New Western Energy Corp. Signs Agreement With Petroleum Energy Management Co. to Oversee Operations at the Phillips Lease

IRVINE, Calif., Oct. 26, 2011 /PRNewswire/ -- New Western Energy Corp. (Pink Sheets: NWTR), an independent energy company engaged in the development, production and exploration of oil, gas and other minerals in North America, today announced that it has signed an operating agreement with Petroleum Energy Management Co. ("PEMCO") to oversee operations at the Company's Phillips Lease. The Company owns a 75 percent net working interest in the Phillips Lease, a 150-acre, seven-well re-completion project i...continued NWTR

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