MegaWest Energy Corp.
OTC Bulletin Board : MGWSF

MegaWest Energy Corp.

March 06, 2007 11:22 ET

Retransmission-MegaWest Energy Corp.: Progress Report

Formerly Brockton Capital Corp. New Trading Symbol - OTCBB: MGWSF Two New Directors New Website

CALGARY, ALBERTA--(CCNMatthews - March 6, 2007) - MEGAWEST ENERGY CORP. (OTCBB: old symbol: BKCOF/new symbol: MGWSF) -

The Company has changed its name to MegaWest Energy Corp. (OTCBB:MGWSF) from Brockton Capital Corp. to reflect the Company's extensive acquisition program of non-conventional oil and gas projects in Western North America.

As at the start of trading on Tuesday March 6, 2007, MegaWest will be quoted on the OTC Bulletin Board under the symbol: MGWSF.

"Adopting the MegaWest name, hiring our core management team and the completion of recent financings totalling approximately US$34 million has given the Company a solid foundation to pursue and develop its heavy oil opportunities," stated George Stapleton, President and C.E.O. "The Company is also fortunate to announce the addition of two new directors, Dr. Gail Bloomer and Brian Evans QC, whose extensive experience will assist the Company as it acquires other projects of merit."

The Company has also increased the number of directors to six, to include Dr. Gail Bloomer and Brian Evans QC.

Dr. Bloomer received his doctoral degree in Geology from Harvard University and has both international and North American expertise in exploration and development. Previous senior engagements include Gulf Oil and Kerr McGee.

Mr. Evans, QC, is Executive Director of the Werklund Group, a private investment group effective August 2006 and prior to that was a partner and associate counsel with Miller Thomson LLP, a national law firm.

MegaWest Energy Corp., a publicly held Canadian oil and gas company (OTCBB:MGWSF), is focused on becoming a leader in non-conventional oil and gas projects with an initial focus on North American heavy oil. The Company has agreements in principal to acquire over 60,000 acres of oil and gas rights known to contain substantial deposits of heavy oil. Through delineation drilling and the completion of pilot production tests, MegaWest plans to establish proven and producing reserves this year. MegaWest's experienced management group is operating from its Calgary head office, the heart of the Canadian oil patch and home to a vast array of technical experts in the recovery of heavy oil. In addition, the Company has senior personnel based in Houston, Texas.

The underpinning for MegaWest's strategy is the convergence of the necessity for North American security of energy supplies, current world oil prices, and significant commercial developments in thermal recovery technologies.

Forward-Looking Statement Disclaimer

This news release contains "forward-looking statements". 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. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that (i) the Company will acquire and exploit non-conventional oil and gas properties in Western North America, (ii) the Company will develop its heavy oil opportunities, (iii) the Company will establish proven and producing reserves this year, and (iv) the Company will be successful in recovering oil for any of its future prospects.

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: (i) the failure to complete the acquisition of the shares of Trinity Sands Energy LLC and/or the Membership Units of Kentucky Reserves, LLC for whatever reason, (ii) the failure to complete the acquisition of the assets from Deerfield Energy LLC for whatever reason, (iii) the continued demand for oil and gas, (iv) the failure by the Company and others to identify and acquire other oil and gas prospects, (v) the failure to raise any proceeds necessary to complete any acquisitions of any other oil and gas prospects, (vi) the uncertainty of the requirements demanded by environmental agencies, (x) the Company's ability to raise debt or equity financing for operations, (xi) the Company's ability to maintain qualified employees or consultants, and (xii) the likelihood that no commercial quantities of oil and gas are found or recoverable on any properties in which the Company has an interest. 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.

Contact Information