Irvine, Calif., March 8, 2011
New Western Texas Oil and Gas Corp., a wholly owned subsidiary of New Western Energy Corp., today announced that drilling operations have commenced on the Swenson #1 well at the Swenson Lease in Jones County, Texas.
Swenson #1 was drilled to a total depth of 2048 Â feet in order to evaluate the Gunsight Lime, and Flippen, and Swastika Sands. It has taken our joint venture partner, 3-M Production, a total of 3 days to reach the total depth. Prospective oil shows will be evaluated in the next several weeks.
The Gunsight Lime on the Swenson and surrounding leases is a carbonate deposit that has been extended structurally from the carbonate structural high that developed northeast of the adjoining Reeves land. More than 16,000 barrels of oil have been produced from the Gunsight Lime formation from the Reeves lease.
“We have been working diligently toward drilling at Swenson #1, and are excited that drilling operations on our newest lease have commenced ahead of schedule,” said Javan Khazali, President of New Western Energy Corp. “The Swenson Lease is surrounded by wells with a history of successful production, and we are expecting to receive prospective oil shows from this initial drilling in the coming weeks.”
Click here to see photos from the first three days of drilling at the Swenson Lease.
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.
Irvine, Calif., January 27, 2011
New Western Energy Corp., an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and minerals in North America, today announced that the Company’s wholly owned subsidiary, New Western Texas Oil and Gas Corp., acquired a net working interest in the Swenson Lease in Jones County, Texas.
The 160-acre Swenson Lease is surrounded by wells with a history of oil production. The Griffin Field (located 3/4 miles west of the prospect area), and the Iron Mountain-Avoca Pool Field (located 1/2 mile northeast of the prospect area)Â have produced approximately 19.6 million barrels of oil combined. These fields are still in production today. The Jones County Regular Field (located 1000 feet from the prospect area) produced 40,578 barrels of oil.
“The Swenson Lease is located in an area that is known for successful oil production,” said Haris Baha, President of New Western Texas Oil and Gas Corp. “All of the elements for oil production are present on the property, and we intend on commencing an initial drilling program on the property in the next several months.”
Our partner in this venture is 3-M Production, based near Abilene, Texas. 3-M has more than a decade of hands-on experience in oil field operations. Along with well operations, 3-M has owned a roustabout company and a pulling unit company that has given them great oilfield knowledge. 3-M is currently the owner/operators of 15 leases and 42 wells in Shackelford and Stephens County, Texas.
The Company is also planning to drill an initial test well in the next several months to a depth efficient enough to determine the sand and rock formation of the area. At least one additional well on the Swenson Lease and possibly one well to the south will be needed in order to complete the drainage of the oil field.
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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SEC Filings
| 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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