Exhibit 12.1

Penn Virginia Corporation and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges Calculation

(in thousands, except ratios)

	Year Ended December 31,
	2005			2006			2007			2008			2009
Earnings
Pre-tax income *	$	130,918		$	167,080		$	106,386		$	250,506		$	(158,103	)
Fixed charges		20,755			31,313			47,159			59,672			80,903
Total Earnings	$	151,673		$	198,393		$	153,545		$	310,178		$	(77,200	)
Fixed Charges
Interest expense	$	18,815		$	27,984		$	41,841		$	52,010		$	72,423
Rental Interest Factor		1,940			3,329			5,318			7,662			8,480
Total Fixed Charges	$	20,755		$	31,313		$	47,159		$	59,672		$	80,903
Ratio of Earnings to Fixed Charges		7.3	x		6.3	x		3.3	x		5.2	x		**

* Includes cash distributions from equity affiliates and excludes equity earnings from affiliates. Also excludes capitalized interest.

** During 2009, earnings were deficient by $158,103 with respect to the coverage of fixed charges.