/C O R R E C T I O N -- Chesapeake Energy Corporation/

In the news release, Chesapeake Energy Corporation Defers Tender Offer for Outstanding Shares Of Canaan Energy Corporation Pending Discussions With Canaan Management, issued earlier today by Chesapeake Energy Corporation over PR Newswire, we are advised by the company that the first paragraph, second sentence, and the third paragraph, first sentence, should read "March 11, 2002" rather than "March 11, 2001" as originally issued inadvertently. Also, the last three paragraphs should be replaced by the following paragraph:

This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. Any tender offer will be made only through an offer to purchase and the related letter of transmittal. If a tender offer is commenced, investors and security holders are strongly advised to read the tender offer statement regarding the tender offer referred to in this press release, if and when filed, because it will contain important information. Any such tender offer statement would be filed by Chesapeake with the Securities and Exchange Commission (SEC). Investors and security holders may obtain a free copy of the tender offer statement and other relevant documents, if and when filed, on the SEC's web site at: http://www.sec.gov/ .

PRNewswire-FirstCall -- March 15

SOURCE: Chesapeake Energy Corporation