Penn West Exploration Announces 2013 First Quarter Dividend

         Penn West Exploration Announces 2013 First Quarter Dividend

PR Newswire

CALGARY, Feb. 14, 2013

CALGARY, Feb. 14, 2013 /PRNewswire/ - PENN WEST PETROLEUM LTD. (TSX - PWT)
(NYSE - PWE) ("PENN WEST") is pleased to announce that the Board of Directors
has declared a first quarter 2013 dividend of $0.27 per share to be paid on
April 15, 2013 to shareholders of record at the close of business on March 28,
2013. Shareholders are advised that this dividend is designated as an
"eligible dividend" for Canadian income tax purposes.

Penn West shares are listed on the Toronto Stock Exchange under the symbol PWT
and on the New York Stock Exchange under the symbol PWE. All dollar amounts
herein are in Canadian Dollars.

SOURCE Penn West Exploration

Contact:

PENN WEST EXPLORATION
Penn West Plaza
Suite 200, 207 - 9^th Avenue SW
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

Murray Nunns, President & Chief Executive Officer
Phone: 403-218-8939
E-mail:murray.nunns@pennwest.com

Clayton Paradis, Manager, Investor Relations
Phone:403-539-6343
E-mail:clayton.paradis@pennwest.com
 
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