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,
	2002			2003			2004			2005			2006
Earnings
Pre-tax income *	$	29,705		$	55,987		$	72,779		$	130,918		$	167,080
Fixed charges		4,068			8,379			11,067			20,755			31,313
Total earnings	$	33,773		$	64,366		$	83,846		$	151,673		$	198,393
Fixed Charges
Interest expense **	$	3,125		$	7,352		$	9,679		$	18,815		$	27,984
Rental interest factor		943			1,027			1,388			1,940			3,329
Total fixed charges	$	4,068		$	8,379		$	11,067		$	20,755		$	31,313
Ratio of earnings to fixed charges		8.3	x		7.7	x		7.6	x		7.3	x		6.3	x

* Excludes equity earnings from investees and includes capitalized interest.

** Includes capitalized interest.