June 2008

Stock Information

BUSINESS SUMMARY
Ameriwest Energy Corp. (OTCBB: AWEC) is an emerging
energy company focused on oil and gas exploration and
production in underdeveloped regions in the U.S. Rocky
Mountains. Ameriwest Energy is acquiring majority interests
in producing leaseholds with opportunities to maximize
production through enhanced oil recovery (EOR) as well
as extensively mapped exploration plays that demonstrate
significant development potential.
AREA OF EXPERTISE
Ameriwest’s specialty, continuous CO2 gas injection,
is “a technology whose time has come, providing energy,
environmental and economic benefits,” according to the
U.S. Department of Energy (DOE).
For more information on CO2 and its benefits, visit:
www.fossil.energygov/programs/oilgas/eor/index.html.
For every barrel of crude oil produced in the United
States, two barrels of oil are left in the ground, inaccessible
by traditional primary or secondary production methods.
Enhanced oil recovery (EOR) or tertiary production
techniques can be used to restore formation pressure and
improve oil displacement or fluid flow in reservoirs to
produce the stranded reserves. The DOE has determined
that EOR using carbon dioxide (CO2) flooding could add an
estimated 89 billion barrels to the nation’s recoverable oil
resources.
With much of the easy-to-produce oil already recovered
from U.S. oil fields, producers are employing tertiary or
EOR techniques, including gas injection (CO2 is one), for
ultimately producing 30 % or more of the reservoir’s Original
Oil in Place. (OOIP). (source: US DOE)
First tried in 1972 in Scurry County, Texas, CO2 injection
has been used successfully throughout the Permian Basin
of West Texas and eastern New Mexico, and is now being
pursued to a limited extent in Wyoming, Utah, Kansas,
Mississippi, Oklahoma, Colorado, Montana, Alaska,
Pennsylvania and Alberta, Canada.
Ameriwest Energy’s area of focus in the Rocky Mountains
provides for less competition and an abundance of
underdeveloped properties compared to Texas and New
Mexico. The Department of Energy estimates the producing
basins of Wyoming, Utah and Colorado have 33.6 billion
barrels of original oil in place, 67% of which will remain
stranded after primary and secondary oil recovery. Ameriwest
has the extensive geologic acumen and experience in tertiary
Business: Oil & Gas Exploration & Production
OTC BB Symbol: AWEC
Market Price: $0.68 (6/3/08)
52 Week Range: $0.32 - 1.01
Avg. Daily Volume: 178,733
Shares Outstanding: 54.3 Million
Estimated Public Float: 26.3 Million
Market Cap: $36.9 Million
Fiscal Year End: December 31
oil recovery techniques to reinvigorate production in mature
reservoirs, utilizing CO2 flooding and 3-D seismic data, to
profitably develop oil stranded by primary and secondary
extraction or overlooked by past exploration.
OIL PRODUCING INTERESTS
Cole Creek Oilfield
In April 2008, Ameriwest entered into an exclusive option
to purchase the Cole Creek Oilfield Unit and Adjacent Leases
located on or near the Cole Creek anticline in Natrona and
Converse Counties, Wyoming.
There are approximately 14,000 gross acres of leasehold on
or adjacent to the Cole Creek Anticline of which 7,800 acres
are within the Cole Creek Unit and the balance in various
Held By Production (“HBP”) and term leases. Within the
Cole Creek Unit, Ameriwest is purchasing slightly more
than 68% of all formations from the surface to the base
of the Shannon Formation which is at 4500’ and will be
operated by Ameriwest. Below the base of the Shannon
formation, Ameriwest will own approximately 35% of the
working interest in the productive formations which are
Frontier, Dakota, and Lakota and the same percentage of

