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Valero Signs Agreement to Sell Paulsboro Refinery for $360 Million Plus Working Capital and Inventories

San Antonio, September 28, 2010 - A subsidiary of Valero Energy Corporation (NYSE: VLO) announced it has signed an agreement to sell the ownership of its 185,000 bpd Paulsboro refinery to PBF Holding Company LLC, a wholly owned subsidiary of PBF Energy Company LLC. The net sale price is approximately $360 million plus the value of net working capital and inventories, currently estimated to be $275 million. Consideration for the $360 million sale price consists of $180 million in cash at closing and a note in the amount $180 million with a term not to exceed 18 months. The transaction is expected to close in the fourth quarter and is contingent upon regulatory and other customary approvals.  

Valero decided to explore its strategic options for the Paulsboro refinery in the third quarter of 2009 as part of its ongoing evaluation of its portfolio of assets. Earlier this year, a PBF subsidiary purchased the terminaling operations and idle refining assets at Valero’s shutdown Delaware City refinery.  

“The sale brings Valero a fair value for the operation and will allow us to achieve our stated strategic goal to exit refining in the U.S. East Coast and focus on other opportunities,” said Valero Chairman and CEO Bill Klesse.  

About Valero:

Valero Energy Corporation is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Its assets include 15 petroleum refineries with a combined throughput capacity of approximately 2.8 million barrels per day, 10 ethanol plants with a combined production capacity of 1.1 billion gallons per year, and a 50-megawatt wind farm. Valero is also one of the largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon brands. Based in San Antonio, Valero is a Fortune 500 company with approximately 21,000 employees. Please visit www.valero.com for more information.

For More Information Contact
Investors:
Ashley Smith, Vice President
Valero Energy Corporation, San Antonio
Investor Relations
210-345-2744
www.valero.com
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Media:
Bill Day, Executive Director
Valero Energy Corporation, San Antonio
Corporate Communications
210-345-2928
www.valero.com
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Sept. 27, 2010
Contact: Office of Communications
Phone: 202-693-1999

Jacobs Engineering Group Inc. receives
Voluntary Protection Programs safety recognition award

WASHINGTON – The Occupational Safety and Health Administration (OSHA) today recognized Jacobs Engineering Group Inc. for excellence in worker safety and health by approving the corporation as a Voluntary Protection Programs (VPP) Corporate participant. Only seven other corporations currently hold this recognition in the United States.

The VPP Corporate program is designed for corporations which demonstrate a strong commitment to worker safety and health and VPP. These organizations, typically large corporations or federal agencies, have adopted VPP on a large scale for protecting the safety and health of its workers.

Jacobs demonstrates a strong commitment to worker safety and health and VPP by establishing a standardized corporate-level safety and health management program that is implemented throughout the organization. Jacobs also implemented an internal screening process that evaluates the company’s facilities for safety and health performance.

“OSHA can achieve its mission of protecting workers’ safety and health if businesses do their part in implementing effective safety and health programs and systems,” said Assistant Secretary of Labor for OSHA Dr. David Michaels. “Jacobs Engineering Group has proven its commitment to ensuring a safe environment for its more than 50,000 workers.”

Jacobs provides technical services to facilities in aerospace and defense, pharmaceutical, and oil and gas industries, among others.

OSHA’s VPP recognizes employers and workers who have implemented exemplary workplace safety and health management systems. In VPP, management, labor and OSHA work together to prevent injuries, illnesses and workplace hazards. To attain VPP status, employers must demonstrate management’s commitment to the safety and health of their workers and involve them in safety and health management systems.

Under the Occupational Safety and Health Act of 1970, employers are responsible for providing safe and healthful workplaces for their employees. OSHA’s role is to assure these conditions for America’s working men and women by setting and enforcing standards, and providing training, education and assistance. For more information, visit http://www.osha.gov.

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U.S. Labor Department news releases are accessible on the Internet at www.dol.gov. The information in this release will be made available in alternative format upon request (large print, Braille, audiotape or disc) from the Central Office for Assistive Services and Technology. Please specify which news release when placing your request. Call 202-693-7828 or TTY 202-693-7755.

