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

**Petroleum Development Corporation**

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**FOR IMMEDIATE RELEASE:**  January 18, 2006

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

Petroleum Development Announces 3rd Quarter Financialand Operating Results Conference Call

Bridgeport, West Virginia...Petroleum Development Corporation (NASDAQ/NMS PETDE) (PDC) today announced thatit will hold its earnings conference call which will be broadcast live over theinternet as well as by telephone at 11:00 a.m. EST. Steve Williams, CEO andDarwin L. Stump, CFO, will participate and be available for questions duringthe call.

What:     Petroleum Development ThirdQuarter Earnings Conference Call

When:    Thursday, January 19, 2006at 11:00 a.m. Eastern Standard Time

Where:   www.petd.com

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

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**** |
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