It was in 2002 that the British Board of Film Classification banned a scene from British Cum Queens due to its scene of female ejaculation and their opinion that it does not exist. There has been much speculation about whether women can actually orgasm with ejaculate and no conclusive evidence either way to its possibility.
The New Scientist has written an article based on its research and concludes that female ejaculation is indeed possible in a few. There have been (including the Kama Sutra) which state a female semen does exist, although it has always been debated that this is in fact urine and down to female incontinence during sex.
It seems that the best way to try and experience female ejaculation is to massage the g-spot using your finger or sex toy and whether you orgasm with a squirt or not the feeling will still be pleasurable!
Read about female ejaculation at the New Scientist and make up your own mind.