New Western Energy Corp. Announces Agreement with Carroll Energy, LLC

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Irvine, Calif., April 25, 2012

New Western Energy Corp. (OTCBB: NWTR) an independent energy company engaged in the exploration, development, and production of oil, gas and other minerals in North America, today announced that it has signed an agreement with Carroll Energy, LLC (“Carroll Energy”), a Kansas based company with over 30 years of experience in the Oil & Gas sector.

Carroll Energy’s initial focus will be to prepare engineering, reserves and geological reports on  the Company’s 1,700-acre B&W Ranch Oil & Gas lease, which is the Company’s largest leasehold to date, and has the potential for numerous oil and gas discoveries. The studies will include but are not limited to: recovery and reserves analysis, geological evaluations, reservoir mapping, historical production analysis, and log interpretations. Further, the studies will give recommendations on the proposed budgets, address environmental concerns, provide safety guidelines and layout preliminary drilling programs and prepare production schedule.

As previously announced, the B&W Ranch Oil & Gas lease is located in the Chautauqua Arch. To the south, the Central Oklahoma platform merges with the Cherokee basin of southeastern Kansas, in which some of the first commercial oil and gas discoveries for the mid-continent region were made. The reservoir rock on the Lease is comprised of the Weiser Sands and some Wayside. Prospect formations are at depths of less than 2,000 ft. with most located between 600ft. and 1,400ft. Among the famous producing sands in this region are Iola Sands, Layton Sands, Redd Sands, Wayside, Weiser Sands, Oswego Lime, Mississippi Chat, Mulky Shale, and Arbuckle. The objective of this project has been to exploit the Mulky Shale gas and Weiser oil. The depositional environment on the leasehold is considered as fluvial-dominated deltaic system.

“The Company is quite confident on the positive outcome of this study as there is potential for discovery of three to four oil formations, as well as three to four gas formations throughout the lease,” said Javan Khazali, President. “Both of the production zones are between 600 ft. and 1,400 feet, which provides economical drilling costs to the Company.”

About Carroll Energy, LLC

Carroll Energy, LLC, Independence, Kansas, is a family-owned company with over 30 years of experience in the oil and gas industry led by Terry Carroll Sr. who has supervised and provided daily management and operations for numerous oil and gas companies, partnerships and private investors involved in the drilling and completing of thousands of wells, constructing, operating, and maintaining hundreds of miles of natural gas gathering pipeline, compression and dehydration facilities, cumulatively producing more than 15 BCF of gas and 750,000 BBLs of oil.

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 minerals primarily in North America. To learn more about the Company, visit: www.newwesternenergy.com.

Notice Regarding Forward-Looking Statements

This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated production. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

New Western Energy Corp. commences work-over program on the Trice Lease

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Irvine, Calif., April 9, 2012

New Western Energy Corp. (OTCBB: NWTR), an independent energy company engaged in the development, production and exploration of oil, gas and other minerals in North America, today announced that its wholly-owned subsidiary, Royal Texan Energy Co. has commenced a work-over program on four wells on the Trice Lease in Shackelford County, Texas.

The Company acquired the 580-acre Trice Lease in January as part of our acquisition of Royal Texan Energy Co.  There are currently 24 oil wells, and six water injection wells on the Trice Lease. All the wells on the Trice Lease are in the King Sand formation, which is a series of sandstone channels producing from depths of between 500 ft. and 700 ft.

The current work-over program will focus on wells #1, #3, #16 and #18. Servicing the existing wells will require a change to the well head on #16,  running electricity and setting the pump jack for #3, and changing the down hole pumps on all four wells.

“The goal of this work-over program is to increase the rate of production at Trice without incurring heavy costs associated with drilling new wells” said Javan Khazali, President of New Western Energy Corp.  ”Production resulting from this work-over program would have a positive impact on our cash flow.”

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 minerals primarily in North America.

Notice Regarding Forward-Looking Statements

This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated production. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable,  there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

New Western Energy Corp. reports financial results for 2011

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Irvine, Calif., April 4, 2012

New Western Energy Corp. (OTCBB: NWTR), an independent energy company engaged in the development, production and exploration of oil, gas and other minerals in North America today announced financial results for 2011.

“Last year was characterized by growth, cost-cutting and expansion,” said Javan Khazali, President of New Western Energy Corp. “In addition to increasing production, the Company was successful in reducing its expenses, and acquiring new leases in areas known for oil and gas production.”

Net revenues for 2011 increased 710 percent to $78,544, compared to $9,687 in net revenues for the previous year. Operating expenses for 2011 decreased 59 percent to $332,418, compared to $815,716 for the comparable period in 2010. As a result of the increase in revenue and decrease in operating expenses, the Company’s net loss for 2011 decreased 53 percent to $378,453, compared to a net loss of $809,846 in 2010.

The Company also achieved several key operational milestones in 2011 including: the signing of an operating agreement with Petroleum Energy Management Co. to oversee operations at the Phillips and Glass leaseholds in Rogers County, Oklahoma; and the acquisition of three new oil and gas leases in Texas, and one new oil and gas lease in Kansas.

“We are optimistic that 2012 will be another year of growth for the Company,” Khazali said. “In addition to making progress on our existing leaseholds and expanding our land position, we recently completed the acquisition of Royal Texan Energy Co., which is now a wholly-owned subsidiary of New Western Energy. Royal Texan owns oil and gas leases covering approximately 1,280 acres in Shackelford and Stephens County, Texas, and has served as our operator and joint venture partner on the Swenson Lease in Jones County, Texas, since we acquired the project in January 2011. The acquisition of Royal Texan provides New Western with additional equipment, expertise and manpower to maximize the value of our projects in Texas, while decreasing operational costs and strengthening our exploration program. We are also in the process of evaluating several engineering firms to determine the best pay zones to drill on our newly acquired, 1,700-acre oil and gas lease in Kansas.”

A detailed report of the Company’s financial results is available on the Company’s Web site and on www.sec.gov.

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 minerals primarily in North America.

Notice Regarding Forward-Looking Statements

This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated production. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. 

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Date Filed Filing  Files 
3/30/2012 10-K | |
11/14/2011 10-Q | |
11/2/2011 10-Q/A | |
8/15/2011 10-Q | |

All SEC filings.


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