Petroleum Development Corp.

Richard W. McCullough, Chairman of the Board and Chief Executive Officer Mr. McCullough joined PDC in November 2006 as Chief Financial Officer. He was appointed Chief Executive Officer and President in June 2008, and Chairman in November 2008. A financial executive with over thirty years of experience working both for and with utilities and energy companies, Mr. McCullough previously held the position of President and CEO of Gasource, LLC and has held senior positions with JP Morgan Securities, Progress Energy, Deloitte and Touche, and the Municipal Gas Authority of Georgia. Mr. McCullough holds both BS and MS degrees from the University of Southern Mississippi and was a practicing Certified Public Accountant for eight years.

Elected Chairman and Chief Executive Officer in January 2004, Mr. Williams served as President until December 2004 and has served as a Director of PDC since March 1983. Prior to joining PDC, Mr. Williams was employed by Exxon until 1979 and attended Stanford Graduate School of Business, graduating in 1981. He then worked with Texas Oil and Gas until July 1982, when he joined Exco Enterprises, an oil and gas investment company as manager of operations. Mr. Williams serves as Chairman of the Executive Committee.

Mr. Stump was appointed to his current position in April 2009 after serving as Chief Accounting Officer since November 2006. Previously, Mr. Stump served as Chief Financial Officer and Treasurer since November 2003. Mr. Stump has been an officer of the Company since April 1995 and held the position of Corporate Controller since 1980 when he joined the Company. Prior to joining PDC, Mr. Stump was a senior accountant with Main Hurdman, Certified Public Accountants. Mr. Stump is a graduate of West Virginia University with a BSBA in Accounting and a Certified Public Accountant.

Mr. Shellum was appointed Chief Financial Officer in November 2008. He joins PDC with over 25 years of energy related experience within the accounting, finance, risk management and merger and acquisition areas. Mr. Shellum recently held the position of Vice President, Finance and Special Projects at CrossTex Energy, LP. Mr. Shellum also served as Director of Value Capital, LLC; Chief Financial and Operating Officer at Financial Trade Solutions; Chief Financial Officer at Duer Wagner Co.; and as American International Petroleum Corporation's Chief Financial Officer. Mr. Shellum began his career as a practicing CPA in Arthur Anderson's Energy Group. Mr. Shellum is a graduate of the University of Texas at Arlington with a BBA in Accounting

Mr. Stearns was appointed Executive Vice President in March 2008 after serving as Executive Vice President of Exploration and Development since December 2004. Prior thereto, Mr. Stearns was Vice President of Exploration and Development since November 2003, having previously served as Vice President of Exploration since April 1995. Mr. Stearns joined PDC as a geologist in 1985 after working for Hywell, Incorporated and for Petroleum Consultants.

Mr. Brookman was appointed to his current position in March 2008 after serving as Vice President of Production since joining PDC in 2005. Mr. Brookman has over twenty years of operations experience within the E&P sector. Prior to joining PDC Mr. Brookman worked for Patina oil and gas and predecessor Snyder Oil for 17 years in a series of jobs of increasing responsibility ending his service as Vice President of Operations of Patina. Mr. Brookman received a BS in Petroleum Engineering from the Colorado School of Mines and a MS in Finance from the University of Colorado/Denver.

Ms. Miracle joined PDC in 2004 and was appointed to her current position after serving as Vice President Investor Relations and Communications. Prior to joining PDC, Ms. Miracle was an Investment Representative with Edward Jones for three years. She also has 10 years of oil and gas experience with Dominion Resources, where her focus was primarily in the regulatory area. Ms. Miracle graduated Summa Cum Laude with a B.S. Degree in Accounting from West Virginia University and received her MBA from Duke University.

Mr. Gerdom was appointed to his current position after previously serving as Vice President Exploration. Mr. Gerdom joined PDC in 2000 as Project Manager in the Rocky Mountains. A graduate of the University of Wyoming with a B.S. Degree in Business, Mr. Gerdom has over 25 years of oil and gas experience with both major and independent producers. Prior to joining PDC, Mr. Gerdom was employed as the Chief Operating Officer of Fruehauf Production Company (an independent producing company), as an Asset Manager with Chevron USA, and with Gulf Oil Company's land department.

