NWest Energy Inc.

October 21, 2010 14:11 ET

NWest Energy Announces Results of Special Meeting of Shareholders

ST. JOHN'S, NEWFOUNDLAND--(Marketwire - Oct. 21, 2010) - NWest Energy Inc. ("NWest" or the "Corporation") (TSX VENTURE:NWN) announces the results of the shareholder vote at the special meeting (the "Meeting") of shareholders of the Corporation held on Wednesday, October 20, 2010.

At the Meeting, the consolidation of the common shares of the Corporation on the basis of one (1) new common share for each ten (10) existing common shares of the Corporation and the change of the name of the Corporation from "NWest Energy Inc." to "NWest Energy Corp." were approved by shareholders of the Corporation.

The proposed consolidation and name change are subject to TSX Venture Exchange (the "Exchange") approval. The Corporation currently has 94,741,924 common shares issued and outstanding and will have 9,474,195 shares issued and outstanding upon the completion of the consolidation and the approval by the Exchange. Following the approval of the Exchange, the Corporation will be issued a new trading symbol.

About NWest Energy

NWest Energy is a Canadian junior oil and gas company exploring off the west coast of Newfoundland and Labrador. NWest holds approximately 1.6 million acres of prospective frontier property in the Anticosti basin in a geologically favourable environment for exploration. Further information regarding the Corporation and its exploration licences is available at www.nwestenergy.com.

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Corporation's expectations. Certain risk factors may also affect the actual results achieved by the Corporation.

There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Corporation undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

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