MegaWest Energy Announces Proposed Brokered Private Placement

CALGARY, ALBERTA, Apr 17 (MARKET WIRE) --
MegaWest Energy Corp. (the "Company" or "MegaWest") (OTCBB:
MGWSF)(Cusip: #585168 107) an independent energy company with heavy oil
development assets in Missouri, Kansas, Kentucky, Montana and Texas is
pleased to announce that it plans to complete a private placement (the
"Private Placement") of common shares of the Company. The Company has not
entered into agreements to sell these shares, and no assurances can be
given as to Company's ability to sell the shares or the price the Company
will receive for the shares.

The common shares to be issued in Canada pursuant to the Private
Placement will be subject to a four month hold from the date of issuance.
The common shares offered have not been and are not anticipated to be
registered under the United States Securities Act of 1933 and may not be
offered or sold in the United States absent registration or an applicable
exemption from the registration requirements.

Proceeds from the offering will be used for the delineation and
development of MegaWest's properties and for general corporate purposes.

ON BEHALF OF THE BOARD OF DIRECTORS

George T. Stapleton, II, CEO & Chairman of the Board

Forward-Looking Statement Disclaimer

This document contains statements about expected or anticipated future
events, including the sale of our common shares, and financial results
that are forward-looking in nature and as a result, are subject to
certain risks and uncertainties, such as general economic, market and
business conditions, the regulatory process and actions, technical
issues, new legislation, competitive and general economic factors and
conditions, the uncertainties resulting from potential delays or changes
in plans, the actual presence or recoverability of estimated oil and gas
resources, our ability to sell our shares at prices we deem acceptable,
the occurrence of unexpected events, and the Company's capability to
execute and implement its future plans. Actual results may differ
materially from those projected by management. For such statements, we
claim the safe harbour for forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995.

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 www.sec.gov in the US and
www.sedar.com in Canada.

Contacts:
MegaWest Energy Corp.
David Sealock
Investor Relations
1 877 984-6342
Email: info@megawestenergy.com
Website: megawestenergy.com

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