NWTR: The appointment of a field manager for the Oklahoma operations suggest that existing oil and gas well completion operations will commence soon. For additional research on small-cap stocks, please visit scr.zacks.com.
By Ian Gilson, CFA
On January 17, 2013 New Western Energy (OTC BB:NWTR) announced it has started the development operations on its Anna lease properties in Rogers County OK. There are 9 existing oil wells and one disposal well on the 80 acres on the lease, which is part of the 1,520 acres recently purchased.
All of the field operations in Rogers County will be managed by Stacey Holland, a 20 year veteran off oil field operations. Mr. Holland will be working with Mr. Coody, who was recently hired as manager of the Oklahoma and Kansas operations.
These actions are moving the company from a lease acquisition mode into a well development mode, leading towards significant hydrocarbon production in 2013. We would anticipate some production from this acreage in late 2013.
For additional research on small-cap stocks, please visit scr.zacks.com.
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