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Penn West Exploration Announces Renewal of Its Bank Facility

Jun 28, 2011

CALGARY, ALBERTA--(June 28, 2011) - Penn West Petroleum Ltd. ("Penn West Exploration") (TSX:PWT)(NYSE:PWE) closed the renewal of its unsecured, revolving bank facility on June 27, 2011. The facility has a four-year term, matures June 26, 2015, and includes a syndicate of Canadian and International banks. The facility has an aggregate borrowing limit of $2.25 billion on which Penn West Exploration is currently drawn approximately $900 million. This renewal was jointly led by BMO Capital Markets and Canadian Imperial Bank of Commerce.

Penn West Exploration common shares and debentures are listed on the Toronto Stock Exchange under the symbols PWT and PWT.DB.F and Penn West Exploration common shares are listed on the New York Stock Exchange under the symbol PWE.



FOR FURTHER INFORMATION PLEASE CONTACT:

Penn West Petroleum Ltd.
Suite 200, 207 - 9th Avenue SW
Calgary, Alberta T2P 1K3
403-777-2500 or Toll Free: 1-866-693-2707
403-777-2699 (FAX)
www.pennwest.com
or
Investor Relations
Toll Free: 1-888-770-2633
investor_relations@pennwest.com
or
William Andrew
CEO
403-777-2502
bill.andrew@pennwest.com
or
Jason Fleury
Senior Manager, Investor Relations
403-539-6343
jason.fleury@pennwest.com

 
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