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Energy West, Incorporated Acquires Bangor, Maine Distribution Company

Posted on: Monday, 3 December 2007, 18:00 CST

GREAT FALLS, Mont., Dec. 3 /PRNewswire-FirstCall/ -- ENERGY WEST, INCORPORATED , a natural gas and energy marketing company, announced today that it has acquired Penobscot Natural Gas Company, Inc. for a purchase price of approximately $226,000 effective December 1, 2007. Penobscot Natural Gas is the parent company of Bangor Gas Company LLC, which operates a natural gas utility in Bangor, Maine.

Richard M. Osborne, Chairman and Chief Executive Officer, stated "We are pleased to complete the acquisition of Penobscot Natural Gas. We feel Bangor Gas presents us with outstanding opportunities for growth because Maine markets remain highly unsaturated, with penetration rates as low as 1%."

About Energy West

Energy West, Incorporated distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes approximately 8.4 billion cubic feet of natural gas to approximately 35,000 customers through regulated and unregulated utilities operating in and around Great Falls and West Yellowstone, in Montana, Cody, Wyoming, Elkin in North Carolina and Bangor, Maine. The Company markets approximately 2.5 billion cubic feet of natural gas to commercial and industrial customers in Montana and Wyoming on an unregulated basis. The Company also has an ownership interest in 165 natural gas producing wells and gas gathering assets. In addition, the Company owns the Shoshone interstate and the Glacier gathering pipelines located in Montana and Wyoming. The Company's Montana public utility was originally incorporated in 1909 and is headquartered in Great Falls, Montana.

Safe Harbor Regarding Forward-Looking Statements

Energy West is including the following cautionary statement in this release to make applicable and to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward- looking statements made by, or on behalf of, Energy West. Forward-looking statements are all statements other than statements of historical fact, including, without limitation, those that are identified by the use of the words "anticipates,""estimates,""expects,""intends,""plans,""predicts,""believes" and similar expressions. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed. Factors that may affect forward-looking statements and the Company's business generally include but are not limited to the Company's continued ability to make dividend payments, the Company's ability to implement its business plan, fluctuating energy commodity prices, the possibility that regulators may not permit the Company to pass through all of its increased costs to its customers, changes in the utility regulatory environment, wholesale and retail competition, weather conditions, litigation risks, risks associated with contracts accounted for as derivatives and various other matters, many of which are beyond the Company's control, the risk factors and cautionary statements made in the Company's public filings with the Securities and Exchange Commission, and other factors that the Company is currently unable to identify or quantify, but may exist in the future. Energy West expressly undertakes no obligation to update or revise any forward-looking statement contained herein to reflect any change in Energy West's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

For additional information or clarification respecting Energy West, please contact: David A. Cerotzke, Vice Chairman of the Board, at 1-406-791-7500.

The Company's toll-free number is 1-800-570-5688. The Company's web address is http://www.energywest.com/. The Company's address is P.O. Box 2229, Great Falls, Montana 59403-2229.

Energy West, Incorporated

CONTACT: David A. Cerotzke, Vice Chairman of the Board of ENERGY WEST,INCORPORATED, +1-406-791-7500, 1-800-570-5688

Web site: http://www.energywest.com/

Source: PRNewswire-FirstCall

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