2009-08-11-2007-11-01-2008-02-01

Bought co, gaining 2,300 wells producing 6,500 BOE/d (65% gas), 20 oil batteries, 4 gas plants, numerous compressor stations, 120,000 net undeveloped acres at Wimborne, Bigoray, Pembina, Crystal, Westerose.

Penn West Energy Trust, Calgary, (NYSE: PWE; Toronto: PWT) has closed its acquisition of Vault Energy Trust, Calgary, (Toronto: VNG) for approximately C$380 million in stock. Penn West paid 0.14 unit per Vault unit, a 6% premium. Vault assets are in west-central Alberta and northeastern British Columbia, including properties at Wimborne, Bigoray, Pembina, Crystal and Westerose, all near Penn West's core area of light-oil properties. Assets include more than 2,300 wells producing 6,500 barrels equivalent per day (65% gas, 35% light oil and gas liquids), 20 oil batteries, four gas plants, numerous compressor stations and 120,000 net undeveloped acres. Combined, Penn West now has about 3.6 million net undeveloped acres and production up to 136,000 barrels equivalent per day. Scotia Capital Inc. was financial advisor to Vault.