Penn West at a Glance

To view a pdf of Penn West's profile, please click here.

To view a pdf of the most recently quarterly report in full, please click here.

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Exchange		Symbol		52 Wk. Hi/Low*
Toronto Stock Exchange:		PWT.UN		$38.33/$24.45
New York Stock Exchange:		PWE		$36.05/$23.52
Yield*:		Approximately 12%
Units Outstanding (millions):		376
Distributions:		CDN$4.08/year
Market Cap.:		~CDN$13 billion

*As of May 20, 2008.

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COMPANY OVERVIEW

Penn West Energy Trust is the largest conventional oil and natural gas producing income trust in North America. Based in Calgary, Alberta, Penn West operates throughout the Western Canadian Sedimentary Basin. Penn West’s estimated production for 2008 is in the range of 195-205 mboe per day, of which just under half was natural gas.

In May 2005 Penn West Petroleum Ltd. converted from a senior independent exploration and production company into an income trust. The opening June 2005 cash distribution rate to unitholders was $0.26 CDN per unit monthly, and was payable in July. In November 2005, the Trust increased the monthly distribution rate to $0.31 CDN per unit and again in February, 2006 to $0.34 CDN per unit.

Penn West is an actively managed trust with a large and diversified asset portfolio, experienced and specialized technical teams, and an extensive inventory of internal opportunities. Penn West’s management team is committed to a strategy of distributions stability and maximizing value for unitholders over the long term.

Penn West has considerable interests in large light/medium oil pools, an extensive in situ oil sands project under early stages of development, and a large inventory of enhanced oil recovery opportunities. The Trust conducts a substantial capital program funded by retaining a proportion of cash flow. Additionally, Penn West’s extensive undeveloped land inventory of approximately 4.1 million net acres creates a source of additional value through land monetization, farm-outs and exploration joint ventures.