Ameriwest Energy Corp. (AWEC.OB)

Posted: Mon Jun 16, 2008 3:20 pm

Ameriwest Energy Corp. (AWEC.OB) is “One to Watch”

Ameriwest Energy is a domestic oil company with one very specific goal: to decrease foreign oil dependency by targeting pre-existing, yet underdeveloped American oil reserves.

Vast stores of oil still remain all over our country's western regions, left unrecovered after traditional extraction methods have run their course. More than half of the oil originally discovered in and around the Rocky Mountains, in particular, is still untouched to this day. The volume of these reserves is estimated to be 23 billion barrels, and Ameriwest intends to capitalize on this using cutting-edge recovery techniques.

The company's tertiary (oil recovery from pre-existing wells through the underground application of heat and chemicals) focus is currently vested in three main areas, defined as low-risk, historically-producing properties. Part of Ameriwest's tertiary recovery program, the South Glenrock plot contains just under 5 million barrels of recoverable crude, and the potential for about 2.5 million barrels lies in the Burke Ranch field. The greatest prospect, however, is known as the Cole Creek reserve; originally estimated to hold over 125 million barrels, the Wyoming Oil & Gas Conservation Commission estimates that only 18 million have been harvested thus far.

Ameriwest's attention to properties which have been largely overlooked, and under-worked, could be the ticket to materializing its goal of becoming an American oil superpower.

Joined: 05 Feb 2009 Posts: 7 Location: MS

I think this is gonna fly soon.Several boards watching this one Very Happy

Joined: 05 Feb 2009 Posts: 7 Location: MS

News and Press Releases
More News >> Ameriwest Energy Hires Independent Geologist to Validate Data
Last Update: 2/4/2009 9:01:28 AM

Ameriwest Energy Hires Independent Geologist to Validate Data
CASPER, WY, Feb 04, 2009 (MARKET WIRE via COMTEX) -- Ameriwest Energy Corp. (AWEC) ("Ameriwest" or the "Company") is pleased to announce that it has contracted the services of licensed professional Geologist Connie Hawkins to provide an independent assessment of the target data towards further ensuring a successful outcome at the Ameriwest Fee #1 well to be drilled at the Company's Geary Prospect location on or near March 16th, 2009.

As previously noted the proposed well is on private lands and offset to 2 wells located in the Geary Dome field with cumulative production to-date of 323,617 BO and 29,515 MCF gas. It is also located nearby to the Weststar Keenan Fee 14-34 well with cumulative production of 156,860 BO and also within 1/2 mile of the Weststar Keenan Fee 16-27 well with cumulative production figures of 166,757 BO to date.

Materials to be used for the basis of the analysis include isopach and structure maps of the Dakota sands formation as well as private reference data and the construction of several cross-sections and similar maps using PetraCopyright software by the Geologist. The Geary Prospect is located in a prolific portion of the Powder River basin that has historically produced many millions of barrels of oil from such well known nearby fields as Brooks Ranch, Big Muddy, South Glenrock, and South Cole Creek to name a few. These fields all produce from Cretaceous age reservoirs, among which the lower Cretaceous Dakota Formation is an important contributor. These fields all result from a favorable combination of stratigraphy and structural components and were originally drilled based primarily on their obvious structural component.

As data quality and understanding of stratigraphic concepts has improved, new oil that is trapped mainly by stratigraphy is still being found, not only in geographic association with these structures, but also in locations not directly associated with structure. The main objective is structurally well documented and on trend with existing production within the Cretaceous Dakota sandstone formation with the possibility of production from other Cretaceous sands including the Upper and Lower Muddy, and Wall Creek (Frontier) sands. Initial estimates based on a full field program with 40 acre spacing across an estimated 18 wells indicate possible reserves of approximately 3 MMBO.

Company President Walter Merschat states, "We look forward to the results of the independent analyses within 1-2 weeks. This will give us ample to time to determine if we feel any final adjustments to our plans are indicated. Currently, all other aspects of the project including permitting and final approvals are moving ahead as planned, as are our plans for the continued development of the prospect with another 17 wells on the horizon, should the Ameriwest Fee #1 well prove successful."

About Ameriwest Energy Corp. (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 .

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 and 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.

SOURCE: Ameriwest Energy Corp.

Copyright 2009 Market Wire, All rights reserved.

Joined: 05 Feb 2009 Posts: 7 Location: MS

Ameriwest Energy Corp. Analyst Report Discusses Growth Plan and Potential Market Capitalization
LOS ANGELES, CA, Feb 05, 2009 (MARKET WIRE via COMTEX) -- An Analyst Report from IPOdesktop.com discusses Ameriwest Energy Corp.'s (AWEC) growth plan and potential market capitalizatio

About Ameriwest Energy ()

Ameriwest Energy Corp. is a growing, well-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.

SOURCE: Ameriwest Energy

Copyright 2009 Market Wire, All rights reserved.

Joined: 05 Feb 2009 Posts: 7 Location: MS

It's moving on up Very Happy

Joined: 05 Feb 2009 Posts: 7 Location: MS

#1: Ameriwest’s South Glenrock C Field

4,724 acres
99.5% working interest

Currently producing: 12 barrels of oil a day
Recoverable reserves: 4.9 million total

Market value: $553,700.00

#2: Skull Valley Field

6.680 +/- acres
100% working interest

Projected recoverable reserves: 50—100 MILLION BARRELS OF OIL

Market value: $11,300,000.00

#3: Burke Ranch Field

1,920 acres
95% working interest

7,500 +/- acres in area of mutual of interest (AMI)
100% working interest

Currently producing: 10 barrels of oil per day
Projected recoverable reserves:
2.4 MILLION BARRELS OF OIL using tertiary methods
1.0 MMBO using primary and secondary methods

Market value: $384,200.00

TOTAL PROJECTED RECOVERABLE RESERVES:
107.3+ million barrels oil (All properties)
7.3 MMBO tertiary recovery
50–100 MMBO primary recovery

Investors Hub has alot of talk about this stock