CanWest Petroleum Corporation
OTC Bulletin Board : CWPC

CanWest Petroleum Corporation

November 01, 2005 13:14 ET

CanWest Petroleum Corporation: Firebag East Oilsands Project

CALGARY, ALBERTA--(CCNMatthews - Nov. 1, 2005) -

25 CORE HOLE INITIAL DRILL PROGRAM PROGRESS REPORT

CanWest Petroleum Corporation (OTCBB:CWPC) reports that Oilsands Quest Inc. has received all permits from the Saskatchewan Government.

Mobilization has been underway for several days with equipment expected on the Firebag East Lands within four days, which will include: a sixteen-man camp, core hole drill equipment, support services, and drill pad and road access equipment. Drilling will be announced immediately upon commencement.

The initial drilling will be close to previously drilled core holes that have proven bitumen shows.

ABOUT CANWEST PETROLEUM CORPORATION

- CanWest Petroleum has the largest land holdings in the Athabasca Oil Sands region being 846,680 acres known as the Firebag East project.

- 3.4 billion barrel bitumen oil resource, known as the Eagle Nest Project, in the Athabasca Oil Sands of Alberta.

- 4.3 billion barrel oil shale resource, known as the Pasquia Hills Project, which contain petrochemical feedstocks including Benzenes and Naphthas.

- A senior US listings is planned in the near term.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.

Cusip# 138748 10 8


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