----

----

| West Virginia                                                  | 20-2088726                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

| Large accelerated filer     £ | Accelerated filer     £    |
|-------------------------------------------------------------|----------------------------------------------------------|
| Non-accelerated filer     £   | Smaller reporting company     T |

----

----

----

PDC 2005-

|                                 |                                                                                        | Page   |
|--------------------------------------|---------------------------------------------------------------------------------------------|--------|
| PART I – FINANCIAL INFORMATION |
|                                 |                                                                                        |   |
| Item 1.                              | Condensed Financial Statements (unaudited)                                                  |   |
|                                 | Condensed Balance Sheets                                                                    | 1      |
|                                 | Condensed Statements of Operations                                                          | 2      |
|                                 | Condensed Statements of Cash Flows                                                          | 3      |
|                                 | Notes to Unaudited Condensed Financial Statements                                           | 4      |
| Item 2.                              | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 13     |
| Item 3.                              | Quantitative and Qualitative Disclosures About Market Risk                                  | 21     |
| Item 4T.                             | Controls and Procedures                                                                     | 21     |
|                                 |                                                                                        |   |
| PART II – OTHER INFORMATION    |
|                                 |                                                                                        |   |
| Item 1.                              | Legal Proceedings                                                                           | 22     |
| Item 1A.                             | Risk Factors                                                                                | 22     |
| Item 2.                              | Unregistered Sales of Equity Securities and Use of Proceeds                                 | 22     |
| Item 3.                              | Defaults Upon Senior Securities                                                             | 22     |
| Item 4.                              | Submission of Matters to a Vote of Security Holders                                         | 22     |
| Item 5.                              | Other Information                                                                           | 22     |
| Item 6.                              | Exhibits                                                                                    | 23     |
|                                 |                                                                                        |   |
|                                 | SIGNATURES                                                                                  | 24     |

----

Index

| Item 1. | CondensedFinancial Statements (unaudited) |
|---------|-------------------------------------------|

PDC 

|                                                                  |   | March 31, |        |   | December 31, |   |
|-----------------------------------------------------------------------|--------|----------------|-------------|--------|-------------------|--------|
|                                                                  |   | 2009           |        |   | 2008*             |   |
| Assets                                                                |   |           |        |   |              |   |   |
|                                                                  |   |           |        |   |              |   |   |
| Current assets:                                                       |   |           |        |   |              |   |   |
| Cash and cash equivalents                                             |   | $              | 446,473     |   |              | $      | 444,727 |   |
| Accounts receivable                                                   |   |           | 257,578     |   |              |   | 255,319 |   |
| Oil inventory                                                         |   |           | 42,799      |   |              |   | 33,855 |   |
| Due from Managing General Partner-derivatives                         |   |           | 2,088,484   |   |              |   | 1,875,597 |   |
| Due from Managing General Partner-other, net                          |   |           | 1,515,452   |   |              |   | 1,453,624 |   |
| Total current assets                                                  |   |           | 4,350,786   |   |              |   | 4,063,122 |   |
|                                                                  |   |           |        |   |              |   |   |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Oil and gas properties, successful efforts method                     |   |           | 44,854,991  |   |              |   | 44,857,885 |   |
| Drilling advances to Managing General Partner                         |   |           | 54,741      |   |              |   | 54,741 |   |
| Oil and gas properties, at cost                                       |   |           | 44,909,732  |   |              |   | 44,912,626 |   |
| Less:  Accumulated depreciation, depletion and amortization |   |           | (17,540,515 | )      |              |   | (16,231,601 | ) |
| Oil and gas properties, net                                           |   |           | 27,369,217  |   |              |   | 28,681,025 |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Due from Managing General Partner-derivatives                         |   |           | 396,478     |   |              |   | 736,667 |   |
| Total noncurrent assets                                               |   |           | 27,765,695  |   |              |   | 29,417,692 |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Total Assets                                                          |   | $              | 32,116,481  |   |              | $      | 33,480,814 |   |
|                                                                  |   |           |        |   |              |   |   |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Liabilities and Partners' Equity                                      |   |           |        |   |              |   |   |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Current liabilities:                                                  |   |           |        |   |              |   |   |   |
| Accounts payable and accrued expenses                                 |   | $              | 51,834      |   |              | $      | 55,972 |   |
| Total current liabilities                                             |   |           | 51,834      |   |              |   | 55,972 |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Due to Managing General Partner-derivatives                           |   |           | 728,504     |   |              |   | 114,186 |   |
| Asset retirement obligations                                          |   |           | 406,325     |   |              |   | 401,434 |   |
| Total liabilities                                                     |   |           | 1,186,663   |   |              |   | 571,592 |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Commitments and contingencies                                         |   |           |        |   |              |   |   |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Partners' equity:                                                     |   |           |        |   |              |   |   |   |
| Managing General Partner                                              |   |           | 6,197,032   |   |              |   | 6,592,912 |   |
| Limited Partners - 2,022.64 units issued and outstanding              |   |           | 24,732,786  |   |              |   | 26,316,310 |   |
| Total Partners' equity                                                |   |           | 30,929,818  |   |              |   | 32,909,222 |   |
|                                                                  |   |           |        |   |              |   |   |   |
| Total Liabilities and Partners' Equity                                |   | $              | 32,116,481  |   |              | $      | 33,480,814 |   |

