Penn Virginia Corporation Announces Public Offering of 3,500,000 Shares of Common Stock

RADNOR, Pa.--(Business Wire)--
Penn Virginia Corporation (NYSE:PVA) announced today a registered underwritten
public offering of 3,500,000 shares of its common stock. The underwriters will
have up to 30 days to purchase up to 525,000 additional shares of its common
stock. Net proceeds from the offering are expected to be used to pay down a
portion of the outstanding borrowings under PVA`s revolving credit facility and
for general corporate purposes.

J.P. Morgan Securities Inc. and RBC Capital Markets Corporation are acting as
joint book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration
statement. The offering may be made only by means of a prospectus supplement and
the accompanying prospectus, copies of which may be obtained by sending a
request to: J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level,
Brooklyn, NY 11245, Attn: Chase Distribution and Support Service Northeast
Statement Processing, telephone: (718) 242-8002, fax: (718) 242-8003, or RBC
Capital Markets Corporation, Three World Financial Center, 200 Vesey Street, 8th
Floor, New York, NY 10281-8098, Attention: Equity Syndicate, telephone: (212)
428-6670.

This press release does not constitute an offer to sell or a solicitation of an
offer to buy any securities, nor shall there by any sale of these securities in
any state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities law of any such state.

Penn Virginia Corporation (NYSE:PVA) is an independent natural gas and oil
company focused on the exploration, acquisition, development and production of
reserves in onshore regions of the United States, including East Texas,
Mississippi, the Mid-Continent region, the Appalachian Basin and the Gulf Coast
of Louisiana and Texas.We also own approximately 77 percent of Penn Virginia GP
Holdings, L.P. (NYSE: PVG), the owner of the general partner and the largest
unit holder of Penn Virginia Resource Partners, L.P. (NYSE: PVR), a manager of
coal and natural resource properties and related assets and the operator of a
midstream natural gas gathering and processing business.

Certain statements contained herein that are not descriptions of historical
facts are "forward-looking" statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Because such statements include risks, uncertainties
and contingencies, actual results may differ materially from those expressed or
implied by such forward-looking statements. These risks, uncertainties and
contingencies include, but are not limited to, the risks, uncertainties and
contingencies set forth in our press releases and public periodic filings with
the SEC, including our Annual Report on Form 10-K for the year ended December
31, 2008, our ability to access external sources of capital, uncertainties
relating to the occurrence and success of capital-raising transactions,
including securities offerings and asset sales and reductions in the borrowing
base under our credit facility. Many of the factors that will determine our
future results are beyond the ability of management to control or predict.
Readers should not place undue reliance on forward-looking statements, which
reflect management's views only as of the date hereof. We undertake no
obligation to revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as the result of new information,
future events or otherwise.

Penn Virginia Corporation
James W. Dean
Vice President, Investor Relations
Ph: 610-687-7531
Fax: 610-687-3688
invest@pennvirginia.com

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