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Encal Energy Ltd. Receives Shareholder and Court Approval to


                         Complete 
                                Calpine Merger 


  CALGARY, Alberta, and SAN JOSE, Calif., April 18 /PRNewswire/ -- 
Encal Energy Ltd. ("Encal") (NYSE: ECA; Toronto: ENL) and Calpine Corporation 
(NYSE: CPN) announced today that the proposed merger with Calpine Corporation 
was approved earlier today at a special meeting of shareholders and 
optionholders.  The shareholders and optionholders voted 99.95% in favor of 
the resolution approving the entering into of the Plan of Arrangement to 
effect the business combination with Calpine Corporation.  The proposed merger 
was also approved today by the Court of Queen's Bench of Alberta.  Encal and 
Calpine expect to consummate the merger on April 19, 2001.  
The matters discussed in this news release may be considered 
"forward-looking" statements within the meaning of Section 27A of the 
Securities and Exchange Act of 1993, as amended, and Section 21E of the 
Securities Exchange Act of 1934, as amended.  Such statements include 
declarations regarding the intent, belief or current expectations of Encal and 
Calpine and their management.  Prospective investors are cautioned that any 
such forward-looking statements are not guarantees of future performance and 
involve a number of risks and uncertainties and actual results could differ 
materially from those indicated by such forward-looking statements.  Among the 
important factors that could cause results to differ materially from those 
indicated by such forward-looking statements are (i) that the information is 
of a preliminary nature and may be subject to further adjustments, (ii) risks 
associated with mergers including the ability to integrate Encal and Calpine 
operations, (iii) changes in government regulation, (iv) general operating 
risks, (v) the dependence on third parties, including Encal shareholders, (vi) 
the dependence on senior management, (vii) the successful exploitation of an 
oil or gas resource that ultimately depends upon the geology of the resource, 
the total amount and cost to develop recoverable reserves, and operational 
factors relating to the extraction of natural gas, and (viii) other risks 
identified from time to time in Encal's Annual Report and Annual Information 
Form filed with the Canadian regulatory authorities and Calpine's reports and 
registration statements filed with the Securities and Exchange Commission. 
  

SOURCE  Calpine Corporation  
-0-                             04/18/2001  
/CONTACT:  David D. Johnson, President and Chief Executive Officer, or 
Steven A. Allaire, Vice President Finance and Chief Financial Officer, 
403-750-3300, or fax 403-266-2337 or invrel@encal.com, both of Encal Energy 
Ltd.; or Bill Highlander, ext. 1244, or investors, Rick Barraza, ext. 1125, 
both of Calpine Corporation, 408-995-5115/  
/Web site:  http://www.calpine.com/  
(CPN ENL. ECA)  
CO:  Encal Energy Ltd.; Calpine Corporation 
ST:  California, Alberta 
IN:  OIL 
SU:  TNM  
-0- Apr/18/2001 23:50 GMT
 
 
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