Zacks Investment Research upgraded shares of New Western Energy Corp (NWTR) from N/A to OUTPERFORM on December 20, 2012, with a target price of $1.40.
New Western Energy Corp. is involved in the acquisition, exploration, development and production of oil and gas from properties in the United States. The company owns the rights to drill on a significant number of properties in Texas, Oklahoma and Kansas. Estimated reserves as of Dec. 31, 2011 were 13.3 million barrels of oil. As of Oct. 30, 2012 acreage under lease was 4,564 on which there were 89 wells. Our rating continues as Outperform with a new price target of $1.40.
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