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,
	2007		2008		2009			2010			2011
Earnings
Pre-tax income *	$	52,655	$	146,238	$	(219,068	)	$	(109,562	)	$	(223,053	)
Fixed charges		28,162		33,772		53,535			60,003			62,002
Total Earnings	$	80,817	$	180,010	$	(165,533	)	$	(49,559	)	$	(161,051	)
Fixed Charges
Interest expense	$	23,717	$	27,614	$	47,545		$	55,063		$	58,199
Rental Interest Factor		4,445		6,158		5,990			4,940			3,803
Total Fixed Charges	$	28,162	$	33,772	$	53,535		$	60,003		$	62,002

Ratio of Earnings to Fixed Charges 2.9x 5.3x ** ** **

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

** During 2009, 2010 and 2011, earnings were deficient by $165,533, $49,559 and $161,051, respectively, regarding the coverage of fixed charges.