IRVINE, Calif., Aug. 2, 2013 (GLOBE NEWSWIRE) -- New Western Energy Corp. (OTCBB:NWTR), an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas and other minerals in North America is pleased to provide the following updates on its ten (10) oil and gas leases located in Rogers and Nowata County, Oklahoma, consisting of 1750 Acres with 125 wells and 10 disposable wells.
The Company has completed the infrastructure work on all leases including but not limited to road/site work, upgrading electric work on motors and panel boxes, construction and installation of tank batteries, piping work from wells to storage facility, casing work on the wells, mounting and testing metering equipment, and other preliminary rework on existing wells.
The leases consist of Winchester Lease 500 Acres with 10 wells and 1 Disposal well, Thomas Lease 450 Acres with 10 wells and 1 disposal well, Everett Lease 320 Acres with 61 wells and 2 disposal wells, Phillips Lease 150 Acres with 7 wells and 1 disposal well, Anna Lease 80 Acres with 9 wells and 1 disposal well, Glass lease 80 Acres with 12 wells and 1 disposal well, Jackson Lease 50 Acres with 4 wells and 1 disposal well, Kerrigan Lease 40 Acres with 3 wells and 1 disposal well, Acro/selby Lease 40 Acres with 5 wells, Jameson 40 Acres with 4 wells and 1 disposal well.
"We are more than satisfied with the overall progress of our development program in Oklahoma. When we consider the historical production from the Bartlesville Sand formation, which is one of the most reliable pay zones in our area of operation, we are very encouraged by the potential production increase from these leases. Our development efforts will continue to focus on bringing existing wells online, reworking of wells and testing flowing wells, among other production-based activities," said Javan Khazali, President and CEO of New Western Energy Corp.
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.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our Annual Report on Form 10-K and our other filings with the SEC at www.sec.gov or from us at New Western Energy Corp., 20 Truman, Suite 204 Irvine, CA 92620