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EXHIBIT 99
December 12, 2000
NEWS FOR IMMEDIATE RELEASE
GOTHIC ENERGY CORPORATION
ANNOUNCES APPROVAL OF MERGER WITH
CHESAPEAKE ENERGY CORPORATION
Tulsa, Oklahoma...GOTHIC ENERGY CORPORATION (OTC Bulletin Board: GOTH) announced
that at a special meeting of its stockholders held today, the proposal to merge
Gothic Energy Corporation into Chesapeake Merger 2000 Corp., a wholly owned
subsidiary of Chesapeake Energy Corporation, was approved. Of the outstanding
shares of Gothic Energy Corporation Common Stock, 72.8% voted in favor of the
proposal.
The closing of the merger is expected to occur on or about January 15, 2001, at
which time Gothic Energy Corporation shareholders will be entitled to receive
.1908 shares of Chesapeake Energy Corporation common stock for each share of
Gothic common stock, subject to possible adjustment.
This press release may contain other forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any
such statements reflect the Company's current views with respect to future
events and financial performance. No assurances can be given, however, that
these events will occur and actual results could differ materially from those
projected. A discussion of important factors that could cause actual results to
differ materially from those projected is included in the Company's periodic
reports filed with the Securities and Exchange Commission and the proxy
statement relating to the special meeting.
Gothic Energy Corporation is an oil and gas acquisition, exploitation,
development and production company headquartered in Tulsa, Oklahoma. Additional
information may be obtained by contacting officers of the Company, Michael Paulk
or Steven Ensz at the corporate headquarters. Gothic is located at 6120 South
Yale Avenue, Suite 1200, Tulsa, Oklahoma, 74136; telephone number (918)
749-5666; facsimile (918) 749-5882.
