Penn West Energy Trust is an open-ended, unincorporated investment trust. The purpose of the Trust is to indirectly explore for, develop and hold interests in petroleum and natural gas properties, through investments in securities of subsidiaries and royalty interests in oil and natural gas properties. As of Dec 31 2005, Co. had total light and medium oil proved reserves consisting of 134,172 mbbl gross; heavy oil proved reserves consisting of 49,797 mbbl gross; natural gas proved reserves consisting of 134,648 mmcf gross; natural gas liquids proved reserves consisting of 2,890 mbbl gross; and total oil equivalents proved reserves consisting of 67,261 mboe gross.
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