Mr. Del Rosso was appointed to his current position in April 2009 after joining PDC in January 2008 as Vice President Financial Reporting. He brings with him a strong corporate accounting and finance background with over 22 years experience in financial reporting, system implementation, cost accounting and planning/budgeting. Prior to joining PDC, Mr. Del Rosso served as the Vice President of Finance and Controller for Firearms Training Systems, Inc. in Atlanta, Georgia where he was responsible for the global accounting function and SEC reporting. Before that he was employed for nearly 9 years by Coca-Cola Enterprises, Inc., holding various accounting and financial positions of increasing responsibility. Mr. Del Rosso received his M.B.A. from Florida Southern College in Lakeland, FL, and a B.S. in Business Administration with a Major in Accounting from Robert Morris University in Pittsburgh, PA. He earned his C.P.A. certification in 1994.

Mr. Morgan was appointed to his current position after previously serving as Vice President Production since 1996. Mr. Morgan originally joined in 1982 as a Landman and has since served as Manager of Production through 1993 and more recently as Vice President Production. Between 1981 and 1993, he served as Manager of both the Land and Operations groups, as well as a Landman.

Mr. Schaff has over 27 years of progressive experience in the oil, gas, and mining land services industry. Most recently, he served as Landman Team Leader and Senior Staff Landman for Williams Production RMT Company (successor to Barrett Resources Corporation) where he was responsible for providing land support for the negotiation, closing and drilling of all exploration projects in the Rocky Mountain Region, as well as providing land support for the development program in the Piceance Basin. His earlier experiences include Vice President and Land Manager of Nova Natural Resources Corporation, Consulting Landman for U.S. Borax, Inc., and many years serving as an Independent Landman.

Mr. Schreck was appointed to his current position in October 2007 and brings with him over 21 years of finance and accounting experience. He most recently served as Vice President-Treasury and Planning for Hanover Compression Corporation. During Mr. Schreck's tenure, Hanover's revenues grew from $600 million to over $1.6 billion. Prior to his employment at Hanover, Mr. Schreck held financial positions of increasing responsibility during 13 years at Union Pacific Corporation and its affiliated subsidiaries, the last of which was Treasurer of the oil and gas subsidiary Union Pacific Resources. Mr. Schreck graduated from Lehigh University in June 1986 with a degree in Accounting and obtained a CPA in May 1988.

Mr. Reasoner joined PDC in April 2008 as Vice President Operations. Mr. Reasoner is a graduate of the Colorado School of Mines with a degree in Petroleum Engineering and also earned an MBA from the University of Colorado. Mr. Reasoner has nearly 25 years of progressive technical and management experience in the energy industry. Most recently he served as a Business Unit Manager with Noble Energy Corporation where he was responsible for engineering, geological, and field operations. Prior to his work with Noble Energy, Mr. Reasoner worked for Patina Oil and Gas Company starting as Production Manager working his way up to Vice President Operations. His earlier experience includes positions with Snyder Oil Corporation and Vessels Oil and Gas Company.

Ms. Smith has served as Vice President of Natural Gas and Oil Marketing since January 2006 and is responsible for the marketing activities for both PDC and its subsidiary, Riley Natural Gas Company. She previously served as Director of Natural Gas Marketing of PDC and Manager of Accounting of RNG and has over 15 years of industry experience, focused on the areas of Derivative Trading, Imbalance Management and Marketing. Ms. Smith is a member of the Independent Oil and Gas Association of West Virginia and the Independent Oil and Gas Association of Pennsylvania and is currently serving on the IOGA-WV Board. She is a graduate of West Virginia Wesleyan College with a B.S. in Accounting.

Since 1984, Mr. Seligman has been Director of Sales and Marketing for the Petroleum Development Company (PDC). During his tenure, the company has grown to become the largest distributor of public hydrocarbon drilling programs in the country. Its Investor Relations Department, which he established, receives annual praise from the broker/dealer community as the best in the business.

