9/10/2007 5:03 PM | Chesapeake Energy - America's Champion of Natural Gas

Comment from Chesapeake Energy Corporation Concerning Decision Regarding the Red Rock Power Plant

9/10/2007 5:03 PM

OKLAHOMA CITY--(BUSINESS WIRE)--Sept. 10, 2007--Chesapeake Energy Corporation (NYSE:CHK) released the following comment by Tom Price, Jr., Senior Vice President - Corporate Development, concerning today's action by the Oklahoma Corporation Commission to deny the application to build a coal-fired power plant in Red Rock, Oklahoma.

"We are certainly pleased with today's ruling at the Oklahoma Corporation Commission denying the application for a coal-fired power plant. We know the decision was reached after a thoughtful, thorough and fair review of the economics and environmental facts. This certainly is great news for all Oklahomans and bodes well for future generations of Oklahomans."

Chesapeake Energy Corporation is the largest independent producer and third-largest overall producer of natural gas in the United States. Headquartered in Oklahoma City, the company's operations are focused on exploratory and developmental drilling and corporate and property acquisitions in the Mid-Continent, Fort Worth Barnett Shale, Fayetteville Shale, Permian Basin, Delaware Basin, South Texas, Texas Gulf Coast, Ark-La-Tex and Appalachian Basin regions of the United States. The company's Internet address is www.chkenergy.com.

CONTACT: Chesapeake Energy Corporation, Oklahoma City
Tom Price, Jr.
405-879-9257
Senior Vice President - Corporate Development
tprice@chkenergy.com
SOURCE: Chesapeake Energy Corporation

The information includes forward-looking statements, which are subject to known and unknown risks and uncertainties that could cause actual results to differ materially. We refer you to the discussion of risk factors that could affect future operating or financial performance in our most recent prospectus and Form 10-K and other SEC Filings. Chesapeake assumes no obligation to update any forward-looking statements made here as a result of new information or future events or developments. You will find a reconciliation of any non-GAAP financial measure, as defined by the SEC in Regulation G, to the most directly comparable GAAP number in Reconciliation of Non-GAAP Financial Measures.

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