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Press release from CNW Group

Penn West Exploration Announces Renewal of Its Bank Facility

Friday, June 15, 2012

Penn West Exploration Announces Renewal of Its Bank Facility17:19 EDT Friday, June 15, 2012CALGARY, June 15, 2012 /CNW/ - (TSX-PWT; NYSE - PWE) Penn West Petroleum Ltd. ("Penn West Exploration") closed the renewal of its unsecured, revolving bank facility on June 15, 2012. The facility has a four year term maturing on June 30, 2016 and includes a syndicate of Canadian and International banks.  The facility has an aggregate borrowing limit of $3.0 billion.  This renewal was jointly led by BMO Capital Markets and Canadian Imperial Bank of Commerce.Penn West Exploration common shares are listed on the Toronto Stock Exchange under the symbol PWT and on the New York Stock Exchange under the symbol PWE.For further information: PENN WEST EXPLORATION Penn West Plaza Suite 200, 207 - 9th Avenue SW Calgary, Alberta T2P 1K3 Murray Nunns, President & Chief Executive Officer Phone: 403-218-8939 E-mail: murray.nunns@pennwest.com Jason Fleury, Senior Manager, Investor Relations Phone: 403-539-6343 E-mail: jason.fleury@pennwest.com Investor Relations: Toll Free: 1-888-770-2633 E-mail: investor_relations@pennwest.com Phone: 403-777-2500 Fax: 403-777-2699 Toll Free: 1-866-693-2707 Website: www.pennwest.com