Las Vegas, NV -- (SBWIRE) -- 01/14/2013 -- New Western Energy Corp (OTC:NWTR) is engaged in the acquisition, exploration, development, and production of oil, gas, and mineral properties. The company’s projects are located in Oklahoma, Kansas, and Texas.
The stock made an explosive move up in December from a start point of around $0.50 the stock saw recent highs of $1.13 Since then NWTR has dropped significantly and currently trades well under the $0.75 mark. The stock made an explosive move up on massive volume due to an aggressive multi-million dollar stock promotion by pennytrackers and many others.
On January 3 NWTR announced that it has completed the acquisition of 8 Oil and Gas Leases totaling 1,520 acres, with 106 Oil Wells and 8 Disposal Wells in Rogers County, OK, from Pioneer Oil Development LLC. New Western intends to provide the development funds necessary to bring in to production the existing wells, as well as the drilling of additional wells upon completion of the work overs.
Javan Khazali, President and CEO of New Western Energy Corp said that "Completing these lease acquisitions furthers our strategic footprint in the highly productive region of Rogers County, OK, adding to our existing 80 acre Glass Lease and our 180 acre Phillips Lease."
OTCMAGIC has recently published a new article on New Western Energy that goes more into detail on what is really happening. To find out what OTCMAGIC projects for NWTR both short term and long term please visit our article here: NWTR
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