Gas lease assigned to Chesapeake Energy Corporation

Fort Worth, TX

11/12/2007

The natural gas exploration lease for TCU's campus has been transferred from Four Sevens Resources Co., Ltd. to Chesapeake Exploration, LLC, an affiliate of Chesapeake Energy Corporation. Chesapeake, headquartered in Oklahoma, is recognized as the country’s largest independent producer and third-largest overall producer of natural gas.

Currently, Chesapeake has begun to conduct site analysis near remote parking on the north side of campus. In addition, the company also will begin the process of filing initial permits with the Texas Railroad Commission and communicating with local residents.

TCU’s decision to drill follows on the heels of other Metroplex organizations pursuing natural gas exploration opportunities with Chesapeake. These organizations include the City of Fort Worth, Tarrant County College, Fort Worth Independent School District, Tarrant Regional Water District, Colonial Country Club and the Dallas/Fort Worth International Airport. The University announced in August that it signed a lease with Four Sevens to explore for natural gas on its campus.