----

Index

PDC 2005

|                                                                    |   | Three months ended March 31, |      |
|-------------------------------------------------------------------------|--------|-----------------------------------|-----------|
|                                                                    |   | 2009                              |      |   | 2008 |   |
| Revenues:                                                               |   |                              |      |   |   |   |
| Oil and gas sales                                                       |   | $                                 | 735,893   |   |   | $ | 1,884,366 |   |
| Oil and gas price risk management gain (loss), net                      |   |                              | 31,158    |   |   |   | (524,325 | ) |
| Total revenues                                                          |   |                              | 767,051   |   |   |   | 1,360,041 |   |
|                                                                    |   |                              |      |   |   |   |   |   |
| Operating costs and expenses:                                           |   |                              |      |   |   |   |   |   |
| Production and operating costs                                          |   |                              | 301,411   |   |   |   | 365,969 |   |
| Direct costs - general and administrative                               |   |                              | 150,998   |   |   |   | 10,357 |   |
| Depreciation, depletion and amortization                                |   |                              | 1,308,914 |   |   |   | 820,403 |   |
| Accretion of asset retirement obligations                               |   |                              | 4,891     |   |   |   | 4,628 |   |
| Total operating costs and expenses                                      |   |                              | 1,766,214 |   |   |   | 1,201,357 |   |
|                                                                    |   |                              |      |   |   |   |   |   |
| (Loss) income from operations                                           |   |                              | (999,163  | ) |   |   | 158,684 |   |
|                                                                    |   |                              |      |   |   |   |   |   |
| Interest income                                                         |   |                              | 8,603     |   |   |   | 14,714 |   |
|                                                                    |   |                              |      |   |   |   |   |   |
| Net (loss) income                                                       |   | $                                 | (990,560  | ) |   | $ | 173,398 |   |
|                                                                    |   |                              |      |   |   |   |   |   |
| Net (loss) income allocated to partners                                 |   | $                                 | (990,560  | ) |   | $ | 173,398 |   |
| Less:  Managing General Partner interest in net (loss) income |   |                              | (198,112  | ) |   |   | 34,680 |   |
| Net (loss) income allocated to Investor Partners                        |   | $                                 | (792,448  | ) |   | $ | 138,718 |   |
|                                                                    |   |                              |      |   |   |   |   |   |
| Net (loss) income per Investor Partner unit                             |   | $                                 | (392      | ) |   | $ | 69 |   |
|                                                                    |   |                              |      |   |   |   |   |   |
| Investor Partner units outstanding                                      |   |                              | 2,022.64  |   |   |   | 2,022.64 |   |

----

Index

PDC

|                                                                                     |   | Three months ended March 31, |      |
|------------------------------------------------------------------------------------------|--------|-----------------------------------|-----------|
|                                                                                     |   | 2009                              |      |   | 2008 |   |
| Cash flows from operating activities:                                                    |   |                              |      |   |   |   |
| Net (loss) income                                                                        |   | $                                 | (990,560  | ) |   | $ | 173,398 |   |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: |   |                              |      |   |   |   |   |   |
| Depreciation, depletion and amortization                                                 |   |                              | 1,308,914 |   |   |   | 820,403 |   |
| Accretion of asset retirement obligations                                                |   |                              | 4,891     |   |   |   | 4,628 |   |
| Unrealized loss on derivative transactions                                               |   |                              | 741,620   |   |   |   | 447,364 |   |
| Changes in operating assets and liabilities:                                             |   |                              |      |   |   |   |   |   |
| Increase in accounts receivable                                                          |   |                              | (2,259    | ) |   |   | (155 | ) |
| Increase in oil inventory                                                                |   |                              | (8,944    | ) |   |   | (40,896 | ) |
| Increase (decrease) in accounts payable and accrued expenses                             |   |                              | (4,138    | ) |   |   | 85,686 |   |
| Increase in due from Managing General Partner - other, net                               |   |                              | (61,828   | ) |   |   | (414,530 | ) |
| Net cash provided by operating activities                                                |   |                              | 987,696   |   |   |   | 1,075,898 |   |
|                                                                                     |   |                              |      |   |   |   |   |   |
| Cash flows from investing activities:                                                    |   |                              |      |   |   |   |   |   |
| Capital expenditures for oil and gas properties                                          |   |                              | -         |   |   |   | (4,013 | ) |
| Proceeds from Colorado sales tax refund related to oil and gas properties                |   |                              | 2,894     |   |   |   | 34,587 |   |
| Net cash provided by investing activities                                                |   |                              | 2,894     |   |   |   | 30,574 |   |
|                                                                                     |   |                              |      |   |   |   |   |   |
| Cash flows from financing activities:                                                    |   |                              |      |   |   |   |   |   |
| Distributions to Partners                                                                |   |                              | (988,844  | ) |   |   | (1,099,549 | ) |
| Net cash used in financing activities                                                    |   |                              | (988,844  | ) |   |   | (1,099,549 | ) |
|                                                                                     |   |                              |      |   |   |   |   |   |
| Net increase in cash and cash equivalents                                                |   |                              | 1,746     |   |   |   | 6,923 |   |
| Cash and cash equivalents, beginning of period                                           |   |                              | 444,727   |   |   |   | 284,182 |   |
| Cash and cash equivalents, end of period                                                 |   | $                                 | 446,473   |   |   | $ | 291,105 |   |

