04:00 PM EST - Penn West Energy Trust : announced an arrangement agreement to acquire Reece Energy Exploration Corp. for an estimated sum of $92.2 million. As per the agreement, each Reece share will be exchanged for 0.125 of a Penn West trust unit. The deal amount also takes Reece's assumed debt into consideration. Based on the volume weighted average trading prices of Penn West's units and Reece's shares during the 20 trading days ended on March 9, the exchange ratio equates a price of $1.39 per Reece share and represents a 50-per-cent premium to Reece's closing trading price on this date. Penn West Energy Trust
shares T.PWT.UN are trading up $0.56 at $9.57.