NorthWestern Energy Purchases Battle Creek Natural Gas Field

Butte, MT, September 23, 2010 - NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) announced that it has purchased a majority interest in the Battle Creek Natural Gas Field on the Sweetgrass Arch in Blaine County, Montana (“Battle Creek Field”), from a private owner. The purchase also includes the seller’s interest in the Battle Creek Gas Gathering System Joint Venture.

The Battle Creek Field purchase consists of the seller’s interests in producing wells and a gathering system.  The amount of net proven developed producing reserves purchased are estimated to be 7.6 billion cubic feet (“Bcf”).  Annual net production attributable to the purchase is currently approximately 0.5 Bcf or about 2.2% of NorthWestern’s current annual consumption in Montana.

“Owning natural gas reserves is intended to provide customers with a source of rate-based energy that helps hedge against price volatility,” said Bob Rowe, President and CEO. “We are excited that we were able to purchase this relatively small production field which already serves our natural gas customers under a soon-to-expire purchase agreement.  With this acquisition, we will continue to dedicate this resource to our natural gas customers and will not use it as a source of supply for our soon-to-be-completed Mill Creek generation station.”

Under the terms of the agreement, NorthWestern paid the seller $11.4 million cash for the majority interest in the Battle Creek Field assets including the gathering system.  NorthWestern funded the transaction by drawing on its revolving credit facility, which after the purchase has an availability of approximately $160 million.

“We plan to seek approval of the Montana Public Service Commission to add our interest in the Battle Creek Field and the gathering system into our regulated rate base,” added Rowe. “It is both in our service territory, near Havre, Montana, and connected to our existing natural gas system.  In addition, acquiring this well-defined and established producing field is consistent with our low risk profile by staying away from exploration.”

During the 2009 Montana legislative session, changes in state law occurred that allow NorthWestern to acquire natural gas production and gathering resources and, subject to regulatory approval, include them in the rate base.

About NorthWestern Energy

NorthWestern Energy is one of the largest providers of electricity and natural gas in the Upper Midwest and Northwest, serving approximately 661,000 customers in Montana, South Dakota and Nebraska.  More information on NorthWestern Energy is available on the Company’s Web site at www.northwesternenergy.com.

For More Information Contact
Media:
Claudia Rapkoch
NorthWestern Corporation
1-866-622-8081
www.northwesternenergy.com
claudia.rapkoch@northwestern.com
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Investor Relations:
Dan Rausch
NorthWestern Corporation
+1-605-978-2902
www.northwesternenergy.com
daniel.rausch@northwestern.com
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Region 4 News Release: 10-1287-ATL (552)
Sept. 23, 2010
Contact: Michael D’Aquino     Michael Wald
Email: D’Aquino.Michael@dol.gov     Wald.Michael@dol.gov
Phone: 404-562-2076     404-562-2078

Monroe, Ga., grading and pipeline company cited $62,800 by
US Department of Labor’s OSHA for exposing workers to excavation hazards

MONROE, Ga. — The U.S. Department of Labor’s Occupational Safety and Health Administration has cited Gary’s Grading and Pipeline Co. Inc. of Monroe with four safety violations for exposing workers to excavation hazards while installing a tie-in pipe between two manhole basins at a site in Gainesville, Ga. Proposed penalties total $62,800.

The company is being cited with two repeat violations and $56,000 in proposed penalties for failing to inspect a trench after conditions changed. In addition, the company is being cited for exposing workers to engulfment hazards by not having a protective system in place to prevent a trench collapse. The company was cited previously for these same violations, most recently in 2007.

The citations also include two serious violations with a proposed penalty of $6,800 for exposing workers to fall hazards, and creating a collapse hazard by failing to keep excavated and other material or equipment at least 2 feet from the edge of the excavation.

“Disregarding workers’ safety by leaving them unprotected from potential cave-in hazards is unacceptable and will not be tolerated,” said Bill Fulcher, director of OSHA’s Atlanta-East Area Office in Georgia.

