2009-08-10-2008-07-01-2008-09-01

Bought co., gaining 6.7 MMBOE proved, 3,500 BOE/d.

Penn West Energy Trust, Calgary, (Toronto: PWT.UN; NYSE: PWE) has closed its acquisition of Endev Energy Inc., Calgary, (Toronto: ENE) for approximately C$170 million including debt. Penn West paid 0.041 unit per Endev share, representing C$1.41 per share and an 18.5% premium to the May 20 closing price. The deal is valued at approximately C$49,000 per flowing barrel of oil equivalent, according to Penn West. Endev's primary property is near Majorville in southeastern Alberta with additional operations near Admiral in southwestern Saskatchewan. Current production is approximately 3,500 barrels of oil equivalent per day (78% gas). Total proved reserves are 6.7 million barrels of oil equivalent and 9.8 million proved plus probable. Assets include approximately 100,000 net undeveloped acres. FirstEnergy Capital Corp. is advisor to Endev. Closing is expected by the end of July.