JULY 8, 1998
SUPPLEMENT TO THE PROSPECTUS OF PDC 2000 DRILLING PROGRAM DATED JUNE 19, 1998.
THE AVERAGE ANNUAL RATE OF RETURN FOR PURPOSES OF THE PREFERRED SHARING
ARRANGEMENT AS DESCRIBED IN "PARTICIPATION IN COSTS AND REVENUES" IN THE
SUMMARY, IN "PARTICIPATION IN COSTS AND REVENUES - PROFITS AND LOSSES; CASH
DISTRIBUTIONS - REVISION TO SHARING ARRANGEMENTS" IN THE PROSPECTUS BODY, AND
IN SECTION 4.02(b)(ii) OF THE PARTNERSHIP AGREEMENT IS AMENDED TO READ AS
FOLLOWS:
"AVERAGE ANNUAL RATE OF RETURN FOR PURPOSES OF THIS PREFERRED SHARING
ARRANGEMENT SHALL BE DEFINED AS (1) THE SUM OF CASH DISTRIBUTIONS AND
ESTIMATED INITIAL TAX SAVINGS OF 25% OF INVESTOR SUBSCRIPTIONS, REALIZED
FOR A $10,000 INVESTMENT IN THE PARTNERSHIP, DIVIDED BY (2) $10,000
MULTIPLIED BY THE NUMBER OF YEARS (LESS SIX MONTHS) WHICH HAVE ELAPSED
SINCE THE CLOSING OF THE PARTNERSHIP."
THE INFORMATION PRESENTED UNDER THE FOLLOWING CAPTIONS "SUMMARY --
PARTICIPATION IN COSTS AND REVENUES" ON PAGE 5, "PARTICIPATION IN COSTS AND
REVENUES -- REVISION TO SHARING ARRANGEMENTS" ON PAGE 28, AND "PARTICIPATION
IN COSTS AND REVENUES -- CASH DISTRIBUTION POLICY" ON PAGE 32 DISCUSSES THE
PROGRAM'S REVISED SHARING ARRANGEMENT POLICY. THE FOLLOWING PARAGRAPH IS
PRESENTED AS AN ADDED PRECAUTION TO INVESTORS IN THE PARTNERSHIP:
"THE ABOVE-REFERENCED REVISED SHARING ARRANGEMENT POLICY IS NOT, AND
SHOULD NOT BE CONSIDERED BY ANY INVESTOR PARTNER TO BE, ANY FORM OF
GUARANTEE OR ASSURANCE OF A RATE OF RETURN ON AN INVESTMENT IN THE
PARTNERSHIP. THE POLICY IS THE RESULT OF A CONTRACTUAL AGREEMENT BY
THE MANAGING GENERAL PARTNER AS SET FORTH IN SECTION 4.02 OF THE
PARTNERSHIP AGREEMENT. THERE IS NO GUARANTEE OR ASSURANCE WHATSOEVER
THAT THE PARTNERSHIP WILL DRILL COMMERCIALLY SUCCESSFUL GAS WELLS OR
THAT THE CASH DISTRIBUTIONS TO THE PARTNERS, INCLUDING ANY CASH
DISTRIBUTIONS PURSUANT TO THE POLICY, WILL ACHIEVE A 12.8% RATE OF
RETURN."
