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Penn West Announces Voting Results from the 2014 Annual General Meeting of Shareholders

Jun 4, 2014

CALGARY, June 4, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST") ") is pleased to announce that at its Company's annual general meeting of shareholders held on June 4, 2014, Penn West's shareholders approved all resolutions outlined in the Notice of 2014 Annual General Meeting and Management Proxy Circular dated May 1, 2014.

1. Appointment of Auditor

By resolution passed by show of hands, KPMG LLP, Chartered Accountants, was appointed as auditor of Penn West for the ensuing year.

2. Election of Directors

By resolutions passed by ballot vote, the following eight nominees proposed by management were elected as directors of the Corporation to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed:

Name of Nominee   Votes For   Percent   Votes Withheld   Percent
                 
James E. Allard   219,161,289   96.32%   8,362,070   3.68%
George H. Brookman   224,128,624   98.51%   3,394,735   1.49%
John Brydson   225,263,067   99.01%   2,260,292   0.99%
Gillian H. Denham   218,655,517   96.10%   8,867,842   3.90%
Richard L. George   219,106,074   96.30%   8,417,285   3.70%
David E. Roberts   225,288,216   99.02%   2,235,143   0.98%
James C. Smith   219,473,288   96.46%   8,050,071   3.54%
Jay W. Thornton   219,572,125   96.51%   7,951,235   3.49%
                 

3. Non-Binding Advisory Vote on the Corporation's Approach to Executive Compensation

By resolution passed by ballot vote, an advisory resolution was passed to approve the Corporation's approach to executive compensation as outlined in the Information Circular.  The results of the ballot were as follows:

Votes For   Percent   Votes Withheld   Percent
196,993,227   86.59%   30,518,041   13.41%

 

Penn West is one of the largest conventional oil and natural gas producers in Canada. Our goal is to be the company that redefines oil & gas excellence in western Canada. Based in Calgary, Alberta, Penn West operates a significant portfolio of opportunities with a dominant position in light oil in Canada on a land base encompassing approximately five million acres.

Penn West shares are listed on the Toronto Stock Exchange under the symbol PWT and on the New York Stock Exchange under the symbol PWE.

 

SOURCE Penn West

For further information:

PENN WEST
Penn West Plaza
Suite 200, 207 - 9th Avenue SW
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

Clayton Paradis, Manager, Investor Relations
Phone:  403-539-6343
E-mail: clayton.paradis@pennwest.com

 
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