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Northeast Natural Energy and Metalmark Capital Form Partnership

NNE is led by its Founder and President, Mike John, who previously served as Vice President of Operations of the Eastern Division for Chesapeake Energy (NYSE: CHK), where he oversaw Chesapeake's Marcellus activity from 2005 to 2009. Prior to joining Chesapeake Energy, Mr. John was a senior executive occupying various roles at Triana Energy (Metalmark principals' first investment with the founding executives of NNE) and Columbia Natural Resources. The other founding executives of NNE, John Adams, Mark Williams and Jo Ellen Yeary, all worked together previously at Triana Energy and Columbia Natural Resources. Mr. Adams also worked at Chesapeake Energy from 2005 to 2009, where he was the Director of Reservoir Engineering for the Eastern Division.

"We are pleased to continue our longstanding relationship with Metalmark and pursue the attractive opportunities that exist in the Marcellus," said John. "Our team possesses an enormous amount of expertise regarding the Marcellus Shale along with considerable knowledge pertaining to the entire Appalachian Basin, given our experience at Chesapeake Energy, Triana Energy, and Columbia Natural Resources. We are well positioned to partner with others or acquire acreage and assets given our deep understanding of the sector and strong financial backing from Metalmark."

"Consistent with our strategy of backing successful management teams over many years and different platforms, we are delighted to have the opportunity to continue our relationship with Mike John and the NNE team," added Howard Hoffen, Chairman and CEO of Metalmark. "Mike has proven his ability over many years to build new businesses with substantial scale and scope. We look forward to capitalizing on the substantial opportunities available in the Marcellus."

About Northeast Natural Energy

Northeast Natural Energy, LLC, headquartered in Charleston, WV, is a private oil and gas company focused on the natural gas drilling, exploration, acquisition and joint-venture opportunities in the Marcellus Shale. The principals of NNE have worked together in various capacities for over 20 years and possess a significant amount of knowledge and operational expertise in the Appalachian Basin, in particular the Marcellus Shale formation.

For more information, please visit www.northeastnaturalenergy.com.

About Metalmark Capital

Metalmark Capital is a leading private equity firm whose principals have a long track record of successful investing in targeted sectors, with particular focus and competence in energy and natural resources, industrials and healthcare. Metalmark Capital seeks to build long-term value through active and supportive partnerships with the companies and management teams in which they invest. Metalmark Capital is an investment center of Citi Capital Advisors.

For more information, please visit www.metalmarkcapital.com.

This press release does not constitute an offering of interests in any fund or partnership managed by Metalmark Capital. If and when an investment opportunity is structured, all investors must obtain and carefully read the related confidential offering memorandum and any amendments or supplements thereto.

Northeast Natural Energy, LLC
Mark Williams, 304-414-7070
mwilliams@nne-llc.com