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| £ | Registration statement pursuant to Section 12 of the Securities Exchange Act of 1934 |
|--------|--------------------------------------------------------------------------------------|

| T | Annual report pursuant to section 13(a) or 15(d) of the Securities Exchange Act of 1934 |
|---|-----------------------------------------------------------------------------------------|

| Alberta, Canada                                                   |   | 1311                                                                     |   | Not applicable                                          |
|-------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|---------------------------------------------------------|
| (Province or other jurisdiction of incorporation or organization) |   | (Primary Standard Industrial Classification Code Number (if applicable)) |   | (I.R.S. Employer Identification Number (if Applicable)) |

| Title of each class | Name of each exchange on which registered |
|---------------------|-------------------------------------------|
| Trust Units         | New York Stock Exchange                   |

| T Annual Information Form | T Audited Annual Financial Statements |
|---------------------------|---------------------------------------|

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|   | (a) | Annual Information Form for the fiscal year ended December 31, 2009; |
|--------|-----|----------------------------------------------------------------------|

|   | (b) | Management’s Discussion and Analysis of Financial Condition and Results of Operations for the fiscal year ended December 31, 2009; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Consolidated Financial Statements for the fiscal year ended December 31, 2009; and |
|--------|-----|------------------------------------------------------------------------------------|

|   | (d) | Supplemental Note to the Consolidated Financial Statements relating to the reconciliation of Canadian and United States Generally Accepted Accounting Principles. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (a) | Certifications.  See Exhibits 99.5, 99.6, 99.7 and 99.8 to this Annual Report on Form 40-F. |
|-----|-------------------------------------------------------------------------------------------------------|

| (b) | Disclosure Controls and Procedures.  As of the end of Penn West Energy Trust’s (“Penn West”) fiscal year ended December 31, 2009, an evaluation of the effectiveness of Penn West’s “disclosure controls and procedures” (as such term is defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) was carried out by the management of Penn West Petroleum Ltd., the administrator of Penn West, with the participation of the Chief Executive Officer (“CEO”) and the Executive Vice President and Chief Financial Officer (“CFO”) of Penn West Petroleum Ltd., who also perform such functions for Penn West.  Based upon that evaluation, the CEO and CFO have concluded that as of the end of that fiscal year, Penn West’s disclosure controls and procedures are effective to ensure that information required to be disclosed by Penn West in reports that it files or submits under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms and (ii) accumulated and communicated to Penn West’s management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | Management’s Annual Report on Internal Control Over Financial Reporting. |
|-----|--------------------------------------------------------------------------------|

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| (d) | Attestation Report of the Registered Public Accounting Firm.  The required disclosure is included in the Report of Independent Registered Public Accounting Firm on Penn West’s internal control over financial reporting that accompanies Penn West’s Consolidated Financial Statements for the fiscal year ended December 31, 2009, filed as Exhibit 99.3 to this Annual Report on Form 40-F. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | Changes in Internal Control Over Financial Reporting.  During the fiscal year ended December 31, 2009, Penn West implemented changes to its internal control over financial reporting as it relates to the ceiling test calculation under US GAAP.  There were no other changes in Penn West’s internal control over financial reporting that occurred during the fiscal year ended December 31, 2009 that have materially affected, or are reasonably likely to materially affect, Penn West’s internal control over financial reporting. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (CDN$)             |   | 2009   |      |   | 2008   |   |
|--------------------|--------|--------|-----------|--------|--------|--------|
| Audit Fees         |   |   | 1,220,000 |   |   |   | 1,550,000 |   |
| Audit-Related Fees |   |   | 530,000   |   |   |   | 562,500 |   |
| Tax Fees           |   |   | 9,155     |   |   |   | 3,712 |   |
| All Other Fees     |   |   | -         |   |   |   | - |   |
| Total              |   |   | 1,759,155 |   |   |   | 2,116,212 |   |

