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Penn West Petroleum Ltd. Message Board

  • al_la_ca@sbcglobal.net al_la_ca Apr 26, 2007 10:45 PM Flag

    Reply I got from Bill Andrew, CEO

    Dear Alan,

    Thank you for your time and suggestions. Currently I am in Toronto at the end of a marketing trip to increase the visibility of PWE. Next week we are at the Money Show in the US. We are working on many fronts to recover from the Halloween shock. Unfortunately, results from our
    efforts are not immediate as there is still great uncertainty in the minds of our retail investors in particular. Currenty we yield over 11 percent
    with a distribution that allows PWE to retain sufficient capital to maintain production. Thus, we are not currently planning any distribution change. As a multi billion dollar entity it is not quite as easy as seeking a buyer, especially with the potential future value to our
    unitholders of our oilsands property. Currently our capital efficiency of 25000 dollars per added flowing barrel of oil when compared to a stock repurchase at 60000 per flowing barrel means that there is better bang for the buck in developing our properties than in repurchasing the stock.
    We continually evaluate other companies for potential acquisition. Hope this helps. Appreciate your concern and interest.

    Sincerely,
    Bill Andrew
    President, CEO

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