Message from the Chief Financial Officer...

Walter Merschat, President of Ameriwest Energy Corp. (“Ameriwest”), requested that I write this month’s opening message, so I’d like to take this opportunity to introduce myself. My name is Joe McQuade and I have recently joined the Ameriwest team as Chief Financial Officer (CFO). By way of background, I have participated in the oil and gas industry in various finance, accounting and managerial roles for over 35 year period. From 1981 through 1998, I served as Vice President of Finance and Chairman of the Board of Hawk Industries, Inc., a public oil and gas exploration company and in 1998 I became the President and CEO of Allagesh Oil Company, a group of oil and gas royalty partnerships. My career in the oil and gas industry successfully permitted me to retire in 2002 at age 47.

In Early June of 2008, Walter and Jon approached me with an opportunity to join them in their endeavors. After reviewing their information regarding Ameriwest and the company’s excellent prospects, I made the decision to come out of retirement and become active in the oil and gas industry once again. What attracted me to Ameriwest was the balance between high return exploration plays and the acquisition of proven producing oil and gas properties, as ongoing production is the key to building a successful oil and gas company.

This month’s newsletter will focus on the recent developments at our Skull Valley Prospects and our largest acquisition target, the Cole Creek property.

Welcome to Ameriwest and stay tuned for more exciting developments this summer.

Sincerely,

Joe McQuade, CFO
Ameriwest Energy, Corp.

Reserve Estimate Update

Now that NITEC has completed the Cole Creek reservoir engineering report, Ryder Scott, will complete reserve reports on the South Glenrock C and Cole Creek Properties. These reports will include a breakdown of our proven and probable reserves and provide Ameriwest with cash flow estimates from such properties.

Cole Creek Prospect

Last week Ameriwest released the numbers from the NITEC report on our Cole Creek property and according to NITEC, there are substantial additional recoverable primary, secondary and tertiary reserves remaining on the property. The chart below outlines Ameriwest’s working interest and the additional gross oil reserves recoverable from each formation estimated by NITEC LLC.

It is important to note that with each additional successful hole drilled, the potential for secondary and tertiary oil recovery increases.

The Cole Creek property provides Ameriwest with both a short and long term development plan. The reserve potential will allow the company to immediately develop the property and upon successful development increase production in the near future. The tertiary recovery potential alone provides the long term sustainability of the property as it takes up to 18 months to fully “recharge” the reservoir and could potentially extend the property’s production by 25 years. NITEC estimates tertiary production could increase to as much as 2,800 barrels of oil per day on the Cole Creek property.

Skull Valley Update

Skull Valley, Utah and Grant Canyon Field, Nevada

Ameriwest has become the official operator of the Skull Valley prospect and intends on announcing an expected spud date in the coming weeks. The timing of closing on the Skull Valley purchase couldn’t be better as Utah, where the Skull Valley prospect is located, has recently surpassed Kansas in new drilling permits and is positioned as the 9th largest producer of oil and gas in the US. In fact, exploration in Utah has been on the rise for the previous 10 years.

The Skull Valley prospect is analogous to the Grant Canyon field and was first delineated by Gulf in 1977 but abandoned as Gulf was unable to secure leases. Exploration Technologies, Inc. of Houston, Texas estimates the prospect could have as much as 25-35 MMBO of primary recovery potential.
Ameriwest intends to drill one exploration well in 2008, and should results be successful, the prospect has the potential to drill up to 5 wells in each of the two indentified targeted structures.

Utah Permits to Drill Issued by Oil, Gas and Mining

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123 West 1st Avenue
Suite 215
Casper, WY 8260

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TEL: 1-888-697-4712
EMAIL: investors@ameriwestenergy.com

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www.ameriwestenergy.com

Disclaimer

This document contains forward-looking statements, particularly as related to, among other things, the Company's business strategy. The words or phrases "would be", "will allow", "intends to", "may result", "are expected to", "will continue", "anticipates", "expects", "estimate", "project", "indicate", "could", "potentially", "should", "believe", "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause the Companies actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in the Quarterly and Annual Reports and other documents filed by the Company from time-to-time with the Securities and Exchange Commission. This document may be presented along with certain Company press releases, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. Management cautions readers not to place undue reliance on such statements. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company's expectations and estimates.