Prometheus Energy and Seneca Resources Sign LNG Services Agreement

      Prometheus Energy and Seneca Resources Sign LNG Services Agreement

Strategic Deal to Further Develop Marcellus Shale Infrastructure using
LNG-Fueled Operations

PR Newswire

HOUSTON, Oct. 25, 2012

HOUSTON, Oct. 25, 2012 /PRNewswire/ -- Prometheus Energy Group Inc.
("Prometheus Energy"), a leading supplier of liquefied natural gas (LNG) to
the industrial sector, today announced it has entered into a long-term master
agreement with Seneca Resources Corporation ("Seneca"), the wholly-owned
exploration and production subsidiary of National Fuel Gas Company (NYSE:NFG)
("National Fuel"), to supply LNG and related equipment and services for
Seneca's initiative to utilize clean-burning natural gas in its drilling
operations.

(Photo: http://photos.prnewswire.com/prnh/20121025/SF00454)

(Logo: http://photos.prnewswire.com/prnh/20111206/SF18166LOGO)

Under the agreement, Prometheus will be Seneca Resources' exclusive turnkey
LNG solutions provider, supplying LNG fuel through its established North
American LNG network, providing onsite mobile LNG storage and vaporization
equipment, and providing skilled local technician support to ensure
operational reliability of LNG equipment. In addition, the agreement will
provide Seneca with an immediate reduction in fuel costs and air emissions
(CO2, SO[2], NOX), coupled with the operational flexibility required in
today's dynamic E&P market.

"Prometheus developed the world's first LNG-fueled drilling rig solutions, and
our market leading experience in the LNG-fueled drilling space makes us
uniquely capable to address the major challenges of an evolving E&P operation
while providing demonstrable value for our customers", said Ron Bertasi, CEO
of Prometheus Energy. "We are extremely pleased to partner with a leader like
Seneca Resources in providing a lower cost, cleaner burning natural gas
alternative for their operations."

"We are proud to be the first operator in the Pennsylvania Marcellus to launch
such a program using dedicated natural gas engine technology. And we are
equally proud to partner with industry leaders such as Prometheus Energy and
our drilling equipment partner Ensign Energy Services Inc.," said Steven
Conley, Vice President of Drilling in Seneca's Pittsburgh office.

Ensign, one of the world's leading land-based drillers and well servicing
providers for crude oil, natural gas and geothermal, operates 15 drilling rigs
exclusively on natural gas in the United States.

About Prometheus Energy

Prometheus Energy is one of the largest and fastest growing suppliers of
liquefied natural gas (LNG) to the industrial sector in North America.
Prometheus provides turnkey fuel solutions to convert industrial users of
diesel, propane and other crude-derived fuels to clean, domestic, secure LNG,
resulting in reduced fuel cost and environmental footprint. The company is
vertically integrated from LNG production through distribution, onsite
storage, and vaporization. A pioneer in the industrial LNG market, Prometheus
developed first-of-their-kind conversions of industrial fuel consumers to LNG
in numerous sectors, and was named a Finalist in the 2012 Platts Global Energy
Awards in recognition of its industry leadership. Prometheus Energy is
privately held by Shell Technology Ventures Fund 1 B.V. and Black River Asset
Management LLC, a wholly owned but independently managed subsidiary of
Cargill. For more information, please visit www.PrometheusEnergy.com

About Seneca Resources Corporation, subsidiary of National Fuel Gas Company

Seneca Resources Corporation, the exploration and production segment of
National Fuel Gas Company explores for, develops, and purchases natural gas
and oil reserves in California and Appalachia. Additional information about
Seneca Resources and National Fuel Gas Company is available at
www.nationalfuelgas.com or through the Company's investor information service
at 1-800-334-2188.

Contacts
Roger Dillon
Laurie Nix Garberg
info@PrometheusEnergy.com
www.PrometheusEnergy.com

Rob Boulware
boulwarer@srcx.com
www.srcx.com

SOURCE Prometheus Energy Group Inc.

Website: http://www.PrometheusEnergy.com
 
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