8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 24, 2006

CanWest Petroleum Corporation

(Exact name of registrant as specified in its charter)

Colorado	0-27659	98-0461154
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

206 - 475 Howe Street, Vancouver, British Columbia, Canada	V6C 2B3
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (604) 685-8355

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01  —  Regulation FD Disclosure

         On March 24, 2006, the Registrant issued the press release attached hereto as Exhibit 99.1.

Item 8.01  —  Other Events

        On March 24, 2006, the Registrant issued the press release attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1Press Release dated March 24, 2006.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CanWest Petroleum Corporation
		(Registrant)
Date: March 24, 2006	By:	/s/ Thornton Donaldson
		Name: Thornton Donaldson
		Title: President

EX-99.1

Exhibit 99.1

NEWS RELEASE Trading Symbol: OTC BB CWPC Cusip # 138748 10

ENGAGEMENT OF TD SECURITIES

AS ITS FINANCIAL ADVISOR

March 24, 2006, Calgary, Alberta:CanWest Petroleum Corporation is pleased to announce that it has retained TD Securities Inc. to act as its exclusive financial advisor and assist in the analysis and consideration of corporate and financial structures that will best allow CanWest to execute its oil sands exploration and development program. Thornton Donaldson, President and Chairman of CanWest, said “We are very pleased to have TD Securities involved, as they are the recognized leader in providing financial advisory services to development stage oil sands companies, and we look forward to their assistance in creating further value for our shareholders.”

In addition, CanWest Petroleum has made application to be listed on a Senior American Stock Exchange.

For more information or to request company updates please visit www.canwestpetroleum.com .

Contacts: Jonathan Buick 1-877 -748 -0914 or 416 -915- 0915

Company Contacts Toll Free: 1-800-877-1626 or (888) 858-7759

Email to: investor@canwestpetroleum.com

The statements in this press release include forward looking statements that are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate in the circumstances.  Such statements are subject to a number of assumptions, risks and uncertainties, including such factors as the volatility and level of oil and natural gas prices, uncertainties in cash flow, unexpected acquisition benefits, production rates and reserve replacement, reserve estimates, drilling and operating risks, competition, litigation, environmental matters, the potential impact of government regulations, and other matters, many of which are beyond our control.  Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Please see the Company’s filings with the Securities and Exchange Commission for a comprehensive discussion of these factors.