Ms. Ryan, a licensed Certified Public Accountant in both West Virginia and Washington State, joined PDC in May 2007 and was appointed to her current position in December 2008. A Cum Laude graduate of Fairmont State University with a B.S. in Accounting, Ms. Ryan has more than 30 years of accounting and auditing experience, the last 5 of which have been in various leadership roles related to compliance and internal audit. Before joining PDC, Ms. Ryan held a position with Spacelabs Healthcare, Inc., an international medical manufacturing company, based near Seattle, Washington as the Manager of Internal Audit. While at Spacelabs Healthcare, Inc. her responsibilities were primarily to create an internal audit function for the international medical manufacturing company and its subsidiaries. Ms. Ryan has more than 7 years experience with both regional and national audit firms as an external auditor manager working with the a variety of industries, including but not limited to technology, government contracting and financial institutions. In addition, Ms. Ryan has more than 19 years of accounting experience with increasing responsibilities for a utilities and energy company. Ms. Ryan is a member of the American Institute of Certified Public Accountants (AICPA), Institute of Internal Auditors (IIA) and the West Virginia Society of CPA's (WVCPAS).

Mr. Holm, a Certified Public Accountant, was appointed to his current position in 2006 after joining PDC in the summer of 2005 as an Exploration and Production Accountant. A graduate of Black Hills State University in South Dakota with a B.S. in Accounting, Mr. Holm was previously employed as a Controller for Wold Oil Properties in Casper, Wyoming. Mr. Holm has 5 years experience as a CPA and 8 years in the Oil & Gas Industry.

Ms. Dalton, a Certified Public Accountant, joined PDC in June 2006. Ms. Dalton has over 20 years experience in accounting and finance, with her last eight years focused primarily on the public reporting requirements under the Securities Exchange Act. Prior to joining PDC, Ms. Dalton was employed as a Staff Accountant in the Office of Disclosure Operations of the Division of Corporation Finance at the Securities and Exchange Commission. Prior to that, Ms. Dalton held financial positions of increasing responsibility, with her last position held as the Director of Financial Reporting, during a seven year period with Mylan Laboratories Inc., now Mylan Inc., a publicly traded developer, manufacturer and marketer of generic and proprietary prescription drugs. Ms. Dalton holds an MBA from Waynesburg College in Waynesburg, PA, and a BSBAd in Accounting from West Virginia University in Morgantown, WV.

Mr. McHenry, a Certified Public Accountant, joined PDC in April 2008. Mr. McHenry has over 34 years experience in auditing, accounting and finance, Prior to joining PDC, Mr. McHenry was employed for the previous six years by R.C. Holsinger & Associates, a Pittsburgh based certified public accounting firm as a Senior Manager and head of the Assurance Practice with a specialization in the energy industry. Immediately prior to that, Mr. McHenry served as Chief Financial Officer for Verland, Inc. a large non-profit service provider. Prior to that, Mr. McHenry spent over sixteen years with public accounting firms serving various public and non-public companies including thirteen years as manager or senior manager with KPMG's Pittsburgh office with a specialization in the energy industry . Mr. McHenry holds a BSBAd in Accounting from West Virginia University in Morgantown, WV. Mr. McHenry is a member of the American Institute of Certified Public Accountants (AICPA).

Mr. Seamon, a Certified Public Accountant, joined PDC in December 2006. Mr. Seamon began his career in 1986 and spent over five years at the international public accounting firm of KPMG, two years as an auditor and over three years as a tax specialist and tax supervisor. He continued his public accounting career for two additional years as a manager in the tax department of a regional accounting firm. After a brief two years of employment at PNC Bank N.A., where he focused primarily on federal tax research, Mr. Seamon began his employment at Mylan Laboratories Inc. (now Mylan Inc.) in March 1996 as a Manager of Corporate Taxation. Mr. Seamon was later promoted to Director of Corporate Taxation at Mylan as the responsibilities of his position increased over his eleven years of employment with the company. Mr. Seamon holds a BSBAd in Accounting from West Virginia University in Morgantown, WV and received his CPA license in 1988. He has supplemented his education with graduate level tax courses and continuous professional education in specialized tax accounting areas. Mr. Seamon is a member of the American Institute of Certified Public Accountants (AICPA) and is also a member of the West Virginia Society of CPAs.

Mr. DeLawder joined PDC in April 2006 as Director Human Resources, bringing with him over 25 years of professional experience. A graduate of West Virginia University, Mr. DeLawder’s career includes human resource and operations experience in the energy, government contracting, hi-tech, and manufacturing sectors.

