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EX-10.1 - New Western Energy Corpexhibit10-1.pdf
EX-10.1 - New Western Energy Corpexhibit_10-1.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C., 20549

 

 

Form 8-K/A

 

Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of Earliest Event Reported):    October 26, 2011

 

 

NEW WESTERN ENERGY CORPORATION
(Exact Name of Registrant as Specified in its Charter)

 

 

Commission File Number: 0-54343

 

Nevada 26-3640580

(State or Other Jurisdiction of

Incorporation or Organization)

(I.R.S. Employer

Identification No.)

 

20 Truman, Suite 204

Irvine, CA 92620

(Address of Principal Executive Offices, Including Zip Code)

 

(949) 435-0977
(Registrant's Telephone Number, Including Area Code)

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17CFR240.14a-12)

 

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17CFR240.14d-2(b))

 

[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17CFR240.13e-4(c))

 

 

 

 

 
 

 

 

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

 

Information included in this Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). This information may involve known and unknown risks, uncertainties and other factors which may cause New Western Energy Corporation’s (“NWE”) actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe NEW’s future plans, strategies and expectations, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections or other expectations included in any forward-looking statements will come to pass. NEW’s actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, NWE undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

 

Section 1-Registrant’s Business and Operations

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On October 24, 2011, the Registrant entered into a Joint Venture Contract and Operating Agreement (the “Agreement”) with PEMCO, LLC, a non-affiliated third party, to oversee the Registrant’s operations at its Phillips Lease. Registrant owns a 75 percent net working interest in the Phillips Lease, which includes a 150 acres and a seven well re-completion project, in Rogers County, Oklahoma.

 

Registrant has agreed to pay its pro rata share (based on percentage ownership) of the expenses of operation and maintenance of the wells in addition to the same pro rata share of any work-over operation required for the wells, such as service or replacement parts, as needed.

 

A complete copy of the Agreement is attached hereto and made a part hereof, as Exhibit 10.1.

 

 

Item 9.01 Financial Statements and Exhibits.

     
  (c) Exhibits.
   

 

10.1  Joint Venture Contract and Operating Agreement dated October 24, 2011, between the Registrant and PEMCO, LLC.

 

 

Signature(s)

 

Pursuant to the Requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.

 

 

New Western Energy Corporation 

 

Date: December 12, 2011 By: /s/ Javan Khazali
   

     Javan Khazali

     President & Chief Executive Officer

 

 

 
 

 

Exhibit Index

 

Exhibit No.   Description

 

10.1   Joint Venture Contract and Operating Agreement dated October 24, 2011, between the Registrant and PEMCO, LLC.