PDC CLASS ACTION

In the Dufresne Action, as to the RR2006 and RR2007 Partnerships, PDC is again contending that these Partnerships own only "wellbore" interests in vertical wells and not mineral rights in leases in the Wattenberg Field in Colorado purchased with Partnership funds. In the Dufresne Action, FBBC has alleged that PDC violated its fiduciary and contractual obligations to the RR2006 and RR2007 Partnerships and the individual limited partners of those Partnerships through its mismanagement and outright misappropriation of the Partnerships' assets. In fact, PDC has refused to take any steps to permit the Partnerships to realize the value of their assets by recompleting their existing vertical wells and has been drilling horizontal wells through the Partnerships' oil and gas leases for the past several years, extracting oil and gas from those horizontal wells without paying anything to the limited partners of the Partnerships. The Dufresne Action, filed on behalf of the limited partners of the..