Penn Virginia Corporation Announces Proposed Private Placement of $400 Million of Senior Notes Due 2020

03.04.2013  |  Business Wire

Penn Virginia Corporation (NYSE: PVA) ('PVA?) announced today that it
intends to offer, subject to market and other conditions, $400 million
aggregate principal amount of senior notes due 2020 in a private
placement to eligible purchasers (the 'Offering?). PVA intends to use
substantially all of the net proceeds from the Offering to finance a
portion of the purchase price for its separately announced pending Eagle
Ford Shale acquisition.

The notes will not be registered under the Securities Act of 1933, as
amended (the 'Securities Act?), or the securities laws of any state and
may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements under the
Securities Act and applicable state securities laws or blue sky laws and
foreign securities laws.

The notes and the related guarantees will be offered only to qualified
institutional buyers under Rule 144A under the Securities Act and to
persons outside the United States under Regulation S under the
Securities Act.

This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be 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 laws of any such state. Any offers of the notes and the
related guarantees will be made only by means of a private offering
memorandum.

Penn Virginia Corporation (NYSE: PVA) is an independent oil and gas
company engaged primarily in the development, exploration and production
of oil and natural gas in various domestic onshore regions including
Texas, Oklahoma, Mississippi and Pennsylvania.For more
information, please visit our website at www.pennvirginia.com.