Why is Oscar loser Sean Penn smiling?

Wow! Here's something you don't see every day: Sean Penn SMILING!

That big, goofy grin must be because he has a brand-new young blond beauty to make him feel good about life. Ah, fresh love!

The often sour and surly actor-director -- newly split from wife Robin Wright Penn -- didn't appear to be even slightly bitter about the academy's snubbing of his film "Into the Wild."

At last night's Elton John Oscar bash, a noticeably slimmer and darker-haired Penn -- clad in an Armani tux -- looked almost giddy as he walked the red carpet with James Blunt's ex-squeeze, model Petra Nemcova.

Inside the party, the couple reportedly were "extremely affectionate" with each other. Does the phrase "love-struck puppy" ring a bell?

"He was so happy and was singing along and dancing with her to "Philadelphia Freedom," noted one party-goer. "It was like, Is that Sean Penn?" I've never seen him act that happy in public."

But it's not like it's their first date. They were together at the CAA party over the weekend, and People reports that they hit the nightclub Villa too.

To see more of Sean Penn like you've never seen him before, keep reading!

Photos: FilmMagic

This is the face of a happy man!

Photos: WireImage

E-mail

• Digg
• Facebook
• Fark
• Yahoo Buzz
• Stumbleupon