----

Index

PDC 2005

----

Index

|   | · | FSP No. FAS 157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

|   | · | FSP No. FAS 107-1 and APB 28-1, Interim Disclosures about Fair Value of Financial Instruments. |
|--------|--------|------------------------------------------------------------------------------------------------|

----

Index

|                                       |   | Three months ended March 31, |    |
|--------------------------------------------|--------|-----------------------------------|---------|
|                                       |   | 2009                              |    |   | 2008 |   |
|                                       |   |                              |    |   |   |   |
| Well charges                               |   | $                                 | 45,997  |   |   | $ | 65,715 |   |
| Supplies and equipment                     |   |                              | 178,915 |   |   |   | 99,641 |   |
| Gathering, compression and processing fees |   |                              | 24,665  |   |   |   | 35,398 |   |
| Direct costs - general and administrative  |   |                              | 150,998 |   |   |   | 10,357 |   |
| Cash distributions*                        |   |                              | 209,061 |   |   |   | 230,145 |   |

----

Index

|   | · | For swap instruments, if the market price is below the fixed contract price, PDC, as Managing General Partner, receives the market price from the purchaser and receives the difference between the market price and the fixed contract price from the counterparty.  If the market price is above the fixed contract price, PDC, as Managing General Partner, receives the market price from the purchaser and pays thedifference between the market price and the fixed contract price to the counterparty. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Basis protection swaps are arrangements that guarantee a price differential for natural gas valued at a specified pricing point, or hub.  For CIG basis protection swaps that have a negative pricing differential to NYMEX, PDC, as Managing General Partner, receives a payment from the counterparty if the price differential is greater than the stated terms of the contract and pays the counterparty if the pricedifferential is less than the stated terms of the contract. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Collars contain a fixed floor price (put) and ceiling price (call).  If the market price exceeds the fixed call strike price, PDC, as Managing General Partner, receives the market price from the purchaser and pays the difference between the call strike price and market price to the counterparty.  If the market falls below the fixed put strike price, PDC, as Managing General Partner, receives themarket price from the purchaser and receives the difference between the put strike price and market price from the counterparty.  If the market price is between the call and put strike price, no payments are due from either party. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                   |                                  |                  |                                          |               | Fair ValueAs of |      |
|------------------------------------------------------------------------|---------------------------------------|-----------------------|-----------------------------------------------|--------------------|-----------------|-----------|
| Derivatives not qualifying for hedge accounting under FAS No. 133 (1): |                                  | Balance SheetLocation |                                          | March 31,2009 |            |      | December 31,2008 |   |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |
| Derivative Assets:                                                     | Current                               |                  |                                          |               |            |      |   |   |   |
|                                                                   | Commodity based derivative contracts  |                  | Due from Managing General Partner-derivatives |               | $               | 2,088,484 |   |   | $ | 1,875,597 |   |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |   |   |
|                                                                   | Long Term                             |                  |                                          |               |            |      |   |   |   |   |   |
|                                                                   | Commodity based derivative contracts  |                  | Due from Managing General Partner-derivatives |               |            | 396,478   |   |   |   | 736,667 |   |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |   |   |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |   |   |
| Total Derivative Assets                                                |                                  |                  |                                          | $                  | 2,484,962       |      |   | $ | 2,612,264 |   |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |   |   |
| Derivative Liabilities:                                                | Long Term                             |                  |                                          |               |            |      |   |   |   |   |   |
|                                                                   | Commodity based derivative contracts  |                  | Due to Managing General Partner-derivatives   |               |            | (45,502   | ) |   |   | - |   |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |   |   |
|                                                                   | Basis protection derivative contracts |                  | Due to Managing General Partner-derivatives   |               |            | (683,002  | ) |   |   | (114,186 | ) |
|                                                                   |                                  |                  |                                          |               |            |      |   |   |   |   |   |
| Total Derivative Liabilities                                           |                                  |                  |                                          | $                  | (728,504        | )         |   | $ | (114,186 | ) |

