MegaWest Energy Corp.
OTC Bulletin Board : MGWSF

MegaWest Energy Corp.

June 14, 2007 10:00 ET

MegaWest Announces First Oil Production From Chetopa

CALGARY, ALBERTA--(Marketwire - June 14, 2007) - MegaWest Energy Corp. (the "Company" or "MegaWest"), a Calgary based oil and gas company (OTCBB:MGWSF) (Cusip: #585168 107), specializing in non-conventional oil and gas projects with a focus on North American heavy oil, has commenced production from the Chetopa, Kansas non-conventional oil project.

The Company's President and CEO, George T. Stapleton, II, stated, "MegaWest has completed another very important step by becoming a non-conventional oil producer. The Chetopa project has begun to pay dividends for the company and this is a company milestone in terms of establishing producing reserves on this development project using thermal recovery technologies. Initial oil sales from the Chetopa project has begun this week and daily production volumes will increase over the next few weeks as steamflood operations progress."

MegaWest is an independent unconventional oil and gas company headquartered in Calgary, Alberta, Canada. MegaWest has operations in Texas, Kentucky, Missouri and Kansas. MegaWest will create shareholder value through the exploitation of North American heavy oil through the application of various methods of thermal and enhanced recovery.


George T. Stapleton, II, President & Director

Forward-Looking Statement Disclaimer

This press release contains "forward-looking statements" as defined by the Private Litigation Reform Act of 1995. 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. 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: (a) the lack of additional financing to fund the Company's exploration activities and continued operations; (b) fluctuations in foreign exchange and interest rates; (c) the number of competitors in the oil and gas industry with greater technical, financial and operations resources and staff; (d) fluctuations in world prices and markets for oil and gas due to domestic, international, political, social, economic and environmental factors beyond our control; (f) changes in government regulations affecting oil and gas operations and the high compliance cost with respect to governmental regulations; (g) potential liabilities for pollution or hazards against which the Company cannot adequately insure or which the Company may elect not to insure; (h) the Company's ability to hire and retain qualified employees and consultants; and (i) other factors beyond the Company's control.

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 in the US and in Canada.

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