CPN Calpine Corp.

Rosetta Overallotment Option Exercised HOUSTON, July 18 /PRNewswire/ -- Rosetta Resources Inc., a newly formed corporation (Rosetta) announced today that following the acquisition of all of the domestic oil and gas exploration and production assets of Calpine Corporation for $1.05 billion, less transaction fees and expenses, the overallotment option related to its private placement has been exercised to the extent of 4,687,500 shares of its common stock. As previously announced, Rosetta recently purchased all of the domestic oil and gas exploration and production assets formerly owned by Calpine Corporation (NYSE:CPN). Rosetta raised funds for the purchase through a combination of debt and equity transactions. Rosetta sold in a private placement transaction an aggregate of 45,312,500 shares of its common stock for aggregate gross proceeds of $725 million. Rosetta used the net proceeds from that transaction, together with $325 million of proceeds from a new credit facility, to purchase all of Calpine's domestic oil and gas exploration and production assets. Following this initial transaction, the overallotment option granted by Rosetta to the placement agent for the transaction has been exercised to the extent of 4,687,500 shares of common stock. As a result Rosetta has received aggregate gross proceeds of $75 million which will be used for general corporate purposes. The Rosetta common shares have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Rosetta Resources Inc. is an independent oil and gas company engaged in the acquisition, exploration, development and production of oil and gas properties in North America. Our operations are concentrated in the Sacramento Basin of California, South Texas, the Gulf of Mexico and the Rocky Mountains. Rosetta currently has 100 employees with primary offices in Houston, Texas and Denver, Colorado, and field offices in Rio Vista, California, Laredo, Texas and Magnolia, Arkansas. Rosetta's Officers and Directors are as follows: B.A. (Bill) Berilgen Chairman of the Board, President and CEO Michael J. Rosinski Executive Vice President, CFO, Secretary and Treasurer Charles F. Chambers Executive Vice President, Corporate Development Edward E. Seeman Vice President, Northern Division Richard W. Beckler Director Donald D. Patteson Director D. Henry Houston Director For more information, visit http://www.rosettaresources.com/ Forward-Looking Statements All statements, other than statements of historical fact, included in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current expectations and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. Rosetta assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law. Rosetta Resources Inc. Purchases Calpine's Domestic Oil and Gas Assets As previously announced, Rosetta recently purchased all of the domestic oil and gas exploration and production assets formerly owned by Calpine Corporation. Rosetta raised funds for the purchase through a combination of debt and equity transactions. Rosetta sold in a private placement transaction an aggregate of 45,312,500 shares of its common stock for aggregate gross proceeds of $725 million. Rosetta used the net proceeds from that transaction, together with $325 million of proceeds from a new credit facility, to purchase all of Calpine's domestic oil and gas exploration and production assets. Following this initial transaction, the overallotment option granted by Rosetta to the placement agent for the transaction has been exercised to the extent of 4,687,500 shares of common stock. As a result Rosetta has received aggregate gross proceeds of $75 million which will be used for general corporate purposes. The Rosetta common shares have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. About Rosetta Resources Inc. Rosetta Resources Inc. is an independent oil and gas company engaged in the acquisition, exploration, development and production of oil and gas properties in North America. Our operations are concentrated in the Sacramento Basin of California, South Texas, the Gulf of Mexico and the Rocky Mountains. Executive Officers and Directors B.A. (Bill) Berilgen, Chairman of the Board, President and Chief Executive Officer Michael J. Rosinski, Executive Vice President, Chief Financial Officer, Secretary and Treasurer Charles F. Chambers, Executive Vice President, Corporate Development Edward E. Seeman, Vice President, Northern Division Richard W. Beckler, Director Donald D. Patteson, Jr., Director D. Henry Houston, Director Locations Rosetta Resources Inc. currently has 100 employees. Primary offices in Houston, Texas and Denver, Colorado. Field offices in Rio Vista, California, Laredo, Texas and Magnolia, Arkansas. Houston 717 Texas, Suite 2800 Houston, TX 77002 Main: (713) 335-4000 Denver 1200 17th Street, Suite 770 Denver, CO 80202 Main: (720) 359-9140 For more information, visit http://www.rosettaresources.com/ . DATASOURCE: Rosetta Resources Inc. CONTACT: Theresa Greer, Public Relations of Rosetta Resources Inc., +1-713-335-4000 Web site: http://www.rosettaresources.com/

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