CHK West Turkey Creek

WEST TURKEY CREEK AREA
GRANITE WASH AND HOGSHOOTER WASH
HORIZONTAL PLAY

Approximately 28,360 net acres located directly west of the Colony Wash Field in Beckham, Custer and Washita Counties, Oklahoma

PRODUCING ASSETS

• Total of 117 wells (113 producing, 2 horizontal wells currently drilling and 2 shut in)
• Producing zones: Des Moines Granite Wash, Hogshooter Wash, Cottage Grove, Red Fork, Atoka and Morrow
• Chesapeake operates 25 wells (14 horizontal and 11 vertical), with average 63.4% GWI and 50.8% NRI (80.0% leasehold NRI)
• Ninety-two non-operated wells average 13% working interest and 10.5% NRI (80.8% leasehold NRI)
• Averages over the past 12 months (August 2011 - July 2012):
        Net Sales:  765 BOPD, 684 BPD NGLs and 9,935 MCFD
        Operating Net Cash Flow: $3,234,018 per month

LEASEHOLD RIGHTS

• Approximately 28,360 net acres blocked up and contiguous within six townships in Beckham, Custer and Washita Counties, average leasehold to be delivered no less than 80% NRI
• Fifty-one HBP sections with no preferential rights, no BIA/BLM leases, and includes only a small number of CLO leases
• Chesapeake owns 320 net acres or more in 43 sections allowing for operational control

ESTABLISHED REVENUE STREAM WITH ONGOING DEVELOPMENT

• Chesapeake is offering this unique exploration and development opportunity because its current drilling budget is not sufficient to fully develop its leasehold in this area

NOTE: A Confidentiality Agreement (“CA”) must be executed prior to receiving the data package.