IRVINE, Calif., Sept. 11, 2014 (GLOBE NEWSWIRE) -- New Western Energy Corp. (OTCQB:NWTR), an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas and other minerals in North America, today announced it has hired CC Colburn, as Senior Board Advisor, Acquisitions and Divestures. Mr. Colburn will be responsible for identifying acquisitions, financing and technical oversight and support through his firm, Geo Reserves.
Mr. Colburn is a focused and profit-driven executive with over 30 years experience in the energy production and drilling technology business. He has practical experience in and a solid understanding of a diverse range of business management applications, including profit and loss, staffing and delivery models, team building, and has consistently made significant contributions to corporate goals.
"We are delighted to welcome Mr. Colburn to our team as a key step in our growth strategy," said Javan Khazali, President and CEO of New Western Energy Corporation. "His expertise will play a vital role in the identification and development of exciting opportunities," he continued.
"I am very pleased to join New Western Energy to serve as Senior Board Advisor, Acquisitions and Divestures," said CC Colburn. "My background and expertise in identifying and developing JV's and other synergistic projects will serve to help New Western expand its growth," he added.
From 1978 to 1981 Mr. Colburn was responsible for supporting Mr. Keplinger at Keplinger and Associates as his Corporate Coordinator in the formation of U.S. Government business and assisted designated clients throughout the company system. He also procured a $30 million D.O.E. contract as technical support contractor to the Bartlesville Technology Center for Enhanced Recovery. He was responsible for the evaluation of the Strategic Petroleum Reserve, corporate expansions/acquisitions for U.G.I Corporation, and drilling and prospect evaluations for many independents. Mr. Colburn served on the Board of Directors for Ralph E Davis Inc. 2001-2004 and was responsible for opening their Pittsburgh office for concentration in the Appalachian Basin. Ralph E. Davis is the oldest petroleum-engineering firm in North America. In addition Mr. Colburn served on the U.S. Congressional Advisor board in matters relating to the energy during the Regan and Bush Senior Presidential terms. In 1981, he started Colburn Energy Companies, which was responsible for drilling and producing as the operator over 400 wells in Texas, Oklahoma, Kansas and West Virginia. The company developed $180 million PV 10 reserve base on $60 million CAPEX. Mr. Colburn sold the company in 1986 to American Resources. From March 1987 to the present, Mr. Colburn was responsible for advising and creating new business units and finance support for a multitude of companies in energy, media, and entertainment. He formed JV with Halliburton Energy Services (Integrated Solutions) for the purpose of regionally interpreting the BAT to be utilized through the entire Appalachian Basin, developed JV for Petrostar with Perm Russia for Paraffin enhancement and participated in JVs in several U.S. Basins. Since 2001, Mr. Colburn has been responsible for high-level executive and technical consulting for CONSOL Energy, CNX Gas, Chevron, Dominion Resources, Peabody Coal, EOG Resources, Range Resources, Emerald Oil and Gas, Bathurst Resources, Texas Keystone, Delta Petroleum, Equitable Resources, Devonian Resources, Lexington Coal, BCL Partners, Halliburton, Precision Drilling, Miller Energy Resources, among others.
Charles received a BS degree in Geology from George Washington University, Washington, D.C. and his graduate program from Colorado School of Mines.
About New Western Energy Corp.
New Western Energy Corp. is an independent energy company engaged in the acquisition, development, production, and exploration of oil, gas and minerals primarily in North America. To learn more about the Company, visit: www.newwesternenergy.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated production. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.