BQI

[setravis]

Press Release Source: CanWest Petroleum Corporation


CanWest Petroleum Corporation: Firebag East Athabasca Oil Sands Project-Drilling Progress Report
Friday January 13, 2:52 pm ET


CALGARY, Alberta--(BUSINESS WIRE)--Jan. 13, 2006--CanWest Petroleum Corporation (OTCBB:CWPC - News) is pleased to report the initial core hole known as # 6 - 11 - 095 - 25W3 has been drilled to total depth and intersected 18 meters (59 feet) of bitumen bearing sands within the McMurrary formation. The core recovery was greater than 90% and will be sent for analysis.


Hole #6 - 11 is located approximately 400 meters to the west of a previously drilled hole known as #07 - 11 - 095 - 25W3 which also cored bitumen from the Mc Murray formation.

The next several core holes will be drilled in the immediate area which is located in the western central portion of the Company's overall land position of 846,000 acres.

Weather permitting, the balance of the Phase One 25 hole program may be completed on schedule. The company will report on the Phase One Program from time to time as results are received. Also, the company has completed its application to drill a further 125 core holes, that will be submitted for government approval at this time.

CanWest Petroleum Corporation has the right to own a 71.3% interest in Oilsands Quest, a private Alberta operating company that has 100% of extensive acreage in the Canadian Athabasca Oil Sands Region covering some 846,000 acres known as the Firebag East, which is highly prospective for Athabasca bitumen. The Company also owns 100% of the 23,000 acre Eagle Nest Project with a known bitumen resource of 3.4 billion barrels in place. In addition, the Company owns 98% of the Pasquia Hills oil shale project with a fully risked resource of 2.4 billion barrels shale oil that grades 7.5% kerogen by weight of which 59% are aromatics including benzenes and naphtha's suitable for petro chemical feed stocks.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.

Cusip# 138748 10 8

CanWest Petroleum Corporation (OTC Bulletin Board:CWPC - News)


Contact:
CanWest Petroleum Corporation
Steve McGuire
(604) 606-7979 or Toll Free: 1-800-877-1626
OR
CanWest Petroleum Corporation
Bob Faris
(604) 606-7979 or Toll Free: 1-800-877-1626
OR
CanWest Petroleum Corporation
Jonathan Buick
(416) 907-4597
OR
CanWest Petroleum Corporation
Randal Pow
(888) 858-7759
[email protected]
www.canwestpetroleum.com

--------------------------------------------------------------------------------
Source: CanWest Petroleum Corporation

[setravis]

Took a very good bounce off the 50-dma.
Broke through the resistance @ $3.32
Today a White Marubozu was formed. This shows that the buyers controlled the price action from the first trade to the last trade.

Volume: 5,218,885
Avg Volume (3m): 1,648,980

Support @ $3.13...2.84...2.66
Resistance....blue sky above.

Technicals
MACD is Bullish
Stochastic is Bullish
Record Price High
Most Actives
Record Price Break Out
Gap Up
Percentage Gainer

Last Price Quote is:
36.94%above 13-day EMA
111.00%above 50-day EMA

[setravis]

From the Homepage of CWPC.OB

CanWest Petroleum Corporation is a unique oil and gas company with exposure to significant upside value from three large world-class projects with the potential for several billion barrels oil resource.
Thornton Donaldson, President, noted "Our Company has strategically positioned itself as the controlling shareholder of Oilsands Quest Inc. (with 70% equity), a private Calgary based company that now holds the second largest prospective land position in the Athabasca Tar Sands Region known as Firebag East. Oilsands Quest Inc. is the operator and under the direction of its' president Christopher Hopkins is prepared for a major exploration program starting early November 2005 as to 150 drill holes with the potential to discover a world class oil resource of several billion barrels which is in keeping with the reserves to the west. This is truly a major achievement for an emerging-growth junior company such as ours"

Mr. Hopkins, President of Oilsands Quest, was a Senior Vice President of Synenco Energy Inc during its formative years which now plans to produce 100,000 barrels oil/day by 2009 with announced reserves of more than 1.5 billion barrels oil from its Northern Lights Project.

CanWest has recently acquired a 100% interest in 23,040 (one township) acres of prospective Athabasca Oil Sands within the Athabasca District subject to certain cash payments and royalties as to 9 cents per barrel. The Energy Utilities Board estimates 3.4 billion barrels of reserves. Based on several drill cores and logs on the Eagle Nest Prospect, the bitumen pay in the McMurray formation averages 20 meters thick and grades over 8% bitumen by weight and may be suitable for SAGD production. The Company is in the process of seeking approval for a 12 well exploration core hole program that may be drilled in the first quarter of 2005.

The Company also owns 97% of the Pasquia Hills Oil Shale project located in eastern central Saskatchewan and covers approximately 850,000 acres with 50,000 acres deemed a mine site area. The mine site contains a drill indicated resource of 2.3 billion barrels shale oil (44 drill holes) on a fully risked basis that grades 7.5% kerogen by weight of which 59% are aromatics including benzenes, naphtha, olefins and parafins with an overall potential of 8 billion barrels. The benzenes and naphthas are characterized by Nova Chemicals as petrochemical feedstocks. The Company is in a joint venture with Nova Chemicals to complete a feasability study. At this time, Apex Engineering is building a steam assisted retort to identify maximum yields as well the Company is also recalculating the ore body to identify the highest grade pay zone as to one billion barrels.