300 Chestnut Street, Suite 200  Needham, MA 02492  Tel: 781.444.6100  Fax: 781.444.6101  otcfn.com
OTC Financial Network - Corporate Facts

the potentially productive formations which are the Niobrara
Shale, Muddy Sand, Mowry Shale and the Tensleep Sand.
The Original Oil in Place (“OOIP”) in the Shannon, Frontier,
Dakota, and Lakota formations has been calculated in an early
study by Mobil Oil and recently studied by an independent
geologist in 2001. These earlier noted assessments indicate
the OOIP was estimated at 125,298,000 standard barrels of
oil (“STBO”) of which, the Wyoming Oil & Gas Conservation
Commission estimates that 18,565,000 STBO has been
produced from the field to-date. Presently, NITEC LLC of
Denver, Colorado is substantiating these numbers as well
as calculating the recoverable reserves by tertiary recovery
methods. Currently, the existing operational wells within
Cole Creek Field are producing a cumulative 225 Barrels of
Oil Per Day (“BOPD”).
The Burke Ranch Field
The Burke Ranch field consists of a total area of
mutual interest (“AMI”) of roughly 8,739 acres situated
approximately 25 miles North of Casper, Wyoming located
in the Powder River Basin of Natrona County. Discovered
in 1953, the field has been estimated by the Wyoming Oil
and Gas Conservation Commission at 13 million barrels of
original oil in-place and has produced approximately 6.5
million barrels of oil using primary and secondary recovery
methods.
Recent studies by engineering firms examining CO2
tertiary recovery methods in fields in the SW Powder
River Basin, having similar geology as Burke Ranch, show
20 to 25% recovery of original oil in place (OOIP) by CO2
injection. This could equate to a tertiary reserve potential
of 2.4 million recoverable barrels of oil. Additional studies
including analogous fields within the area have indicated
possible and probable recoverable reserves within the
Muddy, Mowry/Niobrara, Frontier and Tensleep formations.
These include the Twenty Mile Hill Field (1.5 MBO produced
from Frontier Formation) and the Lost Dome Field (1 MBO
produced from Tensleep). The producing limits of the Burke
Ranch Field have not been fully established.
South Glenrock “C” Oil Field
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 remaining
oil.
Ameriwest Energy recently entered into a Letter of Intent
in order to secure a 99.5% working 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. This field
is currently in production and is estimated to contain a
projected 4.9 million barrels of oil recoverable by tertiary
CO2 injection. Further, South Glenrock “C” is geologically
similar to nearby Salt Creek field, which is currently
undergoing a successful CO2 injection program by the
Anadarko Petroleum Corporation.
Several engineering firms have surveyed South Glenrock
“C” field and have reported that it contains approximately
22.5 million STB (Stock Tank Barrels, which measures the
volume of a barrel of oil at the earth’s surface) of OOIP. Based
on the OOIP and a full field CO2 tertiary effort, Ameriwest
believes, through field studies, that an additional 20% or
4.9 MMBO may be recoverable. Further, because the field is
currently producing, many of the well bores are usable for
CO2 injection, which could lower the Company’s development
costs. Ameriwest believes current production of 8 barrels of
oil per day could be significantly increased with standard
workover projects aside from the CO2 injection program.
EXPLORATION PROSPECTS
Ameriwest Energy has signed a Letter of Intent to acquire a
100% working interest in the Skull Valley Prospect in Tooele
County, Utah. Skull Valley is a high potential, extensively
mapped exploration play with a projected resource target
of 25 to 35 million barrels of oil. Geochemical surveys
have identified a near surface soil gas anomaly similar in
composition and magnitude to the geologically analogous
Grant Canyon Field in Nevada, site of the most prolific single
producing onshore well in the U.S. Moreover, the geochemical
anomaly at Skull Valley may have greater potential than

Experienced Leadership
 Balanced Portfolio - AWEC utilizes a diversified strategy that combines low-risk producing properties and high
potential exploration plays.
 Strategic Partnerships - NITEC LLC, an internationally respected reservoir engineering firm, investigates AWEC’s
acquisition targets to determine the potential for recoverable oil and gas.
 Advanced Technology - Expertise in next generation CO2-EOR (Enhanced Oil Recovery) technology, which has
shown to increase domestic oil recovery efficiency from about one-third to over 60 percent, according to the U.S. DOE.
 Global Demand - Over the next two decades, the world will need to ramp up daily oil production from today’s 85
million barrels to about 117 million barrels, according to the Energy Information Administration.
 Geographic Niche - AWEC focuses on oil exploration and production (E&P) in the historically prolific Rocky
Mountains, where approximately 23 Billions of barrels of oil will be left behind after traditional production ceases.
 Lucrative Holdings - The Company has agreements to acquire 3 producing fields with a recovery potential of 17.3
Million barrels of oil, in addition to high-impact exploration prospects in Wyoming and Utah.
 Expert Leadership - Directors and managers bring over 200 years of collective oil & gas experience.
 Industry Outlook - Record gas and oil prices equate to great potential for skyrocketing profit margins for public
energy companies and their investors.

