CanWest Petroleum Corporation

Location:

Suite 206 475 Howe StreetVancouverBritish ColumbiaV6C 2B3Canada View Map

SIC Codes:

1311

NAICS Codes:

211111

Phone:

(604) 685-8355

Fax:

(604) 687-8789
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Description:

CanWest has built a Canadian junior petroleum company with extraordinary upside potential. It has accumulated more than 2.25 million acres of land under permit for exploration. Starting with the acquisition of the Pasquia Hills Oil Shale Project, the Company added the Firebag East Oil Sands Project, now operated by subsidiary Oilsands Quest, and then added a traditional oil play at Sylvan Lake, Alberta which is intended to build cash flow rapidly if successful. The Pasquia Hills Oil Shale Project covers approximately 850,000 acres, including a mine site of 50,000 acres with a drill indicated resource, on a fully risked basis, of 2.4 billion barrels shale oil grading 7.8% kerogen by weight containing 59% aromatics. The Pasquia project's standing increased substantially when blue chip Nova Chemicals Corporation (NYSE/Amex:NCX) agreed to jointly study the feasibility of this project as a potential source of petrochemical feedstocks. CanWest is expected to announce exploration and research results from all three of its core projects during 2005.

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