Penn Virginia Corporation Announces Results of the Tender Offer for Its 4.50% Convertible Senior Subordinated Notes Due 2012 (PVA)

Penn Virginia Corporation (NYSE: PVA) announced today the expiration andfinal results of its previously announced cash tender offer for any and allof its outstanding 4.50% Convertible Senior Subordinated Notes due 2012 (the"Convertible Notes"), at a purchase price of $1,035.00 for each $1,000principal amount of Convertible Notes validly tendered and not validlywithdrawn. The tender offer expired at 12:00 midnight, New York City time,on April 12, 2011.As of the Expiration Date, approximately $225.1 million aggregate principalamount of the Convertible Notes, representing approximately 98% of theaggregate principal amount of the Convertible Notes outstanding prior to thetender offer, were validly tendered and not validly withdrawn. PVA acceptedfor purchase all Convertible Notes validly tendered and not validlywithdrawn pursuant to the Offer, resulting in aggregate consideration ofapproximately $233.0 million (plus approximately $4.2 million in aggregateaccrued interest), excluding any applicable tax withholding. Payment for theConvertible Notes tendered and accepted for purchase will be made onWednesday, April 13, 2011. PVA intends to promptly cancel all theConvertible Notes it has accepted for purchase and upon giving effect tosuch cancellation, approximately $4.9 million aggregate principal amount ofthe Convertible Notes will remain outstanding.