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Penn West Petroleum Ltd. has reported that, effective July 5, 2013, Mr. Allan Markin will be stepping down from the Board of Penn West.
On behalf of the Board of Directors, Chairman, Mr. Rick George commented "we appreciate the contributions Al has made to Penn West in the time he was on the Board. We will continue to focus on many of the areas of value enhancement he championed."
Penn West continues to progress its transition plans with the Special Committee of the Board, chaired by Jay Thornton, moving forward on a detailed plan to review company strategy and assets.
In addition, the company's new President and CEO, Dave Roberts, is now in place working detailed asset reviews, capital spending plans, personnel optimization and organizational structure.
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