Penn West Energy Trust

Penn West Energy Trust is the largest conventional oil and natural gas producing income trust in North America. Penn West is an actively managed trust with a large and diversified asset portfolio. Penn West Energy Trust is an open-ended investment trust.
 
Based in Calgary, Alberta, Penn West operates in three core areas throughout the Western Canada Sedimentary Basin.
 
Penn West Petroleum Ltd. converted to Penn West Energy Trust on May 31, 2005, with the units commencing trading on June 2, 2005. Penn West's first distribution as a trust was on July 15, 2005.
 
The Trust?s principal undertaking is to issue Trust Units, and to acquire and hold securities of subsidiaries, trusts and partnerships, net profits interests (NPI), royalties, notes and other interests. Its direct and indirect subsidiaries and partnerships carry on the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and assets related thereto. Penn West Petroleum Ltd. is actively engaged in the business of oil and natural gas exploitation, development, acquisition and production in Canada. The Trust is the sole shareholder of Penn West Petroleum Ltd.
 
Penn West Energy Trust currently trades on the Toronto Stock Exchange under the symbol PWT.UN and on the New York Stock Exchange under the symbol PWE.]]>