Attention Business Editors:
Penn West Energy Trust and Endev Energy Inc. Announce the Completion of Previously Announced Plan of Arrangement
CALGARY, July 22 /CNW/ - (TSX - PWT.UN; NYSE - PWE) Penn West Energy
Trust ("Penn West") and (ENE - TSX) Endev Energy Inc. ("Endev") are pleased to
announce that the acquisition of Endev by Penn West pursuant to the previously
announced plan of arrangement (the "Arrangement") was completed today.
Under the Arrangement, holders ("Endev Shareholders") of Endev common
shares ("Endev Shares") will receive 0.041 of a Penn West trust unit ("Penn
West Units") for each Endev Share held. The first distribution that former
Endev Shareholders will be eligible to receive from Penn West will be the
distribution payable on or about August 15, 2008 to holders of Penn West Units
("Penn West Unitholders") of record on July 31, 2008, provided such former
Endev Shareholders continue to be Penn West Unitholders as of such record
date.
Letters of transmittal have been forwarded to Endev Shareholders to be
utilized in order to exchange their Endev Shares for Penn West Units and to
receive future distributions on such Penn West Units.
Endev Shares are expected to be de-listed from the Toronto Stock Exchange
("TSX") within a few trading days upon issuance of a bulletin of the TSX
confirming receipt by the TSX of all necessary documents in connection with
the closing of the Arrangement and related matters. Penn West Units will
continue to trade on the TSX under the symbol PWT.UN and on the New York Stock
Exchange under the symbol PWE.
Former Endev Shareholders who are resident in Canada or the United States
and who are interested in participating in the Penn West distribution
reinvestment plan (the "Penn West DRIP") should, if they are now a registered
Penn West Unitholder, complete and deliver an authorization form to CIBC
Mellon Trust Company (Penn West's registrar and transfer agent). If they are
now a beneficial Penn West Unitholder, they should contact their broker,
investment dealer, financial institution or other nominee through which their
Penn West Units are held and provide instructions on how they wish to
participate in the Penn West DRIP. The authorization form for registered Penn
West Unitholders can be obtained at www.pennwest.com.
Penn West Energy Trust is a senior oil and natural gas energy trust based
in Calgary, Alberta. Penn West trust units and debentures are listed on The
Toronto Stock Exchange under the symbols PWT.UN, PWT.DB.C and PWT.DB.E and
Penn West trust units are listed on the New York Stock Exchange under the
symbol PWE.
Forward-looking Statements: Certain information regarding Penn West
Energy Trust, including the payment of distributions on the Penn West Units,
may constitute forward-looking statements under applicable securities law and
necessarily involve risks, including, without limitation, risks associated
with oil and gas exploration, development, exploitation, production, marketing
and transportation, loss of markets, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition, failure to realize the anticipated benefits of the combination,
ability to access sufficient capital from internal and external sources;
failure to obtain required regulatory approvals, changes in legislation,
including but not limited to tax laws and environmental regulations. As a
consequence, actual results may differ materially from those anticipated in
the forward-looking statements. Readers are cautioned that the foregoing list
of factors is not exhaustive. Additional information on these and other
factors that could affect Penn West's operations or financial results are
included in reports on file with applicable securities regulatory authorities
and may be accessed through the SEDAR website (www.sedar.com), the SEC's
website (www.sec.gov) or at Penn West's website (www.pennwest.com).
The forward-looking statements contained in this document speak only as
of the date of this document. Except as expressly required by applicable
securities laws, Penn West does not undertake any obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking statements
contained in this document are expressly qualified by this cautionary
statement.
%SEDAR: 00022266E
%CIK: 0001334388
For further information: PENN WEST ENERGY TRUST, Suite 200, 207 - 9th Avenue
S.W., Calgary, Alberta, T2P 1K3, Phone: (403) 777-2500, Fax: (403) 777-2699,
Toll Free: 1-866-693-2707, Website: www.pennwest.com; Investor Relations: Toll
Free: 1-888-770-2633, E-mail: investor_relations@pennwest.com; William
Andrew, CEO, Phone: (403) 777-2502, E-mail: bill.andrew@pennwest.com; Jason
Fleury, Manager, Investor Relations, Phone: (403) 539-6343, E-mail:
jason.fleury@pennwest.com
.
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Penn West Energy Trust
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CODE : PWE |
ISIN : CA7078871059 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Penn West Energy Trust est une société de production minière et de pétrole basée au Canada. Penn West Energy Trust détient divers projets d'exploration au Canada. Son principal projet en exploration est SWAN HILLS au Canada. Penn West Energy Trust est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 80,7 millions US$ (73,8 millions €). La valeur de son action a atteint son plus haut niveau récent le 29 mai 2009 à 9,98 US$, et son plus bas niveau récent le 01 avril 2020 à 0,15 US$. Penn West Energy Trust possède 504 340 988 actions en circulation. |