NEWS UPDATES
Ameriwest Energy Advises of Delay to Annual Report
Monday, April 20, 2009 | more 
Ameriwest Energy Reacts to Economic Conditions
Friday, March 13, 2009 | more
Ameriwest Energy Reviews Favorable Independent Geologist Report on Geary Prospect
Thursday, February 26, 2009 | more
Ameriwest Energy Corp. is a fast growing, exploration and development company that undertakes the development of underdeveloped oil resources and well documented exploration projects in the prolific Rocky Mountain region of the United States. The company has adopted an aggressively strategic approach targeting extensively mapped exploration plays with significant upside potential. All projects incorporate considerable historic data and are in close proximity to excellent support infrastructure.
The Company’s exploration program centers on pursuing primary production at the well-documented Geary Prospect in the Powder River Basin. Initial estimates indicate possible reserves of up to 3.15 MMBO at an averaged 175,000 gross barrels per well. Ameriwest management is also very excited with the property at Skull Valley which has been reported by Exploration Technologies Inc. (ETI) to have geological and geochemical features similar to, and with possibly greater potential than the nearby Grant Canyon field which has produced up to 30 million barrels of oil. Additional efforts include lease options at South Glenrock “C” with its potentially recoverable 4.9 million barrels of oil (MMBO) as well as ongoing production revenues and low cost capability to significantly increase production within a very short timeframe.
Company Highlights
- Strategic approach has identified low-risk, high potential exploration plays
- Strong local partners including a team of expert landmen & field engineers
- Leveraging the expertise of the industry's best reservoir engineering firm: NITEC LLC
- Targeting an area with many overlooked opportunities
- The Rocky Mountain region is less competitive and less developed than Texas and Alberta
- Experienced, successful management
Project Highlights
- Current estimated total reserves: Over 40MMBO (primary) plus additional 4.5MMBO (proven producing secondary and tertiary reserves)
- Exploration targets mainly historically proven locations
- Ameriwest is operator of record for Skull Valley and Geary Prospects
- Skull Valley prospect was first identified by geochemical surveying conducted by Gulf Oil
- Ameriwest has key info including geologic data, well logs, cutting samples and 3-D seismic data supporting exploration at Skull Valley
- Geary Prospect offers potential for 18 wells averaged at 175,000 gross barrels per well.
- Opportunity to quickly double production at South Glenrock at low cost
- Infrastructure in place and construction underway
Once again energy needs are on the increase, reliance on foreign oil is intensifying as is growing geopolitical tension, and oil prices are showing the resultant and inevitable volatility indicators.
Ameriwest Energy is taking lessons learned from successful projects throughout North America and is applying the very latest in exploratory technology at locations with historic well-documented geology and significant resource potential.
