SKW Skywest Energy Corp

SkyWest Energy Corp. ("SkyWest" or the "Company") (TSX VENTURE:SKW) is pleased
to provide an update to its news release of October 11, 2011 (the "Initial
Announcement") announcing the proposed combination of the businesses of SkyWest
Energy Corp. and Marquee Petroleum Ltd. ("Marquee") (TSX VENTURE:MQE) (the
"Arrangement"). Further to the Initial Announcement, the special meeting of
SkyWest security holders to consider the Arrangement and certain related matters
will be held in the Strand Tivoli Room of the Metropolitan Centre, 333 - 4th
Avenue SW, Calgary, Alberta at 10:00 a.m. (Calgary time) on December 5, 2011.
The notice of meeting and management information circular, which will contain a
detailed description of the Arrangement, was mailed on November 7, 2011 to
security holders of record on November 3, 2011 and is available for review at
www.sedar.com. Please refer to the Initial Announcement for further information
regarding the terms and conditions of the Arrangement and the pro forma entity's
business and management team.


SkyWest is also pleased to report its recent drilling and completion results.
SkyWest has drilled 5 gross (2.42 net) new Cardium horizontal wells, 2 gross
(1.6 net) in the Carrot Creek area and 3 gross (0.82 net) in the Willesden Green
area in west central Alberta. (All production rates are reported below on a
gross basis)


Carrot Creek Area

The first well, the 05-08 (100% working interest) has been on production for 65
days at an average approximate rate of 100 bbl/d of oil and 8 boepd of gas. The
second well, 15-19 (60% working interest) has been on production for 50 days at
an average rate of approximately 100 bbl/d of oil.


Willesden Green Area

SkyWest has drilled and completed a total of 3 gross (0.82 net) wells in the
Willesden Green area. The first well 16-34 (35.00% working interest) has been on
production for 17 days at an average rate of 655 boepd (301 bblsd of oil and 354
boepd of gas). Based off test results of the 16-34 well, the remaining 2 wells
look very promising and they are expected to be tied in and on production by
November 20th, 2011. The 16-34 well has been tied in and the remaining 2 wells
will also be tied into SkyWest's Evening Star Facility. 


SkyWest's current production is 1700 boepd (not including the 2 new latest
wells) at Willesden Green).


Information Regarding SkyWest

SkyWest Energy Corp. is a Cardium focused public oil and gas exploration and
Development Company, located in Calgary, Alberta with operations in Alberta.
SkyWest currently trades on the TSX Venture Exchange (TSXV) under the Symbol
"SKW".


Statements herein that are not historical facts may be considered forward
looking statements including management's assessment of future plans and
operations, growth expectations within the Corporation, expected initial
production rates from certain new wells, timing of completion of wells and of
production additions, expected size of various plays, construction or expansion
of facilities and the timing thereof and expected costs and the effects thereof,
drilling plans and the effects thereof. These forward-looking statements
sometimes include words to the effect that management believes or expects a
stated condition or result. All estimates and statements that describe the
Corporation's objectives, goals or future plans are forward-looking statements.
Since forward-looking statements address future events and conditions, by their
very nature they involve inherent risks and uncertainties including, without
limitation, risks associated with the Acquisition, 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, failure to realize the
anticipated benefits of acquisitions, delays resulting from or inability to
obtain required regulatory approvals and ability to access sufficient capital
from internal and external sources. As a consequence, SkyWest's actual results
may differ materially from those expressed in, or implied by, the
forward-looking statements. 


Forward-looking statements or information are based on a number of factors and
assumptions which have been used to develop such statements and information but
which may prove to be incorrect. Although SkyWest believes that the expectations
reflected in such forward-looking statements or information are reasonable,
undue reliance should not be placed on forward- looking statements because
SkyWest can give no assurance that such expectations will prove to be correct.
In addition to other factors and assumptions which may be identified in this
document, assumptions have been made regarding, among other things: the impact
of increasing competition; the ability of SkyWest to obtain equipment and
services in a timely and cost efficient manner; drilling results; the ability of
the operator of the projects which SkyWest has an interest in to operate the
field in a safe, efficient and effective manner; field production rates and
decline rates; the ability to replace and expand oil and natural gas reserves
through acquisition, development or exploration; the timing and costs of
pipeline, storage and facility construction and expansion; future oil and
natural gas prices; currency, exchange and interest rates; the regulatory
framework regarding royalties, taxes and environmental matters in the
jurisdictions in which SkyWest operates; and the ability of SkyWest to
successfully market its oil and natural gas products. 


Readers are cautioned that the foregoing list of factors and assumptions is not
exhaustive. Additional information on these and other factors that could effect
SkyWest's operations and financial results are included in reports on file with
Canadian securities regulatory authorities and may be accessed through the SEDAR
website (www.sedar.com). Furthermore, the forward-looking statements contained
in this news release are made as at the date of this news release and SkyWest
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. 


BOEs 

Disclosure provided herein in respect of barrels of oil equivalent (boe) may be
misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:
1 Bbl is based on an energy equivalency conversion method primarily applicable
at the burner tip and does not represent a value equivalency at the wellhead.

Skywest Energy Corp (TSXV:SKW)
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Skywest Energy Corp (TSXV:SKW)
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