Petrowest Announces Contract for the Completion of the Twinning of Highway 43

CALGARY, Jan. 15, 2013 /CNW/ - Petrowest Corporation (PRW : TMX) announced today that the Sturgeon Lake Cree Nation has selected Petrowest's Construction Division as the successful contractor for the construction of the final leg in the twinning of Highway 43 in Alberta, between Valleyview and Grande Prairie. The Sturgeon Lake Cree Nation was successful in obtaining the contract with Alberta Transportation and through a tender process has selected Petrowest Construction LP to partner with the Sturgeon Lake Cree Nation.

The contract is for 19.9 kilometres of Highway 43, west of Valleyview through the Sturgeon Lake Cree Nation, and includes grading, granular base course, asphalt concrete pavement, culverts and a concrete bridge. Work is expected to commence in the first quarter of 2013 and continue through to the fourth quarter of 2014. Final agreements for the work were executed today and the project has an approximate value of $78 million.

"We look forward to working with Alberta Transportation and Petrowest to ensure this project is successfully completed." said the Council of the Sturgeon Lake Cree Nation.  "Our team is extremely pleased to have been selected as the General Contractor for the completion of the twinning of Highway 43 and to continue our partnership with the Sturgeon Lake Cree Nation," said Roy Larson, Petrowest's Executive Vice President, Construction Division.

About Sturgeon Lake Cree Nation

Sturgeon Lake Cree Nation is located 365 kms northwest of Edmonton, 97 kms east of Grande Prairie and 6 kms west of Valleyview along Highway 43.  Sturgeon Lake Cree Nation has a population of 2903, which includes both on and off reserve.

About Petrowest

Petrowest is an Alberta corporation involved in pre-drilling and post-completion energy services as well as industrial and civil infrastructure projects, gravel crushing and hauling for non-energy sector customers.  Petrowest's primary operations are based in the Grande Prairie area of northern Alberta and in northeastern British Columbia.

Forward Looking Information

This news release contains forward looking statements related to the time required for the project and the approximate value of the contract. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated.

SOURCE: Petrowest Corporation

please contact Richard Quigley, President and Chief Executive Officer, at [phone], or Ian Hogg, Vice President, Corporate Affairs, at [phone], or Lloyd Wiggins, Chief Financial Officer, at [phone], or [email protected].