MegaWest Energy Registration Statement Effective

CALGARY, ALBERTA -- (MARKET WIRE) -- 03/28/08 -- MegaWest Energy Corp., (the "Company" or "MegaWest"), an independent oil and gas company (OTCBB: MGWSF) (Cusip: #585168 107), specializing in non-conventional oil and gas projects with a focus on North American heavy oil, is pleased to announce that its Registration Statement on Form F-1 has been declared effective. Pursuant to a registration statement filed with the United States Securities Exchange Commission on March 20, 2008 and effective on March 25, 2008, 38,048,550 issued common shares and 18,592,623 common shares underlying warrants yet to be issued in the capital of MegaWest Energy Corp. are eligible for resale by certain selling shareholders during the effective period of the registration statement. The Registration Statement satisfied MegaWest Energy's obligations to register shares under agreements entered into pursuant to its financings and acquisitions.

MegaWest's experienced management seeks to prove up significant resources and achieve early production from its world-class suite of operated properties. MegaWest now owns or has the right to earn an interest in over 115,000 acres in Missouri, Kansas, Kentucky, Montana and Texas. The underpinning for MegaWest's strategy is the convergence of the necessity for North American security of energy supply, current world oil prices, and significant commercial developments in thermal recovery technologies. Through delineation drilling and the completion of demonstration thermal and enhanced recovery production tests, MegaWest plans to establish proved and producing unconventional heavy oil resources in each of its core areas.

ON BEHALF OF THE BOARD OF DIRECTORS

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

For further information please visit the Company's Website at www.megawestenergy.com.

Forward-Looking Statement Disclaimer

This document contains statements about expected or anticipated future events 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, 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

MegaWest Energy Corp. Mike Parker Investor Relations 1-866-506-7979 Email: MParker@sweetwatercapital.net Website: www.megawestenergy.com

2008-03-28 16:31:33 0322478 MARKETWIRE