SOURCE: Ameriwest Energy Corp.

November 23, 2007 08:00 ET

Ameriwest Energy Signs Letter of Intent Regarding Acquisition of the Skull Valley Prospect, Utah

HOUSTON, TX--(Marketwire - November 23, 2007) - Ameriwest Energy Corp. (OTCBB: AWEC) (“Ameriwest” or the “Company”) is pleased to announce that it has signed a Letter of Intent (“LOI”) with Geochem Exploration, LLC (“Geochem’) to acquire a 100% working Interest along with a 80% net revenue interest in the Skull Valley Prospect located in Toole County, Utah. The Company intends to drill an exploration well on the on the Skull Valley Prospect in early 2008.

Details regarding the LOI have been submitted to the Securities and Exchange Commission (“SEC”) as part of the Company’s Form 8-K filing dated November 19th, 2007.

In unrelated news, the company is pleased to announce that it has launched its website at www.ameriwestenergy.com.

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.

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 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.

On Behalf of the Board
Ameriwest Energy Corp
Christopher D. Wright, President & CEO

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