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CHESAPEAKE ENERGY CORPORATION RECEIVES ADVERSE TRIAL COURT RESULTS

 OKLAHOMA CITY, Okla., Feb. 15 /PRNewswire/ -- Chesapeake Energy Corporation (NASDAQ-NMS: CSPK) today announced that on Friday, Feb. 12, an Oklahoma state district court jury rendered a $2.1 million judgment against one of its wholly owned subsidiaries and its principal executive officers, Aubrey K. McClendon and Tom L. Ward, and certain of their respective affiliates. One of the Chesapeake defendants was also granted a judgment against the prevailing party in the amount of $237,000. The defendants, who have joint and several liability for the judgment, intend to initiate and pursue an appeal of the judgment. A spokesman for Chesapeake stated: "We believe there were numerous reversible errors committed during the trial which should result in a complete reversal of the judgment, and we intend to pursue vigorously all avenues of appeal. Messrs. McClendon and Ward and their respective affiliates have agreed to indemnify Chesapeake against the judgment, and Chesapeake has agreed to pay all costs associated with the appeal."
 -0- 2/15/93
 /CONTACT: Marcus C. Rowland, vice president of Chesapeake Energy Corporation, 405-848-8000, ext. 32/
 (CSPK)


CO: Chesapeake Energy Corporation ST: Oklahoma IN: OIL SU:

TM-KW -- NY038 -- 6616 02/15/93 17:00 EST
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Publication:PR Newswire
Date:Feb 15, 1993
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