The reports suggest that Penn had checked into the Sunset Tower Hotel in West Hollywood on November 14 with a woman in her 20s, reported the New York Post.
In fact, the women was Theron, 39, who went to the hotel for some alone time with Penn, away from her two-year-old son Jackson and her mother Gerda, who was visiting from South Africa.
"She was thrilled with the story. She said, 'Cool. I'm in my 20s'," a close friend of the couple said.
The 1983 classic also stars Mel Gibson and Sigourney Weaver.