----

Index

|                                                     |   | Three months ended March 31,                                                     |     |
|----------------------------------------------------------|--------|----------------------------------------------------------------------------------|----------|
|                                                     |   | 2009                                                                             |     |   | 2008 |   |
| Statement of operations line item                        |   | Reclassification of Realized Gains (Losses) Included in Prior Periods Unrealized |     |   | Realized and Unrealized Gains (Losses) For the Current Period |   |   | Total |   |   | Reclassification of Realized Gains (Losses) Included in Prior Periods Unrealized |   |   | Realized and Unrealized Gains (Losses) For the Current Period |   |   | Total |   |
|                                                     |   |                                                                             |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Oil and gas price risk management, gain (loss), net      |   |                                                                             |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Realized gains (losses)                                  |   | $                                                                                | 644,216  |   |   | $ | 128,562 |   |   | $ | 772,778 |   |   | $ | 129,853 |   |   | $ | (206,814 | ) |   | $ | (76,961 | ) |
| Unrealized losses                                        |   |                                                                             | (644,216 | ) |   |   | (97,404 | ) |   |   | (741,620 | ) |   |   | (129,853 | ) |   |   | (317,511 | ) |   |   | (447,364 | ) |
| Total oil and gas price risk management gain (loss), net |   | $                                                                                | -        |   |   | $ | 31,158 |   |   | $ | 31,158 |   |   | $ | - |   |   | $ | (524,325 | ) |   | $ | (524,325 | ) |

|   | · | Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.  Included in Level 1 are commodity derivative instruments for New York Mercantile Exchange (“NYMEX”) natural gas swaps. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

|   | · | Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in inactive markets, (iii) inputs other than quoted pricesthat are observable for the asset or liability and (iv) inputs that are derived from observable market data by correlation or other means. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level 3 – Unobservable inputs for the asset or liability, including situations where there is little, if any, market activity for the asset or liability.  Included in Level 3 are the Partnership’s asset retirement obligations and the Partnership’s commodity derivative instruments for CIG-based fixed-price natural gas swaps,collars and floors, oil swaps, and natural gas basis protection swaps. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                  |   | Level 1             |    |   | Level 3                |   |
|---------------------------------------|--------|---------------------|---------|--------|------------------------|--------|
|                                  |   | As of               |    |   | As of                  |   |
|                                  |   | March 31, 2009 |    |   | December 31, 2008 |   |   | March 31, 2009 |   |   | December 31, 2008 |   |
| Assets:                               |   |                |    |   |                   |   |   |   |   |   |   |   |
| Commodity based derivatives           |   | $                   | -       |   |                   | $      | - |   |   | $ | 2,484,962 |   |   | $ | 2,612,264 |   |
| Total assets                          |   |                | -       |   |                   |   | - |   |   |   | 2,484,962 |   |   |   | 2,612,264 |   |
|                                  |   |                |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities:                          |   |                |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Commodity based derivatives           |   |                | (44,265 | )      |                   |   | - |   |   |   | (1,237 | ) |   |   | - |   |
| Basis protection derivative contracts |   |                | -       |   |                   |   | - |   |   |   | (683,002 | ) |   |   | (114,186 | ) |
| Total liabilities                     |   |                | (44,265 | )      |                   |   | - |   |   |   | (684,239 | ) |   |   | (114,186 | ) |
|                                  |   |                |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net (Liability) Asset                 |   | $                   | (44,265 | )      |                   | $      | - |   |   | $ | 1,800,723 |   |   | $ | 2,498,078 |   |

----

Index

|                                                                                                                                                |   | Three months ended  |      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|-----------|
|                                                                                                                                                |   | March 31, 2009 |      |
| Fair value, net asset, as of December 31, 2008                                                                                                      |   | $                   | 2,498,078 |   |
| Unrealized and realized gains (losses) included in Oil and gas price risk management gain, net                                                      |   |                | 75,423    |   |
| Settlements, net                                                                                                                                    |   |                | (772,778  | ) |
| Fair value, net asset, as of March 31, 2009                                                                                                         |   | $                   | 1,800,723 |   |
|                                                                                                                                                |   |                |      |   |
| Change in unrealized gains (losses) relating to assets (liabilities)still held as of March 31, 2009, included in statement of operations line item: |   |                |      |   |
| Oil and gas price risk management gain, net                                                                                                         |   | $                   | (51,902   | ) |