Page 2 (OTC BB: AWEC)

 OTC Financial Network - Corporate Facts

the Grant Canyon field, because of the additional potential
reservoirs in the Mississippian carbonates, perhaps even 50
million to 100 million barrels may be possible.
UPSIDE OPPORTUNITY
With skyrocketing oil prices, rising energy demand, limited
supply and growing geopolitical tension, the US energy
crisis is of great and ongoing concern. As energy needs rise,
reliance on foreign oil increases, and oil prices continue to
reach record new highs, enhanced oil recovery technology is
enabling innovative oil companies like Ameriwest Energy
to profitably produce bypassed resources beneath American
soil.
Ameriwest Energy has the advanced technology,
management expertise and strategic partnerships to
profitably produce from overlooked properties in oil-rich
regions of the Rocky Mountains. In addition to tapping into
three oil producing fields under agreement, the Company
offers investors the exciting upside potential of exploration
prospects. This diversified business strategy mitigates risk,
while maximizing its potential return on investment, laying
the groundwork to become a profitable and successful energy
company for the benefit of its early shareholders.

Experienced Leadership
Walter R. Merschat, President, is a petroleum geologist with over 35 years of experience in the oil and gas business. He
founded Scientific Geochemical Services (SGS) in 1987, as a company focused on conducting and interpreting geochemical
surveys. Since its inception, SGS has conducted exploration surveys encompassing more than one hundred thousand
sample locations in numerous offshore and onshore basins worldwide. Previous to forming SGS, Mr. Merschat worked
for Gulf Research and Development, a division of Gulf Oil Co., where he focused on the execution and interpretation
of geochemical programs in the Rocky Mountain region of Wyoming and in the Basin and Range geologic province of
Nevada and Utah. During his tenure at Gulf, Mr. Merschat performed the geochemical surveying on Ameriwest’s Skull
Valley prospect, located in Tooele County, Utah. Mr. Merschat received an M.S. In Geology at Ohio University in 1971
and a B.S. in Geology in 1967.
Mr. Jon Clement Nicolaysen, Director, brings over 40 years of experience in business, mineral development and
agriculture to Ameriwest. He has served as president of JK Minerals Inc., a private oil company, for 19 years. Under his
leadership, JK Minerals consolidated ownership and increased production in the historic Cole Creek Oil field northeast
of Casper, Wyoming. In 2001, he became the unit operator of the Cole Creek Oil field. He also is a founding member
of Wyoming Mineral Exploration, LLC (2004), and Muddy Mineral Exploration, LLC (2007). Mr. Nicolaysen practiced
his particular expertise in land title and acquisition to consolidate other productive fields in the Powder River Basin of
Wyoming including the South Glenrock Block “C” unit and the Big Muddy Oil field. Mr. Nicolaysen received an M.S. in
Business Administration degree from the University of Wyoming in 1970, a B.S. in Business Administration degree from
the Colorado College in 1968, and was an inaugural member of the Wyoming Agriculture Leadership Program, a W.K.
Kellogg Foundation-sponsored fellowship from 1984-1986.
Chris Wright, Director, has over 20 years of experience in finance and administrative management in both private
and public companies. In 1995, he founded Velvet Exploration Ltd., an oil and gas company based in Calgary, Alberta,
Canada, which later traded on the Toronto Stock Exchange. Mr. Wright served as the chairman of Velvet Exploration
until it was sold to El Paso Corporation in June 2001 for Cdn. $432 million. Since 1997, Mr. Wright has been the president
and CEO of First Merit Group Ltd., a private venture capital and investment firm based in Canada. Mr. Wright received
a law degree from the University of Victoria in 1986 and a bachelor’s degree from the University of Alberta in 1981.

