IRVINE, Calif., Jan. 17, 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 minerals primarily in North America, today announced it has begun development operations on its Anna Lease property located in Rogers County, Oklahoma, comprised of 80 acres, 9 Oil Wells and 1 disposable well. The company is also pleased to announce hiring Stacey Holland, of Holland Lease Services, as Field Manager, who will oversee all field operations in Rogers County. Our development efforts will be focused on bringing existing wells online, refreshing wells and testing flowing wells, among other production-based activities.
"We are extremely pleased to begin development work on the Anna Lease property and to bring on the talents of Stacey Holland who has over 20 years of experience in well pulling, completions, pumping, well testing and welding. He will serve as our field operations manager overseeing all leases on Rogers County," said Javan Khazali, President and CEO of New Western Energy Corp."
The Anna Lease, part of New Western's recent acquisition of 8 Oil and Gas Leases totaling 1,520 acres, with 106 Oil Wells and 8 Disposal Wells in Rogers County, OK is part of the Bartlesville Sand formation whose subsurface is approximately equivalent to the Bluejacket sandstone of surface terminology, which is continuous with the lowermost sandstone zone of the Boggy formation and lies just below the middle of the "Cherokee" shale. Where productive of oil, the Bartlesville is a uniformly sorted, angular, micaceous sand which at many places contains thin shale partings. It is lenticular and locally grades into shale. For this reason, the cleaner parts constitute very productive stratigraphic traps. The sand also produces on top of closed structures. The Bartlesville attains a thickness of 120 feet in some localities but probably does not average more than 40 feet over much of the county.
The Bartlesville probably has produced more oil in Rogers County than all other sands taken together. The average recovery per acre is approximately 3,500 barrels. Although this is not a high recovery per acre, the productive area is large and in aggregate a great amount of oil has been produced from the Bartlesville sand formation in the area.
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.