----

Index

----

Index

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------|---------------------------------------------------------------------------------------------|

|   | · | changes in production volumes, worldwide demand, and commodity prices for oil and natural gas; |
|--------|--------|------------------------------------------------------------------------------------------------|

|   | · | risks incident to the operation of natural gas and oil wells; |
|--------|--------|---------------------------------------------------------------|

|   | · | future production and development costs; |
|--------|--------|------------------------------------------|

|   | · | the availability of sufficient pipeline and other transportation facilities to carry Partnership production and the impact of these facilities on price; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the effect of existing and future laws, governmental regulations and the political and economic climate of the United States of America (“U.S.”) and the impact of the global economy; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the effect of natural gas and oil derivatives activities; |
|--------|--------|-----------------------------------------------------------|

|   | · | availability and cost of capital and conditions in the capital markets; and |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | losses possible from pending and/or future litigation and the costs incident thereto. |
|--------|--------|---------------------------------------------------------------------------------------|

----

Index

|                                                                       |   | Summary Operating Results         |      |
|----------------------------------------------------------------------------|--------|-----------------------------------|-----------|
|                                                                       |   | Three months ended March 31, |      |
|                                                                       |   | 2009                              |      |   | 2008 |   |   | Change |   |
| Number of producing wells (end of period)                                  |   |                              | 51        |   |   |   | 51 |   |   |   | * |   |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Production:  (1)                                                 |   |                              |      |   |   |   |   |   |   |   |   |   |
| Oil (Bbl)                                                                  |   |                              | 8,952     |   |   |   | 9,110 |   |   |   | -2 | % |
| Natural gas (Mcf)                                                          |   |                              | 134,046   |   |   |   | 165,995 |   |   |   | -19 | % |
| Natural gas equivalents (Mcfe)  (2)                              |   |                              | 187,758   |   |   |   | 220,655 |   |   |   | -15 | % |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Average Selling Price                                                      |   |                              |      |   |   |   |   |   |   |   |   |   |
| Oil (per Bbl)  (3)                                               |   | $                                 | 36.66     |   |   | $ | 82.33 |   |   |   | -55 | % |
| Natural gas (per Mcf)  (3)                                       |   |                              | 3.04      |   |   |   | 6.83 |   |   |   | -55 | % |
| Natural gas equivalents (per Mcfe)  (3)                          |   |                              | 3.92      |   |   |   | 8.54 |   |   |   | -54 | % |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Average Selling Price (including realized gain (loss), net on derivatives) |   |                              |      |   |   |   |   |   |   |   |   |   |
| Oil (per Bbl)                                                              |   | $                                 | 63.34     |   |   | $ | 77.41 |   |   |   | -18 | % |
| Natural gas (per Mcf)                                                      |   |                              | 7.03      |   |   |   | 6.64 |   |   |   | 6 | % |
| Natural gas equivalents (per Mcfe)                                         |   |                              | 8.04      |   |   |   | 8.19 |   |   |   | -2 | % |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Average cost per Mcfe                                                      |   |                              |      |   |   |   |   |   |   |   |   |   |
| Production and operating costs  (4)                              |   | $                                 | 1.61      |   |   | $ | 1.66 |   |   |   | -3 | % |
| Depreciation, depletion and amortization                                   |   |                              | 6.97      |   |   |   | 3.72 |   |   |   | 87 | % |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Revenues:                                                                  |   |                              |      |   |   |   |   |   |   |   |   |   |
| Oil and gas sales                                                          |   | $                                 | 735,893   |   |   | $ | 1,884,366 |   |   |   | -61 | % |
| Oil and gas price risk management, gain (loss), net                        |   |                              | 31,158    |   |   |   | (524,325 | ) |   |   | * |   |
| Total revenues                                                             |   | $                                 | 767,051   |   |   | $ | 1,360,041 |   |   |   | -44 | % |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Realized Gain (Loss) on Derivatives, net                                   |   |                              |      |   |   |   |   |   |   |   |   |   |
| Oil derivatives - realized gain (loss)                                     |   | $                                 | 238,768   |   |   | $ | (44,766 | ) |   |   | * |   |
| Natural gas derivatives - realized gain (loss)                             |   |                              | 534,010   |   |   |   | (32,195 | ) |   |   | * |   |
| Total realized gain (loss) on derivatives, net                             |   | $                                 | 772,778   |   |   | $ | (76,961 | ) |   |   | * |   |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Operating costs and expenses:                                              |   |                              |      |   |   |   |   |   |   |   |   |   |
| Production and operating costs                                             |   | $                                 | 301,411   |   |   | $ | 365,969 |   |   |   | -18 | % |
| Direct costs - general and administrative                                  |   |                              | 150,998   |   |   |   | 10,357 |   |   |   | * |   |
| Depreciation, depletion and amortization                                   |   |                              | 1,308,914 |   |   |   | 820,403 |   |   |   | 60 | % |
| Accretion of asset retirement obligations                                  |   |                              | 4,891     |   |   |   | 4,628 |   |   |   | 6 | % |
| Total operating costs and expenses                                         |   | $                                 | 1,766,214 |   |   | $ | 1,201,357 |   |   |   | 47 | % |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| (Loss) income from operations                                              |   | $                                 | (999,163  | ) |   | $ | 158,684 |   |   |   | * |   |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Interest income                                                            |   |                              | 8,603     |   |   |   | 14,714 |   |   |   | -42 | % |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Net (loss) income                                                          |   | $                                 | (990,560  | ) |   | $ | 173,398 |   |   |   | * |   |
|                                                                       |   |                              |      |   |   |   |   |   |   |   |   |   |
| Cash distributions                                                         |   | $                                 | 988,844   |   |   | $ | 1,099,549 |   |   |   | -10 | % |

