Penn West Energy Trust Files Prospectus Supplement

    CALGARY, June 18 /CNW/ - (TSX-PWT.UN; NYSE-PWE) - Penn West Energy Trust
("Penn West") is pleased to announce that it has filed a Prospectus Supplement
(the "Prospectus Supplement") to its Final Base Shelf Prospectus dated June
13, 2008 (the "Prospectus") with the securities regulatory authorities in each
of the provinces of Canada and a supplement to the U.S. Prospectus dated June
13, 2008 forming part of its Registration Statement with the United States
Securities and Exchange Commission.
    Penn West has entered into an Equity Distribution Agreement dated June
18, 2008 with SG Americas Securities, LLC and FirstEnergy Capital Corp. who
will act as agents for the sale of trust units of Penn West ("Units") by way
of "at-the-market distributions" over the Toronto Stock Exchange, the New York
Stock Exchange and other existing trading markets for the Units in the United
States. Subject to the terms of the Equity Distribution Agreement and
applicable regulatory requirements, up to 20,000,000 Units may be issued and
sold from time to time at the discretion of Penn West over a period of up to
25 months. The Units will be distributed at market prices prevailing at the
time of the sale of such Units (if any) and, as a result, prices may vary as
between purchasers and during the period of distribution. The net proceeds of
such offerings, if any, will be used for general trust purposes, repayment of
indebtedness and/or the direct or indirect financing of future growth
opportunities, including acquisitions and capital expenditures. The volume and
timing of sales, if any, of Units is at the discretion of Penn West.
    The Prospectus and Prospectus Supplement have been filed on SEDAR and the
U.S. Prospectus and the supplement thereto have been filed on the SEC's
website ( Copies of all such documents can be obtained by
contacting Penn West investor relations by email at or toll free telephone at 1-888-770-2633.
    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the Units, nor shall there be any sale of the
Units in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
such jurisdiction.

    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.A, PWT.DB.B, PWT.DB.C,
PWT.DB.D, PWT.DB.E and PWT.DB.F and Penn West trust units are listed on the
New York Stock Exchange under the symbol PWE.

    Advisory Regarding Forward-Looking Statements: Certain statements
contained in this press release 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 press release contains, without limitation,
forward-looking statements pertaining to the following: the volume and timing
of sales of Units that may be sold pursuant to the Prospectus and the
Prospectus Supplement, if any, and the markets over which any such Units may
be sold; and the use of the net proceeds received from any sale of Units
pursuant to the Prospectus and the Prospectus Supplement.
    With respect to forward-looking statements contained in this press
release, we have made assumptions regarding various matters, including the
matters identified in the Prospectus and the Prospectus Supplement. Although
we believe that the expectations reflected in the forward-looking statements
contained in this press release, 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 press
release, 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 our 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 those
identified in the Prospectus and the Prospectus Supplement.
    The forward-looking statements contained in this press release speak only
as of the date of this press release. Except as expressly required by
applicable securities laws, we do 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 press release are expressly qualified by this cautionary

    %SEDAR: 00022266E          %CIK: 0001334388

For further information:

For further information: PENN WEST ENERGY TRUST, Suite 200, 207 - 9th
Avenue S.W., Calgary, Alberta, T2P 1K3, Phone: (403) 777-2500, Toll-free:
1-866-693-2707, Fax: (403) 777-2699; Investor Relations: Phone:
1-888-770-2633, E-mail:, Website:

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