Penn West Energy Trust Provides 2009 Income Tax Information to Penn West Unitholders
CALGARY, ALBERTA–(Marketwire – Feb. 8, 2010) – Penn West Energy Trust (TSX:PWT.UN) (NYSE:PWE) (”Penn West”) is gratified to yield 2009 taxation report on distributions to Penn West unitholders proprietor in Canada and the United States.
The following report is supposing to support sold unitholders with 2009 income taxation reporting. It is not dictated to consecrate authorised or taxation recommendation to any sold hilt of Penn West units. Readers should deliberate with their authorised or taxation advisors as to their sold taxation consequences of land Penn West units.
Further taxation report in the form of specific taxation letters environment onward the taxability of Penn West distributions on a monthly basement for Canadian and U.S. residents is accessible on Penn West’s website at www.pennwest.com. If you would identical to a duplicate of the 2009 taxation report for Penn West, greatfully hit Investor Relations at 1-888-770-2633 or by e-mail at investor_relations@pennwest.com.
2009 Canadian Tax Information
For the 2009 taxation year, Penn West has dynamic which the distributions perceived by Canadian proprietor Penn West unitholders have been 100 percent taxable as “other income” with no lapse of capital.
2009 U.S. Tax Information
In conference with the U.S. taxation advisors, Penn West believes which the units of Penn West some-more expected than not will be scrupulously personal as equity in a corporation, rsther than than debt, for U.S. sovereign income taxation purposes, and which distributions paid to the sold U.S. unitholders will some-more expected than not be “Qualified Dividends” underneath the Jobs and Growth Tax Relief Reconciliation Act of 2003. There have been sure sold resources where the distributions might not be Qualified Dividends (such as situations where sold unitholders do not encounter a land duration test). As such, the apportionment of the distributions done during 2009 which have been deliberate dividends should validate for the marked down rate of taxation germane to sure collateral gains with apply oneself to authorised sold unitholders.
Provided the 2009 Penn West distributions have been deliberate to be competent dividends as remarkable above, Penn West has dynamic which 100 percent of distributions paid during the year will be taxable for U.S. taxation purposes as “qualified dividends” with no lapse of capital.
Forward-Looking Statements
Certain statements contained in this request consecrate forward-looking statements or report (collectively “forward-looking statements”) inside of the definition of the “safe harbour” supplies of germane bonds legislation. Forward-looking statements have been typically identified by difference such as “anticipate”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “could”, “plan”, “intend”, “should”, “believe”, “outlook”, “potential”, “target” and identical difference suggesting destiny events or destiny performance. In particular, this request contains forward-looking statements per to, but limitation, the following: the inlet of the distributions paid by Penn West to Canadian proprietor unitholders in 2009 for Canadian income taxation stating purposes; the scold sequence of Penn West’s certitude units for U.S. sovereign income taxation purposes; and the inlet of the distributions paid by Penn West to U.S. proprietor unitholders in 2009 for U.S. income taxation stating purposes.
With apply oneself to forward-looking statements contained in this document, we have done assumptions regarding, between alternative things, the delay of stream Canadian and U.S. income taxation legislation and the understand thereof as it relates to the characterization of the certitude units and the distributions paid thereon by germane taxation authorities. Although we hold which the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements have been made, have been reasonable, there can be no declaration which such expectations will infer to be correct. Readers have been cautioned not to place unjustified faith on forward-looking statements enclosed in this document, as there can be no declaration which the plans, intentions or expectations on which the forward-looking statements have been formed will occur. By their nature, forward-looking statements engage countless assumptions, well known and different risks and uncertainties which minister to the probability which the predictions, forecasts, projections and alternative forward-looking statements will not occur, which might means the tangible opening and monetary formula in destiny durations to talk about materially from any estimates or projections of destiny opening or formula voiced or pragmatic by such forward-looking statements. These risks and uncertainties include, between alternative things: the probability of changes (which might be retroactive) in existent Canadian and U.S. income taxation legislation and/or the understand thereof as it relates to the characterization of the certitude units and the distributions paid thereon by germane taxation authorities; and the alternative factors described in the open filings (including the Annual Information Form) accessible in Canada at www.sedar.com and in the United States at www.sec.gov. Readers have been cautioned which this list of risk factors should not be construed as exhaustive. The forward-looking statements contained in this request verbalise usually as of the date of this document. Except as specifically compulsory by germane bonds laws, we do not commence any requisite to publicly refurbish or correct any forward-looking statements, either as a outcome of brand new information, destiny events or otherwise. The forward-looking statements contained in this request have been specifically competent by this cautionary statement.
Penn West certitude units and debentures have been listed on the Toronto Stock Exchange underneath the black PWT.UN, PWT.DB.C, PWT.DB.D, PWT.DB.E and PWT.DB.F and Penn West certitude units have been listed on the New York Stock Exchange underneath the pitch PWE.
