Penn West Exploration Announces Voting Results from the 2013 Annual and Special Meeting of Shareholders

CALGARY, June 6, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST") is pleased to announce that its shareholders approved all resolutions outlined in the Notice of 2013 Annual and Special Meeting and Management Proxy Circular dated May 6, 2013 (the "Information Circular") at its Annual and Special Meeting held on June 5, 2013 (the "Meeting").

1. Appointment of Auditor

By resolution passed by show of hands, KPMG LLP, Chartered Accountants, was appointed auditor of Penn West for the ensuing year.

2. Election of Directors

By resolutions passed by ballot vote, the following eleven nominees proposed by management were elected as directors of Penn West to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed:

Name of Nominee			Votes For				Percent		Votes Withheld		Percent
James E. Allard			174,019,243				80.71%		41,596,184		19.29%
George H. Brookman			165,317,712				76.68%		50,284,763		23.32%
Gillian H. Denham			206,849,150				95.94%		8,750,792		4.06%
Richard L. George			210,698,146				97.72%		4,922,349		2.28%
Daryl H. Gilbert			171,587,211				79.58%		44,021,538		20.42%
Allan P. Markin			211,766,828				98.21%		3,851,937		1.79%
Murray R. Nunns			198,471,171				92.07%		17,105,887		7.93%
Frank Potter			206,403,159				95.74%		9,193,212		4.26%
Jack Schanck			206,811,969				95.92%		8,794,783		4.08%
James C. Smith			206,987,547				96.00%		8,621,473		4.00%
Jay W. Thornton			209,074,418				96.97%		6,534,502		3.03%

3. Non-Binding Advisory Vote on Approach to Executive Compensation

By resolution passed by ballot vote, an advisory resolution was passed to approve Penn West's approach to executive compensation as outlined in the Information Circular.  The results of the ballot were as follows:

Votes For			Percent			Votes Against			Percent
197,561,184			91.61%			18,092,835			8.39%

4. Approval of Unallocated Options Pursuant to the Stock Option Plan

By resolution passed by ballot vote, all unallocated options to acquire common shares under Penn West's stock option plan until June 5, 2016 were approved.  The results of the ballot were as follows:

Votes For			Percent			Votes Against			Percent
188,295,828			87.31%			27,362,007			12.69%

5. Approval of Stock Option Plan Amendment

By resolution passed by ballot vote, an amendment to the amending provisions of Penn West's stock option plan was approved.  The results of the ballot were as follows:

Votes For			Percent			Votes Against			Percent
195,995,724			90.88%			19,659,177			9.12%

6. Approval of Advanced Notice By-Law

By resolution passed by ballot vote, By-Law No. 2 of Penn West relating to the advance notice of nominations of directors was approved.  The results of the ballot were as follows:

Votes For			Percent			Votes Against			Percent
171,625,886			79.58%			44,028,138			20.42%

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.  

 

 

 

 

SOURCE: Penn West Exploration

PENN WEST EXPLORATION
Penn West Plaza
Suite 200, 207 - 9^th Avenue SW
Calgary, Alberta  T2P 1K3

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Website: www.pennwest.com 

Investor Relations:
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E-mail: [email protected]

Murray Nunns, President & Chief Executive Officer
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Clayton Paradis, Manager, Investor Relations 
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