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MegaWest Energy Corp.: MegaWest Announces Resignation of Mr. Holmes as a Director

^{Published on 2009-04-01 17:18:46, Last Modified on 2009-11-03 09:05:24 - Market Wire}
 

CALGARY, ALBERTA--(Marketwire - April 1, 2009) - MegaWest Energy Corp. (the "Company" or "MegaWest") (OTCBB:MGWSF), an independent oil and gas company, specializing in non-conventional oil and gas projects with a focus on North American heavy oil, announced today that effective March 31, 2009 Mr. John B. (Jack) Holmes, Jr. has resigned as a Director of the Company.

Mr. Holmes said, "I am resigning to devote 100 percent of my time to the privately owned renewable energy company which I run in Houston. I have confidence in the Board and Management of MegaWest to continue to make the right decisions for the shareholders and employees of the Company."

The Company wishes to thank Mr. Holmes for his contributions during his term as a Director.

MegaWest owns or has the right to earn an interest in over 146,000 acres in Missouri, Kansas, Kentucky, Montana and Texas. MegaWest seeks to prove up significant resources and achieve production from its heavy oil properties through the application of new technical developments in the commercial thermal recovery of heavy oil.

George T. Stapleton, II, Chairman of the Board

Forward-Looking Statements

This press release contains forward-looking information and statements including opinions, assumptions and estimates. Forward-looking statements include information that does not relate strictly to historical or current facts. When used in this document, the words "seeks", "anticipate", "believe", "estimate", "expect", "forecast", "intent", "may", "project", "plan", "potential", "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to a wide range of known and unknown risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. We have attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. 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 the financial statements and Form 51-102F1 filed in Canada), the Company's annual reports (on Form 20-F filed in the US and the financial statements and Form 51-102F1 filed in Canada) and the other recent filings in the US and Canada. These filings are available at [ www.sec.gov ] in the US and [ www.sedar.com ] in Canada. For all such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.