Message from the President...

Greetings and welcome to our inaugural Ameriwest Energy newsletter. I’m Walter Merschat, President and CEO, and I’d like to take this opportunity to tell you a little bit about the company, our projects and the various methods we employ.

Ameriwest Energy’s focus is on the acquisition of underdeveloped stores of oil stranded in Wyoming and Utah’s historically prolific reservoirs. It’s worth noting that I personally have been working as a professional oil man in and around the areas where our properties are located for just over 20 years. It currently is, and historically has been, a very exciting and productive oil & gas region. The area has had tremendous production numbers and now with the advent of new tertiary production technologies we are able to economically attempt the recovery of the significant reserves left in the ground after primary and secondary extraction methods have been exhausted.

This is the first of a series of newsletters we plan to publish on a regular basis. We don’t envision this forum as a vehicle for news, but more as an opportunity to share some of the ongoing efforts of our hopefully interesting day-to-day workings.

What we think will make it interesting stems from the belief that we have some very exciting projects under way. Currently we have two projects at various stages of development; South Glenrock “C” Field, Wyoming ( +/- 4,724 acres ) and Skull Valley, Utah (+/- 5,130 acres).

Generally, we are not seeking new discoveries; but are employing Enhanced Oil Recovery (“EOR”) systems and technologies to retrieve the oil left in the ground from older and more primitive methods used in earlier times.

In the upcoming months we look forward to introducing you to our projects, our people and our methods in a more in-depth and ongoing fashion. We hope this newsletter along with our website and timely disclosure in our press releases will prove informative and engaging to our readers. Thank you for your interest in Ameriwest Energy and we hope you are looking forward to our next edition!

Sincerely,

Walter Merschat, President
Ameriwest Energy, Corp.

Ameriwest Energy:
Our Mission, Our Vision, Our Principles

Mission: To develop a company offering a strategically planned economic balance between low risk tertiary recovery projects and well-documented high return
exploration prospects.

Vision: To create a viable and sustainable oil and gas production company focused on the Rocky Mountain region.

Core Principles:

1. Focusing on value. Management’s investment decisions are based on creating shareholder value rather than just reserve and production growth.
   
   
2. Being a niche player. Focus on what we do best by only participating in the opportunities that closely
   follow our mission and vision.
   
   
3. Leveraging energy market knowledge. Use proven technology and quickly adapt as new technologies develop.
   
   
4. Investing in people. Invest in our employees and partners, as they are some of our most important
   assets.
   
   
5. Operating ethically and responsibly. Respect the unique and diverse environments we operate within.

Prospects

South Glenrock Field, Wyoming
Ameriwest Energy has entered into a Letter of Intent in order to secure a 99.5% working interest (78% net royalty interest) in the South Glenrock “C” field, a unit consisting of approximately 4,724 acres, located 20 miles outside Casper, Wyoming, in the southern region of the Powder River Basin.  Discovered in 1950, the South Glenrock field has approximately 25.48 million barrels of Original Oil in Place (“OOIP”) with an estimated 17.67 million barrels of recoverable reserves remaining.

Based on the OOIP and a full field CO2 tertiary effort, our engineers believe through field studies that an additional 4.9 million barrels of oil may be recoverable from Block “C”. Further, because the field is currently producing, many of the well bores are usable for CO2 injection, which we believe significantly curtails development costs.

Skull Valley Oil Prospect, Utah
Ameriwest has signed a Letter of Intent to acquire a 100% working interest (80% net royalty interest) in the Skull Valley Prospect located in Tooele County, Utah. This prospect is estimated to contain potentially 25 to 35 million barrels of oil (MBO), recoverable by primary production methods. Skull Valley includes the prolific Grant Canyon field in Railroad Valley Basin, Nevada. The Grant Canyon field has produced over 20 million barrels of oil since 1983 and may ultimately produce a total of 30 million barrels. The Grant Canyon #3 well flowed at an average rate of 3,809 barrels of oil per day during the month of April, 1987, making it the most prolific single producing onshore well in the U.S.

Recovery Methods
Our program of tertiary (sometimes known as “improved recovery) recovery methods will use a variety of Enhanced Oil Recovery (“EOR”) technologies, each one chosen for the suitability of the particular geological makeup of a given location. Utilizing EOR, it is possible to extract up to 30-60 % (and sometime more) of the reservoir’s original oil compared with the 20-40% originally recovered using primary and secondary recovery. Improved extraction is achieved by either gas injection, thermal recovery, or chemical injection. For a variety of sound economic reasons, we are proposing a CO2 gas injection program as the most favorable method of recovery.

For examples of successful CO2 technologies and for further information about the technology, take a look at Denbury Resources (www.denbury.com), Anadarko Petroleum (www.anadarko.com), Penn West Energy (www.pennwest.com/operations/Enhanced OilRecovery.html), and the U.S. Dept of Energy (www.fossil.energy gov/programs/oilgas/eor/index.html)

Contact us

Head Office
123 West 1st Avenue
Suite 215
Casper, WY 8260

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

Visit Our Website
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.