|   | (1) | Production is net and determined by multiplying the gross production volume of properties in which we have an interest by the percentage of the leasehold or other property interest we own. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | A ratio of energy content of natural gas and oil (six Mcf of natural gas equals one Bbl of oil) was used to obtain a conversion factor to convert oil production into equivalent Mcf of natural gas. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

|   | (3) | The Partnership utilizes derivative instruments to manage a portion of our exposure to price volatility of our natural gas and oil sales.  This amount excludes realized and unrealized gains and losses on commodity based derivative instruments. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Production costs represent oil and gas operating expenses which include production taxes. |
|--------|-----|-------------------------------------------------------------------------------------------|

|   | · | Bbl – One barrel or 42 U.S. gallons liquid volume |
|--------|--------|---------------------------------------------------------|

|   | · | MBbl – One thousand barrels |
|--------|--------|-----------------------------------|

|   | · | Mcf – One thousand cubic feet |
|--------|--------|-------------------------------------|

|   | · | MMcf – One million cubic feet |
|--------|--------|-------------------------------------|

|   | · | Mcfe – One thousand cubic feet of natural gas equivalents |
|--------|--------|-----------------------------------------------------------------|

|   | · | MMcfe – One million cubic feet of natural gas equivalents |
|--------|--------|-----------------------------------------------------------------|

----

Index

|                     |   |   |   | December 31, |   |   | June 30, |   |   | December 31, |   |   | March 31, |   |
|--------------------------|--------|--------|--------|-------------------|--------|--------|---------------|--------|--------|-------------------|--------|--------|----------------|--------|
| Commodity                |   | Index  |   | 2007              |   |   | 2008          |   |   | 2008              |   |   | 2009           |   |
|                     |   |   |   |              |   |   |          |   |   |              |   |   |           |   |
| Natural gas: (per MMbtu) |   |   |   |              |   |   |          |   |   |              |   |   |           |   |
|                     |   | NYMEX  |   | $                 | 8.12   |   |          | $      | 12.52  |              |   | $      | 6.62           |   |   | $ | 5.44 |   |
|                     |   | CIG    |   |              | 6.78   |   |          |   | 8.86   |              |   |   | 4.49           |   |   |   | 4.15 |   |
| Oil: (per Bbl)           |   | NYMEX  |   |              | 90.79  |   |          |   | 140.15 |              |   |   | 57.49          |   |   |   | 59.35 |   |

----

Index

|                                                                             |   | Three months ended March 31, |     |
|----------------------------------------------------------------------------------|--------|-----------------------------------|----------|
|                                                                             |   | 2009                              |     |   | 2008 |   |
| Realized gain (loss)                                                             |   |                              |     |   |   |   |
| Oil                                                                              |   | $                                 | 238,768  |   |   | $ | (44,766 | ) |
| Natural Gas                                                                      |   |                              | 534,010  |   |   |   | (32,195 | ) |
| Total realized gain (loss), net                                                  |   |                              | 772,778  |   |   |   | (76,961 | ) |
| Reclassification of realized gain included in prior periods unrealized gain |   |                              | (644,216 | ) |   |   | (129,853 | ) |
| Unrealized loss for the period                                                   |   |                              | (97,404  | ) |   |   | (317,511 | ) |
| Oil and gas price risk management gain (loss), net                               |   | $                                 | 31,158   |   |   | $ | (524,325 | ) |

