| Penn West Energy Trust (Penn West) is an open-ended investment trust. The Trust's principal undertaking is to issue Trust Units, and to acquire and hold securities of subsidiaries, 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. (PWPL) 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 PWPL. The Trust is a party to NPI Agreements with PWPL and certain other operating entities pursuant to which the Company has the right to receive the NPIs on petroleum and natural gas rights held by PWPL and the other operating entities from time to time. The Trust's production and reserves are attributed to more than 200 producing properties. |
