SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) September 15, 1997
Petroleum Development Corporation
(Exact Name of Registrant as Specified in Charter)
Nevada 0-7246 95-2636730
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
103 East Main Street; Bridgeport, WV 26330
(Address of Principal Executive Offices)
Registrant's telephone number, including area code 304-842-3597
no change
(Former Name or Former Address, if Changed Since Last Report
<PAGE>
Item 5. Other Events.
On September 15, 1997, the Registrant sold in a private placement
100,000 units, each unit consisting of five shares of common stock and one
stock purchase warrant, at $20.00 per unit and raised proceeds of $2
million. The offering was made to accredited investors only. The
Registrant did not pay any cash sales commissions in connection with the
offering; rather it issued a total of 25,000 warrants to the placement
agent. Each warrant is exercisable until September 15, 1999, at $6.00 per
share and is not transferable. Neither the common stock, the warrants,
nor the common stock purchasable upon exercise of the warrants has been
registered under the Securities Act of 1933; and there are no registration
rights attached to any of aforementioned securities. The net proceeds of
the offering will be utilized by the Registrant for general corporate
purposes.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits.
4. Form of Stock Purchase Warrant.<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Petroleum Development Corporation
Date By /s/ Dale G. Rettinger
Dale G. Rettinger
