Ameriwest Energy Hires Independent Geologist to Validate Data
February 04 2009 - 9:00AM
Marketwired
Ameriwest Energy Corp. (OTCBB: 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 Petra� 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. (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 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.
On Behalf of the Board
Ameriwest Energy Corp.
Walter R. Merschat, President
Investor Relations Contact Great Northwest Investor Relations,
Inc. 1-888-697-4712 Visit our website at
www.ameriwestenergy.com