Distribution FAQs

1. What is Penn West's distribution amount as a percentage of cash flow and how often is it distributed?
Penn West has established a target to distribute approximately 67-72 percent of its cashflow to unitholders with the remaining amount reinvested in exploitation, acquisitions and development projects. Due to fluctuation in the Trust’s cashflow, the actual ratio will vary from time to time. The distributions are paid monthly.

2. What is the taxability of Penn West’s distributions for 2007?
For 2007, Penn West Energy Trust estimates the distributions will be nearly 100 percent taxable with minimal return of capital. The exact tax breakdown between return of capital and taxable income will be available in February.

3. How are distributions paid out and whom do I contact if I have not received my distributions?
Distributions are sent out on the distribution payment date either directly to the unitholder (in the form of a cheque) if the units are registered in the name of the unitholder, or to the brokerage house or investment firm that manages the account of a beneficial unitholder. Your brokerage house or investment firm then deposits the funds into your account.

If you are a registered unitholder and you did not receive your distribution, please contact our transfer agent, CIBC Mellon at 1-800-387-0825. If you hold your units with a brokerage house or investment firm, please contact your account manager/broker.

4. What do the terms distribution date, record date and ex-distribution date refer to?
The distribution payment date is the date the trust sends cash distributions to unitholders (either directly to the unitholder if they are the registered unitholder, or to the brokerage or investment company that manages the beneficial trust unitholders' account).

The record date is the date by which a person must on record as being a unitholder in order to receive the next distribution. As it typically takes three business days for a trade to settle in your account, you must purchase the units three business days prior to the record date to ensure you are a unitholder of record.

The ex-distribution date is generally two business days prior to the record date. Unitholders who have purchased their trust units before the ex-distribution date are entitled to the declared distribution paid on the distribution date the following month.