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***NEWS******   FROM***

**Petroleum Development Corporation**

** **

**FOR IMMEDIATE RELEASE:**  April 29, 2005

**CONTACT:**  Steven R. Williams - (304)842-3597  http://www.petd.com

Petroleum Development Closes Second 2005 Partnership;

Announces 1st Quarter Earnings Release andConference Call

Bridgeport, West Virginia... Petroleum DevelopmentCorporation (NASDAQ/NMS PETD) (PDC) today announced that it has closed its second2005 drilling Partnership with $40 million in subscriptions, the maximumallowed under its registration.  The first Partnership of 2005 was closed inJanuary 2005 with $40 million in subscriptions.

PDC CEO Steven R. Williams commented, "Our RockyMountain drilling results and strong energy prices continue to attract interestin the investment community. We appreciate the confidence of the clients and  financialplanners who have chosen PDC as their investment opportunity."

Plans call for the partnership wells to be drilled inWattenberg Field and the Piceance Basin in Colorado, the Company's currentareas of drilling operations. Wells in other areas are also permissible underthe partnership agreement.  The Company purchases a 20% interest in eachpartnership.

The Company plans the offering of its third and finalpartnership of 2005 later in the year with maximum subscriptions of $35million.

Additionally, the Company willrelease 1st Quarter 2005 earnings after the market closes on Thursday, May5th.  On Monday, May 9, 2005, you are invited to join its earnings conferencecall which will be broadcast live over the internet as well as by telephone at11:00 a.m. EDT. Steve Williams, CEO and Darwin L. Stump, CFO, will participateand be available for questions during the call.

What:     Petroleum Development First Quarter Earnings Conference Call

When:    Monday , May 9, 2005 at11:00 a.m. Eastern Daylight Time

Where:  www.petd.com

How:       Log on to the web address above or call****(877)407-8033 

                Replay Number: (877) 660-6853 (Account #286and Conference ID #149988)

                (Replay will be available approximately onehour after the conclusion of the call)

Contact:  Steve Williams,Petroleum Development Corporation, (800) 624-3821 E-mail: petd@petd.com

About Petroleum Development Corporation

Petroleum Development Corporation (www.petd.com) is anindependent energy company engaged in the development, production and marketingof natural gas.  The Company operations are focused in the Rocky Mountains withadditional operations in the Appalachian Basin and Michigan. During the thirdquarter 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 100Fastest-Growing Small Companies in 2001 and 2002.  

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

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**103 East Main Street • P. O. Box26 • Bridgeport, West Virginia • Phone:  (304) 842-3597**