13D Filing: FrontFour Capital Group and Penn West Petroleum Ltd. (PWE)

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(f)       Messrs.
Loukas, Lorber, George, Goldfarb, Evans and Faust are citizens of the United States of America. The citizenship of the persons
listed on Schedule A is set forth therein.

Item 3. Source and Amount of Funds or Other Consideration.

Item 3 is hereby amended
and restated as follows:

The Shares and call
options purchased by each of the Master Fund and the Canadian Fund, the Shares and call options held in the Separately Managed
Accounts and the Shares purchased by the Energy Fund, were purchased with working capital (which may, at any given time, include
margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 21,217,195 Shares
owned directly by the Master Fund is approximately $23,948,654, including brokerage commissions. The aggregate purchase price of
the call options exercisable into 2,724,800 Shares owned directly by the Master Fund is approximately $548,267, including brokerage
commissions. The aggregate purchase price of the 533,500 Shares owned directly by the Canadian Fund is approximately CAD$1,123,633,
including brokerage commissions. The aggregate purchase price of the call options exercisable into 67,900 Shares owned directly
by the Canadian Fund is approximately $13,654, including brokerage commissions. The aggregate purchase price of the 4,764,357 Shares
held in the Separately Managed Accounts is approximately $8,788,687, including brokerage commissions. The aggregate purchase price
of the call options exercisable into 607,300 Shares held in the Separately Managed Accounts is approximately $125,588, including
brokerage commissions. The aggregate purchase price of the 588,000 Shares owned directly by the Energy Fund is approximately CAD$974,526,
including brokerage commissions. The aggregate purchase price of the 254,650 Shares owned directly by Mr. Loukas is approximately
$298,226, including brokerage commissions, and were purchased with personal funds. The aggregate purchase price of the 600,000
Shares owned directly by Mr. Lorber is approximately $836,705, including brokerage commissions, and were purchased with personal
funds. The aggregate purchase price of the 124,500 Shares owned directly by Mr. Goldfarb is approximately $342,375, including brokerage
commissions, and were purchased with personal funds.

Item 4. Purpose of Transaction.

Item 4 is hereby amended
to add the following:

On March 20, 2018,
the Master Fund issued a press release announcing its intent to nominate Messrs. Loukas, Goldfarb, Evans and Faust for election
to the Board of Directors of the Issuer at its 2018 annual meeting of stockholders (the “2018 Annual Meeting”). A copy
of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 5. Interest in Securities of the Issuer.

Items 5(a)-(c) are
hereby amended and restated as follows:

(a)
The aggregate percentage of Shares reported owned by each person named herein is based upon 504,340,988 Shares outstanding
as of December 31, 2017, which is the total number of Shares outstanding as reported in the Issuer’s Form 40-F filed with
the Securities and Exchange Commission on March 8, 2018.

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