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.
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