EX-99
4
v116255_ex99.htm
Exhibit
99
Ameriwest
Energy Completes Purchase of Skull Valley Oil Prospect
Ameriwest
Energy Corp. (OTCBB: AWEC) ("Ameriwest" or the "Company") is pleased to announce
that it has closed the acquisition of the Skull Valley Oil Exploration Prospect
lands and has advanced the final $300,000 property payment to Geochem
Exploration.
Under
the
terms and conditions of the Bill of Sale the property title, drilling permit
and
operational control will be transferred to Ameriwest Energy in the coming weeks.
The Agreement calls for Ameriwest to drill the permitted well, Skull Valley
Federal 21-1 on or before September 1, 2008. Exploration Technologies, Inc.,
a
third party engineering firm from Houston, Texas, identified that the
similarities between the structural style (slump blocks), geologic column
(reservoir rocks), and geochemical anomaly between the Grant Canyon field and
the Skull Valley Prospect suggest that with almost 5000 leased acres (over
2000
acres in the heart of the geochemical anomaly) a 25 million to 35 million barrel
potential is a realistic possibility.
Company
President, Walter Merschat comments, "We are extremely pleased with the closing
of the Skull Valley prospect as it represents the first of many acquisitions
for
the Company. We are currently working to secure funding for the first well
and
expect to announce a drilling spud date in the weeks to come".
About
Ameriwest Energy Corp. (OTCBB: AWEC)
Ameriwest
Energy Corp. is a growing, expertly managed energy company focused on producing
underdeveloped oil resources in the prolific Rocky Mountain region of the United
States. The company is striking a strategic balance between low-risk tertiary
recovery projects and extensively mapped exploration plays with significant
upside potential. Visit our website at www.ameriwestenergy.com.
Notice
Regarding Forward-Looking Statements
Except
for statements of historical fact, this news release contains certain
"forward-looking statements" as defined by the Private Securities Litigation
Reform Act of 1995, including, without limitation, expectations, beliefs, plans
and objectives regarding development and exploration activities. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors, which may cause the actual results, performance or achievements
of Ameriwest to be materially different from any future results, performance
or
achievements expressed or implied by such forward-looking statements. Such
factors include general economic and business conditions, the ability to acquire
and develop specific projects, the ability to fund operations and changes in
consumer and business consumption habits and other factors over which Ameriwest
Energy Corp., or any affiliates, has little or no control. Risks, uncertainties
and other factors are discussed in documents filed from time to time by
Ameriwest with the Securities Exchange Commission. There is no assurance that
Ameriwest's expectations will be realized, and actual results may differ
materially from those expressed in the forward-looking statements. Information
concerning oil reserve estimates may also be deemed to be forward-looking
statements, as it constitutes a prediction of what might be found to be present
when and if a project is actually developed.
On
Behalf
of the Board
Ameriwest
Energy Corp.
Walter
R.
Merschat, President
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to
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Investor
Relations Contact
Great
Northwest Investor Relations, Inc.
1-888-697-4712
Visit
our
website at www.ameriwestenergy.com
Source:
Marketwire (May 30, 2008 - 4:10 PM EDT)
News
by
QuoteMedia

EX - 99 4 v116255 _ ex99 . htm Exhibit 99 Ameriwest Energy Completes Purchase of Skull Valley Oil Prospect Ameriwest Energy Corp . ( OTCBB : AWEC ) ( " Ameriwest " or the " Company " ) is pleased to announce that it has closed the acquisition of the Skull Valley Oil Exploration Prospect lands and has advanced the final $ 300,000 property payment to Geochem Exploration . Under the terms and conditions of the Bill of Sale the property title , drilling permit and operational control will be transferred to Ameriwest Energy in the coming weeks . The Agreement calls for Ameriwest to drill the permitted well , Skull Valley Federal 21 - 1 on or before September 1 , 2008 . Exploration Technologies , Inc . , a third party engineering firm from Houston , Texas , identified that the similarities between the structural style ( slump blocks ) , geologic column ( reservoir rocks ) , and geochemical anomaly between the Grant Canyon field and the Skull Valley Prospect suggest that with almost 5000 leased acres ( over 2000 acres in the heart of the geochemical anomaly ) a 25 million to 35 million barrel potential is a realistic possibility . Company President , Walter Merschat comments , " We are extremely pleased with the closing of the Skull Valley prospect as it represents the first of many acquisitions for the Company . We are currently working to secure funding for the first well and expect to announce a drilling spud date in the weeks to come " . About Ameriwest Energy Corp . ( OTCBB : AWEC ) Ameriwest Energy Corp . is a growing , expertly managed energy company focused on producing underdeveloped oil resources in the prolific Rocky Mountain region of the United States . The company is striking a strategic balance between low - risk tertiary recovery projects and extensively mapped exploration plays with significant upside potential . Visit our website at www.ameriwestenergy.com . Notice Regarding Forward - Looking Statements Except for statements of historical fact , this news release contains certain " forward - looking statements " as defined by the Private Securities Litigation Reform Act of 1995 , including , without limitation , expectations , beliefs , plans and objectives regarding development and exploration activities . Such forward - looking statements involve known and unknown risks , uncertainties and other factors , which may cause the actual results , performance or achievements of Ameriwest to be materially different from any future results , performance or achievements expressed or implied by such forward - looking statements . Such factors include general economic and business conditions , the ability to acquire and develop specific projects , the ability to fund operations and changes in consumer and business consumption habits and other factors over which Ameriwest Energy Corp . , or any affiliates , has little or no control . Risks , uncertainties and other factors are discussed in documents filed from time to time by Ameriwest with the Securities Exchange Commission . There is no assurance that Ameriwest 's expectations will be realized , and actual results may differ materially from those expressed in the forward - looking statements . Information concerning oil reserve estimates may also be deemed to be forward - looking statements , as it constitutes a prediction of what might be found to be present when and if a project is actually developed . On Behalf of the Board Ameriwest Energy Corp . Walter R . Merschat , President Add to Digg Bookmark with del.icio.us Add to Newsvine Investor Relations Contact Great Northwest Investor Relations , Inc . 1 - 888 - 697 - 4712 Visit our website at www.ameriwestenergy.com Source : Marketwire ( May 30 , 2008 - 4 : 10 PM EDT ) News by QuoteMedia