Penn West Energy Trust announces the pricing of a proposed

private placement of notes 
PENN WEST ENERGY TRUST (TSX - PWT.UN; NYSE - PWE) announces the pricing of a 
proposed private placement of notes 
CALGARY, April 30 /PRNewswire-FirstCall/ - Penn West Energy Trust ("Penn
West") is pleased to announce it has priced a proposed offering of notes to be
issued on a private placement basis, primarily in the United States, with an
aggregate principal amount of US$480 million plus $30 million in Canadian
dollar denominated notes. 
The private placement consists of US$152.5 million of 6.12% notes due in
2016, US$278 million of 6.30% notes due in 2018, CAD$30 million of 6.16% notes
also due in 2018 and US$49.5 million of 6.40% notes due in 2020. The notes
will be unsecured and rank equally with Penn West's bank facilities and Penn
West's outstanding senior notes issued in May 2007 with an aggregate principal
amount of US$475 million. Subject to the completion of due diligence and the
satisfaction of other customary closing conditions, the note offering is
expected to close on or about May 29, 2008. Penn West intends to use the
proceeds of the note offering to repay a portion of its advances under its
syndicated bank facilities. 
In January 2008, Penn West entered into 10-year U.S. treasury forward
contracts with an aggregate notional principal amount of US$225 million at an
average fixed treasury rate of 3.6778 percent until June 30, 2008. The
contracts were entered into as a hedge against changes in the coupon rate of
these notes that might have resulted from changes in U.S. treasury rates. In
connection with the pricing of the notes, effective today, Penn West settled
these contracts and as a result realized a gain of approximately US$2.4
The notes have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "Securities Act"), and may not be
offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act. 
Penn West Energy Trust is a senior oil and natural gas energy trust based
in Calgary, Alberta. Penn West's trust units and debentures are listed on the
Toronto Stock Exchange under the symbol PWT.UN, PWT.DB.A, PWT.DB.B, PWT.DB.C,
PWT.DB.D, PWT.DB.E and PWT.DB.F and on the New York Stock Exchange under the
symbol PWE. 
Forward looking statements 
In the interest of providing Penn West's unitholders and potential
investors with information regarding Penn West, including management's
assessment of Penn West's future plans and operations, certain statements
contained in this document constitute forward-looking statements or
information (collectively "forward-looking statements") within the meaning of
the "safe harbour" provisions of applicable securities legislation.
Forward-looking statements are typically identified by words such as
"anticipate", "continue", "estimate", "expect", "forecast", "may", "will",
"project", "could", "plan", "intend", "should", "believe", "outlook",
"potential", "target" and similar words suggesting future events or future
performance. In particular, this document contains forward-looking statements
pertaining to, without limitation, the offering size, terms, use of proceeds
and closing date of the proposed debt offering. 
With respect to forward-looking statements contained in this document, we
have made assumptions regarding, among other things: investor demand for Penn
West's notes; the successful completion of due diligence; the timing of
closing the proposed debt offering; and our ability to obtain all necessary
Although Penn West believes that the expectations reflected in the
forward-looking statements contained in this document, and the assumptions on
which such forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct. Readers are
cautioned not to place undue reliance on forward-looking statements included
in this document, as there can be no assurance that the plans, intentions or
expectations upon which the forward-looking statements are based will occur.
By their nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties that contribute to the possibility
that the predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause Penn West's actual performance and
financial results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include, among other
things general economic conditions in Canada, the U.S. and globally, and the
possibility that due diligence may not be completed satisfactorily or that the
closing conditions for the offering are not satisfied or that closing will be
delayed or not occur at all. Readers are cautioned that this list of risk
factors should not be construed as exhaustive. 
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

SOURCE  Penn West Energy Trust 
PENN WEST ENERGY TRUST, Suite 2200, 425-First Street S.W., Calgary, Alberta, 
T2P 3L8, Website:, Toll-free: 1-866-693-2707, Phone: (403) 777-2500, Fax: (403) 777-2699; Investor Relations: William Andrew, CEO, Phone: 
(403) 777-2502, Toll-free: 1-888-770-2633, E-mail:
-0- Apr/30/2008 23:22 GMT
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