Rosetta Completes Purchase of Oil and Gas Properties for $1.05 Billion

Rosetta Completes Purchase of Oil and Gas Properties for $1.05
Billion 


HOUSTON, July 7  /PRNewswire-FirstCall/ -- Rosetta Resources Inc. (Rosetta), a
newly formed corporation, announced today that it has completed the purchase of
all of the domestic oil and gas exploration and production assets formerly
owned by Calpine Corporation for $1.05 billion, less approximately $60 million
of transaction fees and expenses.

To finance the acquisition, Rosetta recently raised $725 million through the
issuance of 45,312,500 of its common shares. 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. The purchase price contemplates payment in full subject to
the completion of certain post closing requirements.  Following this
transaction, Calpine no longer owns any interest in Rosetta.

The Rosetta common shares were offered in a private placement under Rule 144A,
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. This news release is issued pursuant
to Rule 135c under the Securities Act and shall not constitute an offer to sell
or the solicitation of an offer to buy. Securities laws applicable to private
placements under Rule 144A limit the extent of information that can be provided
at this time.

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.

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. 

DATASOURCE: Rosetta Resources Inc.



CONTACT:  Theresa Greer of Rosetta Public Relations, [phone]



Web site:  http://www.calpine.com/ 

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