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Post# of 648882
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Tuff-Stuff

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Tuff-Stuff

Re: None

Wednesday, 07/30/2014 8:16:52 AM

Wednesday, July 30, 2014 8:16:52 AM

Post# of 648882
PWE<>Penn West -9% after revealing accounting irregularities

Penn West (NYSE:PWE) -9.3% premarket after reporting details of accounting irregularities and launches a review of its financial statements dating back four-and-a-half years, adding that its historical financial documents for the period under review are not reliable.
PWE says the voluntary accounting review could force it to reduce its budget and royalty expense expectations for 2014 and increase its operating cost predictions.
The release of Q2 earnings results may be delayed because of the review.
Also, PWE reports Q2 production of ~108K boe/day (64% oil and liquids) and maintains 2014 production guidance of 101K-106K boe/day.

Pray for A Pain Free Day!

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