Key Personnel
Stephen R. Cathey, Senior Engineer, contributes over 31 years of oil and gas experience including 17 years of
engineering, supervision, and field operations experience with Conoco Inc., a major US based energy Company.
Jeffrey B. Bennett, VP Drilling, has 28 years of oil and gas experience with primary focus on performance drilling
and directional drilling applications. He began his tenure with Simmons Drilling in the Rocky Mountain area and has
worked for world renowned companies such as Drillex Systems Inc., Sharewell Ind., Baker Hughes, and most recently as
VP Operations for NQL Energy Services.

Page 3 (OTC BB: AWEC)

OTC Financial Network - Corporate Facts

Company Contacts Investor Relations

Ameriwest Energy Corp. Great Northwest Investor Relations, Inc.

123 West 1st Avenue Tel: 888.697.4712
Suite 215 investors@ameriwestenergy.com
Casper, WY 8260
Walter R. Merschat
President

For company information please visit:

www.ameriwestenergy.com

Disclaimer
This is a publication of OTC Financial Network (OTCFN), a division of National Financial Communications Corp. (NFC), a
financial communications and investor relations company. Geoffrey Eiten is the sole owner of NFC and OTCFN. OTCFN has
received fees for services, including ten thousand dollars paid in cash by Dunstone Corp., plus expenses for the creation and
distribution of materials, including the CorporateFacts report. OTCFN is paid editorial fees for its writing and dissemination
of materials, and the companies featured do not have to meet any specific financial criteria. The clients represented by OTCFN
are typically development-stage companies that pose a much higher risk to investors. When investing in a speculative stock of
this nature, it is possible to lose your entire investment over time. The information contained herein contains forward-looking
statements and information within the meaning of Section 27A of the Securities Act of 1993 and Section 21E of the Securities
Exchange Act of 1934, including statements regarding expected continual growth of the featured company. In accordance
with Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, the statements contained herein that
look forward in time, which include other than historical information, involve risks and uncertainties that may affect actual
results of operations. Factors that could cause actual results to differ include the size and growth of the market for the
company’s products, the company’s ability to fund its capital requirements in the near term and in the long term, pricing
pressures, etc. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives goals, assumptions or future events or performance may be forward-looking statements. Forward-
looking statements are based on expectations, estimates and projections at the time the statements are made that involve a
number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated.
Forward-looking statements may be identified through the use of words such as expects, will, anticipates, estimates, believes,
or by statements indicating certain actions may, could, should or might occur. This is not an offer to buy or sell securities.
Information or opinions presented are solely for informative purposes and are not intended nor should they be construed as
investment advice. The information provided in this report is not intended for distribution to, or use by, any person or entity
in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject
us to any registration requirement within such jurisdiction or country. We encourage our readers to invest carefully and read
the investor information available at the web sites of the U.S. Securities and Exchange Commission (SEC) at www.sec.gov
and the National Association of Securities Dealers (NASD) at www.nasd.com. The NASD has published information on how
to invest carefully at its web site. Readers can review all public filings by companies at the SEC’s EDGAR page. This report
does not purport to be a complete study of the featured Company. Information used and statements of fact have been obtained
from the featured Company and other sources, but not verified nor guaranteed by OTCFN as to completeness or accuracy.
Such information is subject to change without notice. It should be understood that there is no guarantee past performance
will be indicative of future results. Opinions stated herein may be solely Geoffrey Eiten’s, and not necessarily those of the
featured Company. Officers, directors, and employees of OTCFN or NFC and anyone mentioned in this report and members
of their families, may hold a position and may, from time to time, trade in these securities for their own accounts including
when the Corporate Facts report, or other material, is distributed. Specific information in this regard will be furnished upon
request. Trademarks are the property of their respective owners. ©2008 OTC Financial Network. All rights reserved. For any
additional information call 781- 444-6100 or see http://www.otcfn.com.

Page 4 (OTC BB: AWEC)