The Rocky Mountain region of the United States has an estimated 34 million barrels of original oil. After this oil is recovered by traditional means, approximately 23 billion barrels of oil will be left behind. Ameriwest Energy Corp. (OTCBB: AWEC) has positioned itself to capitalize on this oil, focusing on the production of underdeveloped oil resources in the Rocky Mountain to find a balance between low-risk recovery projects and exploration plays with significant upside potential.

The company today announced its formal intention to exercise its right to purchase oil and gas mineral leases adjoining its recent Geary Prospect acquisition. While Muddy Mineral Exploration, LLC was the highest bidder in the United States Department of the Interior’s Bureau of Land Management auction, the company extended an offer of first right of refusal to Ameriwest on an 80 percent Net Revenue Interest.

The purchase in mention is for a 10-year Federal