
Each well is currently being evaluated for acid frac, sand frac or treatment with a gas gun stimulation procedure. Engineers will set forth the procedures that they deem appropriate for each well to optimize production.
The Glass Lease is located on 120-acres in Rogers County, Okla. The 14 wells in the lease were put into production in June 2009. New Western Energy owns 75 percent of the net revenue interest (NRI) in the Glass leaseholds. New Western Energy also received a right of first refusal to purchase an additional 75 percent NRI in all future wells developed by its joint venture partner, RC Oil Company, Inc., which RC Oil Co.presently owns.
Further development and production of the lease will consist of a combination of primary and secondary recovery. Secondary recovery efforts will include water flood and the use of an NCO2 machine to re-pressure existing formations and increase production.
About New Western Energy Corp.
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Jun30
Irvine, Calif., June 30, 2009
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal in North America, today provided the following update on corporate and operational activity at the Glass Lease in Rogers County, Okla.
Operators have pulled the remaining 7 wells at the Glass Lease, bringing all 14 wells into production. In addition, some of the pumping units were replaced to maximize production from each well. Operators have also completed the plumbing of the tank battery and reworking of the electrical and flow line systems, so that power is distributed to all 14 wells.
“We are very encouraged by how quickly we were able to bring the wells at the Glass Lease into production,” said Javan Khazali, Chief Executive Officer of New Western Energy Corp. “Production from the Glass Lease should begin generating a steady stream of operating cash flow for New Western within the next 30-60 days.”
Operators are currently in the process of scheduling oil treatment processes including acid frac, sand frac, or treatment with a gas gun stimulation procedure. Engineers will set forth procedures that they deem appropriate for each well.
About New Western Energy Corporation
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Jun29
Irvine, Calif., June 29, 2009
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal in North America, today announced that it has negotiated the rights to acquire a land lease for a property near Middlebury Township in Tioga County, Penn.
“The Wellsboro Lease is a world-class property with several potential revenue streams,” said Javan Khazali, President of New Western Energy Corp.
The lease includes approximately 23-acres located on a glacial aged kame terrace. According to a 1985 study, the property was inferred to contain roughly 900,000 cubic yards of borrow material. The terrace sands, gravels and finer sediments were deposited in response to blockage by glacial ice. The potential usable deposit conceivably may be significantly larger. However, detailed closely spaced drilling and testing would be required to determine the bottom configuration to prove reserves. The study also corroborated the field observation that the deposit is well-graded, without dominance of any size fraction.
This property is also believed to be part of the Marcellus Shale formation that has shown favorable characteristics for the discovery of a large reserve of natural gas. Pennsylvania’s Marcellus shale natural gas producers operate approximately 50,000 wells to deliver more than 158 billion cubic feet of gas to the market.
Pennsylvania independents produce enough natural gas to satisfy approximately 25 percent of the state’s annual demand. Pennsylvania consumes more than 660billion cubic feet of natural gas every year, and has an estimated 2.8 trillion cubic feet of proved natural gas reserves in the ground awaiting development. Natural gas is produced in all 31 counties in Pennsylvania.
About New Western Energy Corporation
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Jun27
Irvine, Calif., June 27, 2009
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal in North America today announced that it has signed a joint venture agreement with RC Oil Company, Inc. to acquire a working interest in 7 wells on a 180-acre leasehold in Rogers County, Okla.
“The Phillips Lease is similar to the Glass Lease that we announced last month,” said Javan Khazali, President of New Western Energy Corp. “All of the wells are shallow, and the property is adjacent to other properties, which have a long history of oil production.”
Under the terms of the joint venture agreement, New Western Energy acquired a 75 percent net working interest (NRI) in the Phillips Lease, a seven-well re-completion project that includes one salt water injection well. Similar to the Glass Lease, the Phillips Lease is a re-completion projects with plans to produce the Bartlesville formation. According to our joint venture partner, each of the seven wells are scheduled to be in production by the end of July 2009, and should produce more than two barrels per day. This eliminates risk normally associated with new drills.
The earliest discovery of oil in Rogers County was made about thirty years ago. Oil is found in numerous places in this county at a depth not exceeding 500 feet. Many of the wells that were drilled 15-20 years ago are still producing oil. Oil in this section of the state is found much nearer the surface than in most other localities. Profitable wells have been drilled in the extreme northern part of the county, central part of the county, and in the extreme southern part. Opportunities for casing-head gasoline from the gas which is given off from the oil exist, as well. This is potentially additional source of revenue, as formerly this gas was allowed to escape through the atmosphere.
In addition to re-working and re-completing the wells, we are planning an acid frac, sand frac, or gas gun stimulation treatment for each well in this program, which we anticipate will enhance our daily production. Additionally, with 180 acres to work with, the Phillips Lease offers a number of outstanding drilling opportunities and substantial reserves.
About New Western Energy Corporation
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
Jun10
Irvine, Calif., June 10, 2009
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and coal in North America, today provided the following update on corporate and operational activity at the Glass Lease in Rogers County, Okla.
To date, operators have pulled 7 of the 14 wells, and expect to have an additional 4 wells to go on pump within the next several days. Two of the wells that were pulled have flowed oil, and the other five wells were full of oil to the top of the casing.
Operators are in the process of plumbing the tank battery and reworking the electrical and flow line systems, and expect to have power to the lease and a number of the wells pumping in the next several days. Operators are also in the process of permitting the proposed salt water injection well and will MIT test this well.
Plans to aggressively pump the wells until the flush production is recovered are scheduled to commence once all wells are on pump and the saltwater injection system is in place and functioning properly. At that time, and in conjunction with a plan set forth by petroleum engineers, operators will begin to treat each well with an acid frac, sand frac, or treatment with a gas gun stimulation procedure. Engineers will set forth the procedures that they deem appropriate for each well.
About New Western Energy Corporation
New Western Energy Corp. is an independent oil, gas and coal company engaged in the acquisition, development, production, and exploration of oil, gas and coal primarily in North America.
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