Ms. Griffin joined PDC in 2006. A 1988 graduate of Alderson-Broaddus College, Ms. Griffin has over 15 years in the Information Technology field. Prior to joining PDC, Ms. Griffin served as the Program Director for Mylan Pharmaceuticals in Morgantown responsible for the SAP Human Capital Management and CORE implementations and has operated in various high-level positions within the Oracle Corporation, responsible for Department of Defense Application implementations. Concurrent with her position at Oracle, Ms. Griffin operated as an Independent Consultant assisting several Big 5 Firms with the technical proposals required in securing opportunities within the Federal Government.

Mr. Trippett was appointed to his current position after serving as Manager of Completion Engineering. Mr. Trippett originally joined PDC in 1984 as a Well Tender. While working at PDC, he completed Glenville State College’s Petroleum Engineering Technology School. In his current position, Mr. Trippett is responsible for the drilling and well completion operations for PDC.

Ms. Foster was appointed to her current position after joining PDC in 1997 as a Petroleum Engineer. A graduate of Penn State University with a B.S. Degree in Petroleum and Natural Gas Engineering, Ms. Foster is responsible for monitoring production to insure all wells perform at peak efficiency. She also maintains the annual reserve evaluations and reviews reserve information for potential acquisitions. Prior to joining PDC, Ms. Foster was employed as a Petroleum Engineer with Penn Virginia Oil and Gas Corporation and Equitable Resources. Ms. Foster is a member of the SPE.

Ms. Wakim has been a director since 2003. An Attorney and Certified Public Accountant, Ms. Wakim is a Partner with the law firm Thorp, Reed & Armstrong LLP, joining the firm in 1990. Ms. Wakim serves as Chairperson on the Qualified Legal Compliance Committee. She also serves on the Nominating and Governance Committee and the Audit Committee.

Mr. Crisafio has been a Director since 2006. Mr. Crisafio serves as an independent business consultant, providing financial and operational advice to businesses, and a business owner. Prior thereto he was the Chief Operating Officer of Cinema World, Inc. and a Partner with Ernst & Young. Mr. Crisafio serves on the Audit Committee and the Compensation Committee.

David Parke specializes in public offerings, private placements, fairness opinions and mergers and acquisitions for emerging-growth companies, with a particular focus on the dynamic technology sector. David's experience delivers a strong background in capital markets with an in-depth understanding of the issues particular to technology companies. David joined Boenning & Scattergood in 2006. Prior to that, David was with Mufson Howe Hunter & Company for three years where he was instrumental in launching and developing the firm's technology practice. He was previously with the corporate finance department of Investec, Inc. and its predecessor, Pennsylvania Merchant Group. He has managed or participated in 40 public offerings and private placements, raising over $1 billion for emerging-growth clients. In addition, he has managed mergers and acquisitions assignments ranging from $5 million to $500 million. Prior to joining Investec in 1992, Mr. Parke was in the corporate finance departments of Wheat First Butcher & Singer, now Wachovia Securities, and Legg Mason. David received his MBA with Honors from The Wharton School and graduated summa cum laude and Phi Beta Kappa from Lehigh University with a B.S. in Finance. He is a director of Petroleum Development Corporation, a publicly traded energy company engaged in the development, production and marketing of natural gas and oil, and Zunicom Inc., a publicly traded software and technology distribution company. He is registered with the NASD and holds Series 7 and Series 63 licenses.

Mr. Mazza has been a Director since 2007. Mr. Mazza was instrumental in the formation of and is currently serving as CEO of fast-growing MVB Bank, Inc. of Harrison County, West Virginia. Prior to the formation of MVB Bank, Mr. Mazza served as Senior Vice President Retail Banking Manager for BB&T in West Virginia and as President of two other local West Virginia banks. Prior to his banking experience, Mr. Mazza was a CPA with a Big-Four accounting firm.

Vincent F. D'Annunzio has been a Director since 1989. Mr. D'Annunzio also serves as President of Beverage Distributors, Inc. located in Clarksburg, West Virginia and has held this position since 1985. Mr. D'Annunzio serves as Chairman of the Nominating and Governance Committee. He also serves on the Executive Committee and the Qualified Legal Compliance Committee.