Petroleum Development Corp.'s President Resigns

Petroleum Development Corporation announced that Thomas E. Riley has resigned from his position as President. An industry executive with over 12 years of dedicated service to PDC and 20 years with Riley Natural Gas, as well as 34 years of industry experience, Mr. Riley's resignation was effective March 9, 2008. On February 12, 2008, the Company initially disclosed Mr. Riley's expected departure.

Steven R. Williams, CEO stated, "Tom's technical and strategic contributions to PDC have served as a catalyst for our success. He has been an integral part of the executive leadership team and remains a great friend of the company."