FairWest Energy Announces Conditional Closing of Private Placement Offering

FairWest Energy Corporation (TSX VENTURE:FEC) ("FairWest" or the "Company")
announces that subject to regulatory and TSX Venture Exchange ("TSXV") approval,
the Company has closed its previously announced private placement of common
shares. In the closing, the Company issued 10,000,000 common shares at $0.05 for
proceeds of $500,000. The subscriber was a company controlled by a significant
shareholder of the Company. The Shares were issued with a four month hold period
pursuant to securities rules. The proceeds will be used for working capital and
general corporate purposes.


About FairWest Energy 

FairWest (TSX VENTURE:FEC) is a Calgary, Alberta based junior oil and gas
company engaged in the acquisition, exploration, development and production of
crude oil, natural gas and natural gas liquids in the provinces of Alberta and
Saskatchewan. 


READER ADVISORY

This news release may contain certain forward-looking statements, including
management's assessment of future plans and operations that involve substantial
known and unknown risks and uncertainties, certain of which are beyond the
Company's control. Such risks and uncertainties include, without limitation,
risks associated with oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other producers, inability to retain
drilling rigs and other services, delays resulting from or inability to obtain
required regulatory approvals and ability to access sufficient capital from
internal and external sources, the impact of general economic conditions in
Canada, the United States and overseas, industry conditions, changes in laws and
regulations (including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced, increased competition, the
lack of availability of qualified personnel or management, fluctuations in
foreign exchange or interest rates, stock market volatility and market
valuations of companies with respect to announced transactions and the final
valuations thereof and obtaining required approvals of regulatory authorities.
The Company's actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward-looking
statements and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if any
of them do so, what benefits, including the amount of proceeds, that the Company
will derive therefrom. Readers are cautioned that the foregoing list of factors
is not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these cautionary statements. Furthermore, the
forward-looking statements contained in this news release are made as at the
date of this news release and the Company does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws.


319,654,775 Common Shares Issued