----

Index

|                             |   |   | Floors                        |    |   | Ceilings                        |   |   | Swaps (Fixed Prices)          |   |   | Basis Protection Contracts      |   |   |                          |   |
|----------------------------------|--------|--------|-------------------------------|---------|--------|---------------------------------|--------|--------|-------------------------------|--------|--------|---------------------------------|--------|--------|-------------------------------|--------|
| Commodity/ Index/ Operating Area |   |   | Quantity (Gas-MMbtu Oil-Bbls) |    |   | Weighted Average Contract Price |   |   | Quantity (Gas-MMbtu Oil-Bbls) |   |   | Weighted Average Contract Price |   |   | Quantity (Gas-MMbtu Oil-Bbls) |   |   | Weighted Average Contract Price |   |   | Quantity (Gas-MMbtu Oil-Bbls) |   |   | Weighted Average Contract Price |   |   | Fair Value At March 31, 2009 |   |
|                             |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural Gas                      |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |
| Rocky Mountain Region            |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |
| CIG                              |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     2Q 2009  |   |   |                          | 108,012 |   |                            | $      | 5.75   |                          |   |   | 108,012                         |   |   | $                             | 8.90   |   |   |   | - |   |   | $ | - |   |   |   | - |   |   | $ | - |   |   | $ | 353,936 |   |
|     3Q 2009  |   |   |                          | 108,012 |   |                            |   | 5.75   |                          |   |   | 108,012                         |   |   |                          | 8.90   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 310,313 |   |
|     4Q 2009  |   |   |                          | 74,844  |   |                            |   | 6.66   |                          |   |   | 74,844                          |   |   |                          | 10.20  |   |   |   | 27,260 |   |   |   | 9.20 |   |   |   | - |   |   |   | - |   |   |   | 395,293 |   |
|     2010     |   |   |                          | 84,359  |   |                            |   | 6.65   |                          |   |   | 84,359                          |   |   |                          | 10.80  |   |   |   | 40,889 |   |   |   | 9.20 |   |   |   | 243,871 |   |   |   | 1.88 |   |   |   | 236,377 |   |
|     2011     |   |   |                          | 39,148  |   |                            |   | 4.75   |                          |   |   | 39,148                          |   |   |                          | 9.45   |   |   |   | - |   |   |   | - |   |   |   | 280,750 |   |   |   | 1.88 |   |   |   | (174,486 | ) |
|     2012     |   |   |                          | -       |   |                            |   | -      |                          |   |   | -                               |   |   |                          | -      |   |   |   | - |   |   |   | - |   |   |   | 289,753 |   |   |   | 1.88 |   |   |   | (211,793 | ) |
|     2013     |   |   |                          | -       |   |                            |   | -      |                          |   |   | -                               |   |   |                          | -      |   |   |   | - |   |   |   | - |   |   |   | 264,036 |   |   |   | 1.88 |   |   |   | (166,912 | ) |
|                             |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NYMEX                            |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     2010     |   |   |                          | 7,064   |   |                            |   | 5.75   |                          |   |   | 7,064                           |   |   |                          | 8.30   |   |   |   | 190,258 |   |   |   | 5.55 |   |   |   | - |   |   |   | - |   |   |   | (44,049 | ) |
|     2011     |   |   |                          | 9,506   |   |                            |   | 5.75   |                          |   |   | 9,506                           |   |   |                          | 8.30   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,452 | ) |
| Total Natural Gas                |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  697,227 |   |
|                             |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Oil                              |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rocky Mountain Region            |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NYMEX                            |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     2Q 2009  |   |   |                          | -       |   |                            |   | -      |                          |   |   | -                               |   |   |                          | -      |   |   |   | 5,103 |   |   |   | 90.52 |   |   |   | - |   |   |   | - |   |   |   | 197,507 |   |
|     3Q 2009  |   |   |                          | -       |   |                            |   | -      |                          |   |   | -                               |   |   |                          | -      |   |   |   | 5,159 |   |   |   | 90.52 |   |   |   | - |   |   |   | - |   |   |   | 181,116 |   |
|     4Q 2009  |   |   |                          | -       |   |                            |   | -      |                          |   |   | -                               |   |   |                          | -      |   |   |   | 5,159 |   |   |   | 90.52 |   |   |   | - |   |   |   | - |   |   |   | 165,987 |   |
|     2010     |   |   |                          | -       |   |                            |   | -      |                          |   |   | -                               |   |   |                          | -      |   |   |   | 17,386 |   |   |   | 92.96 |   |   |   | - |   |   |   | - |   |   |   | 514,621 |   |
| Total Oil                        |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,059,231 |   |
|                             |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Natural Gas and Oil        |   |   |                          |    |   |                            |   |   |                          |   |   |                            |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 1,756,458 |   |

