New Western Energy eyes $1.23 million sale of discounted convertibles

Debentures will fund company's drilling programs in Kansas, Oklahoma

By Devika Patel

Knoxville, Tenn., Nov. 19 - New Western Energy Corp. said it will conduct an offering of $1.23 million of original issue discount senior secured convertible debentures with Hillair Capital.

Proceeds will be used for drilling programs in Kansas and Oklahoma and synergistic acquisitions.

The oil and gas company is based in Irvine, Calif.

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