[July 30, 2014]

INVESTOR ALERT: Investigation of Penn West Petroleum Ltd. Announced by Glancy Binkow & Goldberg LLP

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Penn West Petroleum Ltd. ("Penn West" or the "COMPANY") (NYSE:PWE) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company concerning Penn West's operations and financial performance.

Please contact Casey Sadler, Esquire, at (888) 773-9224 or (310) 201-9150, or at [email protected] to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

Pen West is an exploration and production company, which acquires, explores, develops, exploits and holds interests in petroleum and natural gas properties and related assets in Canada and the United States. The investigation is related to the Company's July 29, 2014, announcement that the Audit Committee of the Company's Board of Directors is conducting a voluntary, internal review of certain of Penn West's accounting practices, and the Company anticipates possible delay in reporting second quarter financial results.

According to the Company, the Board of Directors "has concluded that certain of the Company's historical financial statements and related management's discussion and analysis ("MD&A") must be restated, which may result in the release of second quarter 2014 financial results being delayed."

If you purchased Penn West shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by toll-free telephone at (888) 773-9224 or by telephone at (310) 201-9150, by e-mail to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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