Penn West Announces 2014 First Quarter Dividend

CALGARY, Alberta, March 7, 2014 /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 2014 dividend of $0.14 per share to be paid on April 15, 2014 to shareholders of record at the close of business on March 31, 2014. 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.

For further information:

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: http://www.pennwest.com

Investor Relations:    
Toll Free: 1-888-770-2633
E-mail: [email protected]
Clayton Paradis, Manager, Investor Relations
Phone: +1-403-539-6343
E-mail: [email protected]

SOURCE Penn West