Stock Profile: Penn West Petroleum Symbol: PWT (TSE)

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Stats as of 5/11/01

• H/L Ratio: 1.47 • RS: 64.5 • Shares: 52,102,835 • P/E: 7.79 • Price: $44.35

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Penn West is a senior independent Canadian producer of natural gas and oil. 61% of its production is gas. The company's operations are located throughout Alberta and parts of Saskatchewan. The five core areas of its operations include 2.8 million acres of undeveloped land.

The company is Canada's tenth largest independent producer and part of a stable of companies controlled by Calgary financier Murray Edwards.

For the first time in the company's history, cash flow in 2000 was strong enough to fund the company's capital expenditures without having to issue new stock. For the last four quarters, earnings per share have increased over the same period the year before by 211.0%, 104.0%, 192.9%, and 219.7%. Now that's growth!

But the stock's P/E ratio remains a low 7.79 and substantial room for price growth remains. It only broke out to a new 52 week high in March after trading sideways since May 2000, lagging other oil companies which have been hitting new highs for months. Demand for natural gas should remain high throughout the year as many areas of the U.S. continue to experience an energy shortage. Look for share price growth to catch up with earnings growth on this one.

Quarterly Earnings per Share

Annual Earnings per Share