Common use of Outstanding AFEs Clause in Contracts

Outstanding AFEs. There are no outstanding authorizations for expenditure pertaining to any of the Penn West Parties’ oil and gas assets or any other commitments, approvals or authorizations pursuant to which an expenditure may be required to be made in respect of such assets after the date of the most recent Penn West Financial Statements in excess of $5 million for each such commitment, approval or authorization other than pursuant to the 2006 capital budget disclosed in writing to Petrofund.

Outstanding AFEs. There are no outstanding authorizations for expenditure pertaining to any of the Penn West Petrofund Parties’ oil and gas assets or any other commitments, approvals or authorizations pursuant to which an expenditure may be required to be made in respect of such assets after the date of the most recent Penn West Petrofund Financial Statements in excess of $5 2.5 million for each such commitment, approval or authorization other than pursuant to the 2006 capital budget disclosed in writing to PetrofundPenn West.

Outstanding AFEs. There are no outstanding authorizations for expenditure pertaining to any of the Penn West Parties’ West’s oil and gas assets or any other commitments, approvals or authorizations pursuant to which an expenditure may be required to be made in respect of such assets after the date of the most recent Penn West Financial Statements in excess of $5 25 million for each such commitment, approval or authorization other than pursuant to the 2006 2007 capital budget disclosed in writing to PetrofundCanetic prior to the date hereof.