Have A Peak.......

http://www.canwestpetroleum.com/s/Home.asp

[setravis]

Rock on Pete.....


CANWEST PETROLEUM CP (OTC BB:CWPC.OB) Delayed quote data 

Last Trade: 5.10
Trade Time: 11:24AM ET
Change:  0.39 (8.28%) 
Prev Close: 4.71
Open: 4.78
Bid: 5.09 x 500 
Ask: 5.10 x 500 
1y Target Est: N/A

  Day's Range: 4.78 - 5.52
52wk Range: 0.27 - 5.06
Volume: 2,366,870
Avg Vol (3m): 1,907,610
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)

[setravis]

Ready to resume the uptrend,consolidation ending.
The big picture remains the same.

Points of Interest:
1. Picked the final director, fullfilling AMEX outstanding application requirements.

2.The most important piece of info; Goodman from Dundee investments control 6% of the outstanding shares. Goodman, from my dd, is considered to be one of Canada's most respected and successful investors in junior mining stocks. In 2004, Ernest and Young nominated him as entrepreneur of the year. His firm must have been purchasing the shares at the 3 - 5 range.

I increased my position, If I goof, my wife warned me, I am sleeping at the neighbour's doghouse, and they have a really mean Doverman.

[snowcat]

Up a buck today.......almost hit 8.
http://finance.yahoo.com/q?s=cwpc.ob

[bohemian]

... and to think I held this thing for months, watching it drag along sideways in the 4.50-4.75 range.  Sold it at the loss of my commission only (6.95x2) so not too terrible - to buy GZFX - looks like I may not be completely nuts for making that move now :-)
Talk about a chart thought!  CWPC definitely looks promising - I plan to get back in and ride it to the mid 60's...
GLTA
-bohemian2k

[snowcat]

Perfect point to buy in - the stock is rebounding on low vol

oil prices are up, so digging in the frozen oil soaked sand becomes economical.

This stock will soon be the only oil sand pure play on the AMEX soon and there is usually a run up b4 the swithch from the bb.

http://finance.yahoo.com/q?s=cwpc.ob

[setravis]

Finding support at the 13-day EMA and back above it.
This one is flagged up here.
If it breaks out, it'll run to $9-$10 area......JMHO of course. 
Bull Flag ....Look familiar on this chart ? 

Volume: 3,876,603
Avg Vol (3m): 3,109,830

Technicals
Last Price Quote is:
6.74%above 13-day EMA
29.19%above 50-day EMA
RS Rating: N/A 

[setravis]

Flag, Pennant (Continuation) Pattern.

Flag: A flag is a small rectangle pattern that slopes against the previous trend. If the previous move was up, then the flag would slope down. If the move was down, then the flag would slope up. Because flags are usually too short in duration to actually have reaction highs and lows, the price action just needs to be contained within two parallel trend lines.


Flags and Pennants are short-term continuation patterns that mark a small consolidation before the previous move resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a mid-point of the move.

Even though flags and pennants are common formations, identification guidelines should not be taken lightly. It is important that flags and pennants are preceded by a sharp advance or decline. Without a sharp move, the reliability of the formation becomes questionable and trading could carry added risk. Look for volume confirmation on the initial move, consolidation and resumption to augment the robustness of pattern identification.

[setravis]

This one continues to amaze me.

Volume: 3,644,967
Avg Vol (3m): 3,152,850

Technicals
Last Price Quote is:
12.36%above 13-day EMA
35.77%above 50-day EMA

[Stocky2000]

i am buying cwpc tomorrow we will retest 8.00 ...hopefully breakout this week or next...

[Stocky2000]

Oil Prices Rise Toward $75 a Barrel
Wednesday May 3, 7:39 am ET
By George Jahn, Associated Press Writer 
Oil Prices Rise Toward $75 a Barrel Amid Fears Over Iran Nuclear Dispute


VIENNA, Austria (AP) -- Oil prices tested levels near $75 a barrel Wednesday amid nagging concern that Iran, a key exporter, could cut supplies because of international pressure to modify its nuclear program.
ADVERTISEMENT


Also contributing to the upward trend were an expected decline in gasoline stocks when U.S. weekly energy data is released later Wednesday, bullish buying by investors, a refinery outage in Italy and supply disruptions in Africa.

Unrest in Nigeria and the approach of the summer driving season are likely to exert additional upward pressure on prices.

Light, sweet crude for June delivery rose 14 cents to $74.75 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe, after touching $74.99 earlier in the day. The intraday peak of $75.35 was reached briefly on April 21.

[setravis]

The recent bullish formation,
is ready for a new bullish move. 

Technicals
Last Price Quote is:
9.43%above 13-day EMA
22.18%above 50-day EMA
RS Rating: N/A 

[eagerlearner]

double bottom break out , first target = 8-6.5 + 8= 9.5