----

Index

| Quarter Ended  |   | Managing General Partner Distributions |    |   | Investor Partners Distributions |   |    | Total Distributions |   |
|----------------|--------|----------------------------------------|---------|--------|---------------------------------|--------|---------|---------------------|--------|
|           |   |                                   |    |   |                            |   |    |                |   |
| March 31, 2009 |   | $                                      | 197,768 |   |                            | $      | 791,076 |                |   | $ | 988,844 |   |
|           |   |                                   |    |   |                            |   |    |                |   |   |   |   |
| March 31, 2008 |   | $                                      | 219,909 |   |                            | $      | 879,640 |                |   | $ | 1,099,549 |   |

----

Index

|   | · | A $0.8 million increase in realized oil and gas price risk management loss, net accompanied by a decrease in production and operating cost of 18%. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | An increase in direct costs – general and administrative of $0.1 million and a decrease in oil and gas sale revenues of 61%. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------|

----

Index

| Item 3. | Quantitative and Qualitative Disclosures About Market Risk |
|---------|------------------------------------------------------------|

| Item 4T. | Controls and Procedures |
|----------|-------------------------|

----

Index

| Item 1. | Legal Proceedings |
|---------|-------------------|

| Item 1A. | Risk Factors |
|----------|--------------|

| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
|---------|-------------------------------------------------------------|

3
4
5

----

Index

| Item 6. | Exhibits |
|---------|----------|

| (a) | Exhibit Index. |
|-----|----------------|

|           |   |                                                                                                                                                                                                                                  |   | Incorporated by Reference  |   |            |
|----------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|-----------------|
| Exhibit Number |   | Exhibit Description                                                                                                                                                                                                                   |   | Form                       |   | SEC File Number |   | Exhibit |   | Filing Date |   | Filed Herewith |
| 3.1            |   | Limited Partnership Agreement (filed by PDC as Managing General Partner for PDC 2004-2006 Drilling Program)                                                                                                                           |   | S-1 Post-Effective Amend 2 |   | 333-111260      |   | Appendix A |   | 06/29/2005 |   |   |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |            |   |   |   |   |   |   |
| 3.2            |   | Certificate of limited partnership which reflects the organization of the Partnership under West Virginia law                                                                                                                         |   | 10-K                       |   | 000-51452       |   | 3.2 |   | 02/26/2009 |   |   |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |            |   |   |   |   |   |   |
| 10.1           |   | Domestic Crude Oil Purchase Agreement between Suncor Energy Marketing Inc. and Petroleum Development Corporation, dated April 22, 2008*                                                                                               |   |                       |   |            |   |   |   |   |   | X |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |            |   |   |   |   |   |   |
| 31.1           |   | Rule 13a-14(a)/15d-14(c) Certification of Chief Executive Officer of Petroleum Development Corporation, the Managing General Partner of the Partnership as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.         |   |                       |   |            |   |   |   |   |   | X |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |            |   |   |   |   |   |   |
| 31.2           |   | Rule 13a-14(a)/15d-14(c) Certification of Chief Financial Officer of Petroleum Development Corporation, the Managing General Partner of the Partnership as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.         |   |                       |   |            |   |   |   |   |   | X |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |            |   |   |   |   |   |   |
| 32.1           |   | Title 18 U.S.C. Section 1350 (Section 906 of Sarbanes-Oxley Act of 2002) Certifications by Chief Executive Officer and Chief Financial Officer of Petroleum Development Corporation, the Managing General Partner of the Partnership. |   |                       |   |            |   |   |   |   |   | X |

----

Index

SIGNA

|                                                                  | By: /s/ Richard W. McCullough |   |
|-----------------------------------------------------------------------|-------------------------------|--------|
| Richard W. McCulloughChairman and Chief Executive OfficerMay 18, 2009 |

| Signature                 |   | Title                                      | Date         |
|---------------------------|--------|--------------------------------------------|--------------|
|                      |   |                                       |         |
| /s/ Richard W. McCullough |   | Chairman and Chief Executive Officer       | May 18, 2009 |
| Richard W. McCullough     |   | Petroleum Development Corporation          |         |
|                      |   | Managing General Partner of the Registrant |         |
|                      |   | (Principal executive officer)              |         |
|                      |   |                                       |         |
| /s/ Gysle R. Shellum      |   | Chief Financial Officer                    | May 18, 2009 |
| Gysle R. Shellum          |   | Petroleum Development Corporation          |         |
|                      |   | Managing General Partner of the Registrant |         |
|                      |   | (Principal financial officer)              |         |
|                      |   |                                       |         |
| /s/ R. Scott Meyers       |   | Chief Accounting Officer                   | May 18, 2009 |
| R. Scott Meyers           |   | Petroleum Development Corporation          |         |
|                      |   | Managing General Partner of the Registrant |         |
|                      |   | (Principal accounting officer)             |         |

----