v3.3.0.814

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
Statements of Operations (Unaudited) - USD ($)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Oil and gas sales	$ 18,452	$ 131,660	$ 77,801	$ 313,782
Operating expenses
Depreciation, depletion and amortization	3,932	18,904	12,271	76,785
General and administrative	236,411	$ 505,932	1,051,271	$ 1,587,743
Impairment expense	$ 9,952		29,856
Loss on sale of oil leases			33,886
Oil and gas production	$ 26,703	$ 144,631	96,146	$ 512,062
Total operating expenses	276,998	669,467	1,223,430	2,176,590
Loss from operations	(258,546)	(537,807)	(1,145,629)	(1,862,808)
Other income (expenses)
Interest expense	(167,725)	(91,140)	(496,349)	(1,288,617)
Gain (loss) on settlement of debt	(888,916)	(128,168)	(860,226)	(128,168)
Change in fair value of embedded conversion option and warrant liability income (expense)	$ (102,184)	$ 304,802	41,167	$ 1,131,241
Other income			10,000
Total other income (expenses)	$ (1,158,825)	$ (267,774)	(1,305,408)	$ (285,544)
Loss from operations before income tax	(1,417,371)	$ (270,033)	(2,451,051)	$ (2,148,352)
Provision for income tax	1,925		1,925
Net loss	(1,419,296)	$ (270,033)	(2,452,962)	$ (2,148,352)
Preferred stock dividend	(24,433)	(11,204)	(62,393)	(13,582)
Net loss applicable to common stock before allocation to noncontrolling interest	(1,443,729)	(281,237)	(2,515,355)	(2,161,934)
Net loss applicable to noncontrolling interest in consolidated subsidiaries	(28,571)	(81,672)	116,098	(211,170)
Net loss applicable to New Western Energy Corporation common stock	$ (1,415,158)	$ (199,565)	$ (2,399,257)	$ (1,950,764)
Basic and diluted net loss per share applicable to New Western Energy Corporation's common stock	$ (0.02)	$ (0.00)	$ (0.03)	$ (0.03)
Weighted average number of shares outstanding - Basic and Diluted	76,846,325	74,265,144	76,246,903	73,460,791

Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Current Tax Expense (or Benefit)

-URI http://asc.fasb.org/extlink&oid=6509736

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SAB TOPIC 6.I.7)

-URI http://asc.fasb.org/extlink&oid=34349781&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 6

-Section I

-Subsection 7

New Western Energy Corp 10-Q