Dennis Geherman Announces Acquisition of Trust Units of PetroWest Energy Services Trust

Dennis Geherman announced that Geherman acquired ownership over 627,000 trust units of PetroWest Energy Services Trust on December 4, 2008 and ownership over 845,000 trust units on December 19, 2008 (collectively, the “Acquired Units”), representing approximately 4.5% of PetroWest’s issued and outstanding units. Geherman, together with persons who may be joint actors, owns or has control over 5,051,902 units (which includes 50,000 subordinated units which may be converted into trust units after December 31, 2008 upon certain conditions being met, as disclosed in PetroWest’s public disclosure documents) or 15.3% of the 32,926,308 issued and outstanding units of PetroWest.

The acquisition of the Acquired Units took place through the facilities of the Toronto Stock Exchange. The trust units were acquired for investment purposes. Geherman may acquire additional trust units of PetroWest, depending on market conditions and in compliance with applicable law.

Geherman will be filing a report (as contemplated by National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues) in connection with the acquisition of the Acquired Units.