| (a) | The terms of the engagement of Penn West’s external auditors to provide audit services, including the budgeted fees for such audit services and the representations and disclaimers relating thereto, must be pre-approved by the entire audit committee. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (b) | Of the fees reported in this Annual Report on Form 40-F under the heading “Principal Accountant Fees and Services”, none of the fees billed by KPMG LLP were approved by Penn West’s audit committee pursuant to the de minimus exception provided by Section (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (CDN$ millions)                  |   |   |   |   | Payment due by period |   |
|----------------------------------|--------|--------|--------|--------|-----------------------|--------|
| Contractual Obligations          |   | Total  |   |   | Less than 1 Year      |   |   | 1 to 3 Years |   |   | 3 to 5 Years |   |   | More than 5 Years |   |
| Transportation                   |   |   | 55     |   |                  |   | 24 |   |   |   | 22 |   |   |   | 6 |   |   |   | 3 |   |
| Power Infrastructure             |   |   | 53     |   |                  |   | 21 |   |   |   | 14 |   |   |   | 14 |   |   |   | 4 |   |
| Drilling rigs                    |   |   | 15     |   |                  |   | 12 |   |   |   | 3 |   |   |   | - |   |   |   | - |   |
| Purchase obligations (1)         |   |   | 81     |   |                  |   | 13 |   |   |   | 26 |   |   |   | 23 |   |   |   | 19 |   |
| Office lease (2)                 |   |   | 930    |   |                  |   | 56 |   |   |   | 141 |   |   |   | 128 |   |   |   | 605 |   |
| Long term debt (3)(4)            |   |   | 3,219  |   |                  |   | - |   |   |   | 1,874 |   |   |   | 67 |   |   |   | 1,278 |   |
| Asset retirement obligations (5) |   |   | 2,355  |   |                  |   | 57 |   |   |   | 114 |   |   |   | 114 |   |   |   | 2,070 |   |
| Total                            |   |   | 6,708  |   |                  |   | 183 |   |   |   | 2,194 |   |   |   | 352 |   |   |   | 3,979 |   |

| (1) | These amounts represent estimated commitments of $62 million for CO2 purchases and $19 million for processing fees related to interests in the Weyburn Unit. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Future office lease commitments will be reduced by sublease revoceries of $397 million. |
|-----|-----------------------------------------------------------------------------------------|

| (3) | Approval to extend the revolving period must be obtained from the banking syndicate by January 2011. Penn West is currently in the process of renewing its credit facility with its bank syndicate and believes it will be successful in renewing its credit facility on acceptable terms prior to the date of expiry Penn West and its predecessor have successfully extended its credit facility on each renewal date since 1992. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Interest payments have not been included since future debt levels and rates are not known at this time. |
|-----|---------------------------------------------------------------------------------------------------------|

| (5) | These amounts represent the undiscounted future reclamation and abandonment costs that are expected to be incurred over the life of the properties. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

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| A. | Undertaking. |
|----|--------------|

|   | Penn West undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Securities and Exchange Commission (the “Commission”) staff, and to furnish promptly, when requested to do so by the Commission staff, information relating to:  the securities registered pursuant to Form  40-F; the securities in relation to which the obligation to file an annual report on Form 40-F arises; or transactions in said securities. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| B. | Consent to Service of Process. |
|----|--------------------------------|

|   | Penn West has previously filed a Form F-X in connection with the class of securities in relation to which the obligation to file this report arises. Any change to the name or address of the agent for service of process of Penn West shall be communicated promptly to the Commission by an amendment to the Form F-X referencing the file number of Penn West. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Pursuant to the requirements of the Exchange Act, Penn West certifies that it meets all of the requirements for filing on Form 40-F and has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized, on March 18, 2010. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | PENN WEST ENERGY TRUST |
|--------|------------------------|
|   | By:                    | Penn West Petroleum Ltd., its administrator |
|   |                   |   |
|   |                   |   |
|   | By:                    | /s/ William E. Andrew |
|   | Name:             | William E. Andrew |
|   | Title:                 | Chief Executive Officer |

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| Exhibit |   | Description                                                                                                                                                      |
|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                                             |
| 99.1    |   | Annual Information Form for the fiscal year ended December 31, 2009                                                                                              |
|    |   |                                                                                                                                                             |
| 99.2    |   | Management’s Discussion and Analysis of Financial Condition and Results of Operations for the fiscal year ended December 31, 2009                          |
|    |   |                                                                                                                                                             |
| 99.3    |   | Consolidated Financial Statements for the fiscal year ended December 31, 2009                                                                                    |
|    |   |                                                                                                                                                             |
| 99.4    |   | Supplemental Note to the Consolidated Financial Statements relating to the reconciliation of Canadian and United States Generally Accepted Accounting Principles |
|    |   |                                                                                                                                                             |
| 99.5    |   | Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934                                             |
|    |   |                                                                                                                                                             |
| 99.6    |   | Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934                                             |
|    |   |                                                                                                                                                             |
| 99.7    |   | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350                                                                                      |
|    |   |                                                                                                                                                             |
| 99.8    |   | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350                                                                                      |
|    |   |                                                                                                                                                             |
| 99.9    |   | Consent of KPMG LLP                                                                                                                                              |
|    |   |                                                                                                                                                             |
| 99.10   |   | Comments by Auditors for United States Readers on Canada – United States Reporting Differences                                                             |
|    |   |                                                                                                                                                             |
| 99.11   |   | Consent of GLJ Petroleum Consultants Ltd.                                                                                                                        |
|    |   |                                                                                                                                                             |
| 99.12   |   | Consent of Sproule Associates Limited                                                                                                                            |

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