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New Western Closes Its $650,000.00 Drilling Program

Source: www.gulfoilandgas.com 4/4/2013, Location: North America

New Western Energy Corp. an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas and other minerals in North America, announced that it has closed the 2013 NWE Drilling Program 1 LP. The 2013 NWE Drilling Program 1 LP, a limited partnership, of which New Western Energy Corp. is the General Partner and owns 51%, closed with a $650,000 funding.

The partnership is primarily focused on drilling wells on its B&W Ranch lease in Chautauqua County Kansas, which is part of over 3000 contiguous acres leases owned by New Western and contains 5 possible payzones that its engineering report identified as the Wayside, Cattlemen, Weiser, Mississippian and Arbuckle zones. The NWE Drilling Program 1 LP will begin a 3 well drilling program.

"With the closing of the 2013 NWE Drilling Program 1 LP, we are encouraged by this form of financing and we intend to seek similar avenues of financing to develop our other leases and to acquire producing oil and gas wells. We are excited to close the NWE Drilling Program 1 LP and execute on our plan," said Javan Khazali, President and CEO of New Western Energy Corp.

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