MegaWest Energy Corp.
OTC Bulletin Board : MGWSF

MegaWest Energy Corp.

December 14, 2007 18:53 ET

MegaWest Extends Warrant Expiration Dates

CALGARY, ALBERTA--(Marketwire - Dec. 14, 2007) - MegaWest Energy Corp., (the "Company" or "MegaWest"), an independent oil and gas company (OTCBB:MGWSF) (Cusip: #585168 107), today announced that the Board of Directors has approved a six month extension for 18,592,623 warrants, to purchase that same number of common shares, associated with the January, 2007 $0.50 and February 2007 $1.00 private placements. As a result of this extension 4,212,500 warrants at $1.00 and 14,380,123 warrants at $1.30 will now expire on July 5, 2008 and August 28, 2008 respectively. MegaWest will be sending out an amendment to the warrant certificates in conjunction with this extension.

MegaWest, which recently announced in a December 12, 2007 news release a combined independent and management high estimate of 2 billion barrels of gross original resources (OOIP), is focused on non-conventional oil and gas projects in the United States. It owns or has the right to earn an interest in over 110,000 acres in Kansas, Missouri, Kentucky, Texas and Montana. MegaWest's strategy is to grow shareholder value through the selective acquisition of projects with large resource potential located in the vicinity of existing infrastructure and the application of emerging and proven commercial developments in thermal recovery technologies.


George T. Stapleton, II, President & CEO

For further information please visit the Company's Website at

Forward-Looking Statement Disclaimer

Except for statements of historical fact relating to the Company, this news release contains certain "forward-looking information" within the meaning of applicable securities law. In general, estimates of gross original resources and recoverable resources are based upon a number of factors and assumptions made as of the date on which the estimates were determined, such as geological, technological and engineering estimates and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking estimates. These factors are more fully outlined in the Company's press release of December 12, 2007 which the reader should refer to. The reader should also refer to MegaWest Energy's current annual report or other document filings, which are available at and at for additional discussion of risks and uncertainties. MegaWest Energy undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

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