Exhibit 12.1

Penn Virginia Corporation and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges Calculation

(in thousands, except ratios)

	Years Ended December 31,
	2003		2004		2005		2006		2007
Earnings
Pre-tax income *	$	55,987	$	72,779	$	130,918	$	167,080	$	106,818
Fixed charges		8,379		11,067		20,755		31,313		47,689
Total earnings	$	64,366	$	83,846	$	151,673	$	198,393	$	154,507
Fixed Charges
Interest expense **	$	7,352	$	9,679	$	18,815	$	27,984	$	42,371
Rental interest factor		1,027		1,388		1,940		3,329		5,318
Total fixed charges	$	8,379	$	11,067	$	20,755	$	31,313	$	47,689
Ratio of earnings to fixed charges		7.7x		7.6x		7.3x		6.3x		3.2x

* Excludes equity earnings from investees and includes capitalized interest.

** Includes capitalized interest.