April 12, 2007
Calgary, Alberta; April 12, 2007 – MegaWest Energy Corp., (the “Company” or “MegaWest”), www.megawestenergy.com, a publicly held Canadian oil and gas company (OTC BB: MGWSF) (Cusip:#585168 107) specializing in non-conventional oil and gas projects focusing on North American heavy oil, announces two key appointments to its Calgary office.
Mr. Wayne Sampson joins MegaWest Energy as Vice President, Land. Mr. Sampson has over 30 years of Land Management experience, primarily in small to intermediate exploration and development companies in Canada and the United States. Over the past 25 years, Mr. Sampson has held numerous senior management and executive positions in both countries. Mr. Sampson is a Professional Landman (CAPL) and a member of AAPL – America’s Landmen.
Mr. Kelly Sledz joins MegaWest Energy as Controller and Finance Manager. Mr. Sledz is experienced in finance, accounting and auditing. Previously, Mr. Sledz was the Controller of a publicly held international oil and gas company and served as Senior Audit Manager for a large accounting firm on several oil and gas company engagements. Mr. Sledz is a Chartered Accountant and is a member of the CFA Institute (Chartered Financial Analyst designation).
“Mr. Sampson’s extensive land experience in the United States and Canada combined with his exceptional knowledge and skills regarding acquisition and operational agreements will help drive MegaWest’s future growth strategy. Mr. Sledz’s depth of knowledge regarding finance and accounting combined with his previous experience as Controller of a public company will provide a strong foundation for MegaWest’s uncompromising commitment to excellence in corporate governance. The addition of Mr. Sampson and Mr. Sledz completes the formation of the MegaWest’s leadership team, which will continue our strategy of acquiring significant land positions in areas of known hydrocarbon deposits and work diligently to establish production and reserves through delineation of the resource and pilot testing of appropriate technology,” stated Bill Thornton, Chief Operating Officer.
ON BEHALF OF THE BOARD OF DIRECTORS
George T. Stapleton, II, President & Director
For further information please visit the Company’s new website at www.megawestenergy.com or, contact:
| Kelly Sledz 1.403.984.6342 info@megawestenergy.com |
Mike Parker 1.888.506.7979 MParker@sweetwatercapital.net |
Forward-Looking Statement Disclaimer
This news release contains “forward-looking statements”. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that (i) the Company will acquire and exploit non-conventional oil and gas properties in Western North America, (ii) the Company will develop its heavy oil opportunities, (iii) the Company will establish proven and producing reserves this year, and (iv) the Company will be successful in recovering oil for any of its future prospects.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the failure to complete the acquisition of the shares of Trinity Sands Energy LLC and/or the Membership Units of Kentucky Reserves, LLC for whatever reason, (ii) the failure to complete the acquisition of the assets from Deerfield Energy LLC for whatever reason, (iii) the continued demand for oil and gas, (iv) the failure by the Company and others to identify and acquire other oil and gas prospects, (v) the failure to raise any proceeds necessary to complete any acquisitions of any other oil and gas prospects, (vi) the uncertainty of the requirements demanded by environmental agencies, (x) the Company’s ability to raise debt or equity financing for operations, (xi) the Company’s ability to maintain qualified employees or consultants, and (xii) the likelihood that no commercial quantities of oil and gas are found or recoverable on any properties in which the Company has an interest. The risks and uncertainties that could affect future events or the Company’s future financial performance are more fully described in the Company’s quarterly reports (on Form 6-K filed in the US and on Form 51-102F1 filed in Canada), the Company’s annual reports (on Form 20-F filed in the US and Canada) and the other recent filings in the US and Canada. These filings are available at www.sec.gov in the US and www.sedar.com in Canada.