16 Nov 2015quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $18 thousand and a net loss of $1.4 million for the period ended 2015-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Sept 2015capital raising announcement● NeutralMajor
On September 18, 2015 New Western granted an unnamed creditor, who is already a shareholder, options over 50,000,000 shares at a $0.00 exercise price (expiring September 18, 2020) in return for cancelling the 10% Secured Debenture of November 12, 2013 ($1,500,000 original amount) with all related interest and penalties and releasing its security. The claims released were valued at $2,000,000 for settlement; this clears the November 2013 debenture financing but could add up to 50 million new shares if the options are exercised, which would dilute existing holders.
20 Aug 2015substantial holder notice● Neutral
VIS VIRES GROUP, INC. EIN disclosed a new substantial New Western Energy Corp shareholding (9.99% of votes).
12 Aug 2015quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $15 thousand and a net loss of $410 thousand for the period ended 2015-06-30.
15 May 2015quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $45 thousand and a net loss of $624 thousand for the period ended 2015-03-31.
31 Mar 2015late filing notice▼ Bad
New Western Energy Corp notified the SEC that its annual report would be filed late.
17 Nov 2014quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $132 thousand and a net loss of $270 thousand for the period ended 2014-09-30.
14 Nov 2014late filing notice▼ Bad
New Western Energy Corp notified the SEC that its quarterly report would be filed late.
9 Sept 2014asset acquisition disposition▲ GoodMajor
On September 5, 2014 New Western sold two Wilson County, Kansas leases to an unrelated purchaser who had taken over the $1,040,000 owed to Hillair Capital, and the debt was cancelled in exchange. The company says this removed $1,040,000 of debt and produced a gain on the sale; the press release adds that the leases were bought in December 2013 for $470,000 and that Hillair's first-priority security over company assets is cancelled.
19 Aug 2014quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $111 thousand and a net loss of $483 thousand for the period ended 2014-06-30.
14 Aug 2014late filing notice▼ Bad
New Western Energy Corp notified the SEC that its quarterly report would be filed late.
11 June 2014agm notice● Neutral
New Western Energy Corp shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
30 May 2014agm notice● Neutral
New Western Energy Corp shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
19 May 2014quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $71 thousand and a net loss of $1.4 million for the period ended 2014-03-31.
15 May 2014late filing notice▼ Bad
New Western Energy Corp notified the SEC that its quarterly report would be filed late.
30 Apr 2014material agreement▼ BadMajor
On April 30, 2014 New Western and Legend Oil and Gas mutually terminated their January 2014 merger agreement, with no further liability on either side. This ends the Legend acquisition thread; the company says it will keep looking at other acquisitions, and the filing gives no reason for the termination.
31 Mar 2014late filing notice▼ Bad
New Western Energy Corp notified the SEC that its annual report would be filed late.
27 Jan 2014business combination▲ GoodMajor
On January 23, 2014 New Western agreed to acquire Legend Oil and Gas Ltd. through a merger, issuing one New Western share for every three Legend shares (about 40.9 million shares in total), with closing expected in the second quarter of 2014. It needed Legend shareholder approval and an SEC registration statement, and would add Legend's Canadian production (about 117 barrels of oil equivalent a day) and Kansas properties.
6 Dec 2013asset acquisition disposition▲ Good
On December 2, 2013 New Western bought the 80-acre Winchester II lease in Rogers County, Oklahoma from Tenoak Oil Co. LLC for $97,500 ($60,000 cash plus 150,000 shares). The lease has 5 oil and gas wells and a water injection well producing about 4 barrels a day, taking the company's Oklahoma leasehold to roughly 1,830 acres; it fits a water-flood programme the company says it has planned for 2014.
19 Nov 2013quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $38 thousand and a net loss of $429 thousand for the period ended 2013-09-30.
15 Nov 2013capital raising announcement▼ BadMajor
The financing closed three days later at $1.5 million of principal for only $1.2 million of new cash, the rest being old debt rolled in, plus warrants over 7.5 million shares at 25 cents. Management presented it as funding for Kansas and Oklahoma drilling.
14 Nov 2013late filing notice▼ Bad
New Western Energy Corp notified the SEC that its quarterly report would be filed late.
12 Nov 2013capital raising announcement▼ BadMajor
New Western agreed to sell convertible debentures with warrants attached to a group of private investors on terms that booked $1.12 of debt for every dollar it received. Expensive money for a small Kansas and Oklahoma operator.
23 Oct 2013director interest notice● Neutral
Christopher James Dimond became a New Western Energy Corp director and company insider (initial ownership filing).
23 Oct 2013director interest notice● Neutral
New Western Energy Corp director Terry L Carroll received a stock option grant for 400,000 shares.
23 Oct 2013director interest notice● Neutral
Christopher James Dimond became a New Western Energy Corp director and company insider (initial ownership filing).
22 Oct 2013director interest notice● Neutral
New Western Energy Corp CFO & Secretary Haris Baha received a stock option grant for 400,000 shares.
22 Oct 2013director interest notice● Neutral
New Western Energy Corp CEO Javan Khazali received a stock option grant for 800,000 shares.
14 Aug 2013quarterly activities report▼ Bad
New Western Energy Corp reported quarterly revenue of $12 thousand and a net loss of $809 thousand for the period ended 2013-06-30.
15 May 2013quarterly activities report● Neutral
New Western Energy Corp reported quarterly revenue of $19 thousand for the period ended 2013-03-31.