New Western Energy Corp. Commences Work-Over Program on the Trice Lease
09 Apr, 2012, 09:00 ET
IRVINE, Calif., April 9, 2012 /PRNewswire/ -- New Western Energy Corp. (OTCBB: NWTR), an independent energy company engaged in the development, production and exploration of oil, gas and other minerals in North America, today announced that its wholly-owned subsidiary, Royal Texan Energy Co. has commenced a work-over program on four wells on the Trice Lease in Shackelford County, Texas.
The Company acquired the 580-acre Trice Lease in January as part of our acquisition of Royal Texan Energy Co. There are currently 24 oil wells, and six water injection wells on the Trice Lease. All the wells on the Trice Lease are in the King Sand formation, which is a series of sandstone channels producing from depths of between 500 ft. and 700 ft.
The current work-over program will focus on wells #1, #3, #16 and #18. Servicing the existing wells will require a change to the well head on #16, running electricity and setting the pump jack for #3, and changing the down hole pumps on all four wells.
"The goal of this work-over program is to increase the rate of production at Trice without incurring heavy costs associated with drilling new wells," said Javan Khazali, President of New Western Energy Corp. "Production resulting from this work-over program would have a positive impact on our cash flow."
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.
SOURCE New Western Energy Corp.
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