Exhibit 12.1

Penn Virginia Corporation and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges Calculation

(in thousands, except ratios)

																Three Months
																Ended
	2005			2006			2007			2008			2009			March 31, 2010
Earnings
Pre-tax income *	$	130,918		$	167,080		$	106,386		$	250,506		$	(158,103	)	$	31,581
Fixed charges		20,755			31,313			47,159			59,672			80,903			21,858
Total Earnings	$	151,673		$	198,393		$	153,545		$	310,178		$	(77,200	)	$	53,439
Fixed Charges
Interest expense	$	18,815		$	27,984		$	41,841		$	52,010		$	72,423		$	19,868
Rental Interest Factor		1,940			3,329			5,318			7,662			8,480			1,990
Total Fixed Charges	$	20,755		$	31,313		$	47,159		$	59,672		$	80,903		$	21,858
Ratio of Earnings to Fixed Charges		7.3	x		6.3	x		3.3	x		5.2	x		**			2.4	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.