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New Western to Acquire Majority Stake in Forward Energy Assets.

MANews-(C)2009-2014

24 December 2014 - US-based oil and gas explorer New Western Energy Corp. (OTCQB: NWTR) has signed and closed a definitive agreement on the majority control in a newly formed subsidiary jointly owned with Forward Energy LLC of Montana and named NWE Forward Energy LLC, the company said.

According to the company, the New Western Energy subsidiary will include all rights, title and interest in and to Forward Energy LLC's current and future oil and gas wells, leases, and designated completion equipment license and perpetuity rights.

The properties, wells and equipment are located in the Counties of Yellowstone, Golden Valley, Treasure, Musselshell and surrounding Counties of the Crooked Creek Field within South Central Montana.

New Western Energy is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and minerals primarily in North America.

Country: USA

Sector: Petroleum/Natural Gas/Coal

Target: NWE Forward Energy LLC

Buyer: New Western Energy Corp.

Deal size in USD:

Type: Stakebuilding

Financing:

Status: Agreed

Buyer advisor: , ,

Comment: Terms not disclosed

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Publication:M & A Navigator
Date:Dec 24, 2014
Words:173
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