NASDAQ Listing Panel Grants Petroleum Development Corporation's Continued Listing

BRIDGEPORT, W.Va., Jan. 18  /PRNewswire-FirstCall/ -- Petroleum Development Corporation (NASDAQ:PETDE) announced today that the NASDAQ Listing Qualifications Panel has notified the Company that the Company has regained compliance with NASDAQ filing requirements and evidenced compliance with all NASDAQ Marketplace Rules.  Accordingly, the Panel determined to continue the listing of the Company's securities on the NASDAQ National Market.

Effective with the opening of business on Friday, January 20, 2006, the Company's trading symbol will be changed from PETDE to PETD.

About Petroleum Development Corporation

Petroleum Development Corporation (http://www.petd.com/) is an independent energy company engaged in the development, production and marketing of natural gas. The Company's operations are focused in the Rocky Mountains with additional operations in the Appalachian Basin and Michigan.  During the third quarter of 2004, the Company was added to the S&P SmallCap 600 Index.  Additionally, PDC was added to the Russell 3000 Index of companies in 2003.  PDC was named on the FSB: Fortune Small Business Magazine list of America's 100 Fastest-Growing Small Companies in 2001 and 2002.

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although PDC believes the expectations reflected in such forward- looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, oil and gas prices, drilling program results, drilling results, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. 

First Call Analyst: 

FCMN Contact: 

DATASOURCE: Petroleum Development Corporation



CONTACT:  Steven R. Williams of Petroleum Development Corporation,

[phone]



Web site:  http://www.petd.com/ 

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