Penn West Energy Trust and Endev Energy Inc. Announce the Completion of Previously...

Penn West Energy Trust and Endev Energy Inc. Announce the Completion of
Previously Announced Plan of Arrangement

CALGARY, July 22 /PRNewswire-FirstCall/ - (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.

SOURCE Penn West Energy Trust

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