Calpine Corp.

Calpine Corp. has retained Waterous & Co. to sell Canadian assets including 230 billion cubic feet equivalent of proved reserves producing approximately 70 million cubic feet equivalent of gas per day. It may also sell its 25% interest in Calgary-based Calpine Natural Gas Trust, which holds 80 billion cubic feet equivalent of proved reserves (net of royalties) and produces approximately 7,300 barrels of oil equivalent per day.