This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

New Western Energy Corp. Completes Acquisition Of 500-Acre Contiguous To B & W Ranch, Smith And Its Fields Oil And Gas Leases In Kansas

IRVINE, Calif., March 28, 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, today announced that it has completed the acquisition of 500-acre Rinck Lease in Chautauqua County, Kansas. Subsequent to this strategic acquisition, the Company's combined leasehold area in Kansas is currently over 3050 acres.

The Rinck Lease is contiguous to the Company's existing B & W, Smith and Fields Leases, which are 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. In the northern part of this district, as in the Cherokee basin, the emphasis is on Cherokee (Pennsylvanian) sand reservoirs. Here the strata are dipping westward so that the depths to these reservoirs become greater from east to west. In the southern part of the Chautauqua Arch, the greater part of the production comes from pre-Pennsylvanian reservoirs.

The reservoir rock is the Weiser Sands and some Wayside Sands, which also lies within the Pennsylvanian Cherokee shale. Among the famous producing sands with the Cherokee Shale are the Iola Sands, Layton Sands, Redd Sands, Wayside Sands, Weiser Sands, Oswego Lime, Mississippi Chat, Mulky Shale and the well-known Arbuckle. The production strategy of current oil & gas companies in the region has been the production of Mulky Shale gas and some Weiser oil.

"This acquisition enhances the Company's already established footprint in the Chautauqua Arch and we are aggressively pursuing a strategy to acquire additional leaseholds with proven oil & gas reserves," said Javan Khazali, President and CEO of New Western Energy Corp. "Furthermore, our close proximity to our existing B & W, Smith and Fields Lease will allow us to capture synergies in both cost savings and production growth during the exploration and development phase of these Oil & Gas Leases."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs