2008-09-02-2008-03-12-2008-03-12

Bought assets in Williston Basin, gaining 28 Bcfe proved, 5 MMcfe/d.

An undisclosed buyer has acquired producing properties in the Williston Basin in the Rockies from Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) for approximately $80 million. The assets include 28 billion cubic feet of oil equivalent of proved reserves on approximately 10,000 net acres. Production is 5 million cubic feet equivalent per day. The sale represents an exit from the Williston Basin for Chesapeake. Meagher Oil & Gas Properties Inc. was advisor to Chesapeake.