C.K. Cooper & Co. Upgrades Petroleum Development Corp. To Short-Term Strong-Buy, Placed $8 Goal Price

Business Wire, May 28, 1998

IRVINE, Calif.--(BUSINESS WIRE)--May 28, 1998--C.K. Cooper & Co. Thursday released a two page research report on Petroleum Development Corp. (Nasdaq: PETD).

In this report, C.K. Cooper raised its Short-Term rating to Strong-Buy from Buy and maintained its Long-Term Rating of Buy. C.K. Cooper & Co. further stated that based upon 1997 earnings, and its 1998 projection of $9.2 million that it placed a target price of $8 per share.

The full text of the report is available at C.K. Cooper's Web site at http://www.ckcooper.com.

For more information, contact:

C.K. Cooper & Company 18500 Von Karman Avenue, Suite 560 Irvine, Calif., 92612

Telephone: 949/477-9300 Facsimile: 949/477-9211 E-mail: amontano@ckcoop.com

C.K. Cooper & Co. is an investment banking boutique that specializes in the energy sector with an emphasis on exploration and production companies.

CONTACT: C.K. Cooper & Co.

Alexander Montano, 949/477-9300

Fax: 949/477-9211

E-mail: amontano@ckcoop.com