OSHA standards require that all trenches and excavations 5 feet or deeper – which this one was – must be protected against collapse. Detailed information about excavation hazards and safeguards is available online at http://www.osha.gov/SLTC/trenchingexcavation/index.html.

The company has 15 business days from receipt of the citations and proposed penalties to comply, request an informal conference with OSHA’s area director or contest the findings before the independent Occupational Safety and Health Review Commission. The site was inspected by staff from OSHA’s Atlanta-East Area Office, 2183 Northlake Parkway, Building 7, Suite 110, Tucker, Ga., 30084; telephone 770-493-6644. To report workplace incidents or situations posing imminent danger to workers, call OSHA’s toll-free hotline at 800-321-6742.

Under the Occupational Safety and Health Act of 1970, employers are responsible for providing safe and healthful workplaces for their employees. OSHA’s role is to assure these conditions for America’s working men and women by setting and enforcing standards, and providing training, education and assistance. For more information, visit http://www.osha.gov.

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U.S. Department of Labor releases are accessible on the Internet at http://www.dol.gov. The information in this news release will be made available in alternate format (large print, Braille, audiotape or disc) from the COAST office upon request. Please specify which news release when placing your request at 202-693-7828 or TTY 202-693-7755. The Labor Department is committed to providing America’s employers and employees with easy access to understandable information on how to comply with its laws and regulations. For more information, please visit http://www.dol.gov/compliance.

Daybreak Acquires Additional Interest From Chevron U.S.A. Inc. for Its East Slopes Project Located in Kern County, California

Spokane, WA, September 23, 2010 - Daybreak Oil and Gas, Inc. (OTC Bulletin Board: DBRM) (“Daybreak” or the “Company”), a Washington corporation, announced today that it has acquired one-third (33%) of Chevron U.S.A. Inc.’s 50% working interest in the East Slopes Project in Kern County, California (the “East Slopes Project”); with other partners in the East Slopes Project acquiring the remaining interest.  This transaction increases Daybreak’s working interest from 25% to 41.67% in the East Slopes Project.  Daybreak increased its proved reserves by 76% in adding approximately 46,000 barrels of oil from this acquisition.  Daybreak paid $517,000 for the additional interest, or $11.25 per barrel, with financing through a $750,000 one-year secured convertible promissory note to a private lender.

James F. Westmoreland, Daybreak’s President and Chief Executive Officer, stated, “This is a significant event for our Company that clearly demonstrates our ability to move quickly to take advantage of opportunities of this nature when they arise.  This expansion of our ownership in an area where we have knowledge and expertise enhances our ability to achieve positive cash flow and profitability with its incremental increase in volume of high margin, long-life oil reserves.  This acquisition also gives us a substantial interest in the new exploration and development drilling that we have planned at the East Slopes Project.   We recently reprocessed our 3-D seismic over a portion of our East Slopes Project and have developed several more prospects that we believe may have the potential to add significant oil reserves for the Company.  This transaction, along with our plans to develop the East Slopes Project, further enhances our commitment to building long-term value for our shareholders.”  

For more information about Daybreak Oil and Gas, Inc., please visit the Company’s website at www.daybreakoilandgas.com.

Daybreak Oil and Gas, Inc. is an independent oil and gas company engaged in the exploration, development and production of oil and gas in California.  The Company is headquartered in Spokane, Washington with an operations office in Friendswood, Texas.  Daybreak has over 22,000 acres under lease and a seismic option on an additional 14,000 acres in the San Joaquin Valley of California.

“Safe Harbor” Statement under Private Securities Litigation Reform Act of 1995: Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained herein contains “forward-looking statements” which can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “should,” “up to,” approximately,” “likely,” or “anticipates” or the negative thereof or given that the future results covered by such forward-looking statements will be achieved.  These forward-looking statements are based on our current expectations, assumptions, estimates and projections for the future of our business and our industry and are not statements of historical fact.  Such forward-looking statements include, but are not limited to, statements about our expectations regarding our future operating results, our future capital expenditures, our expansion and growth of operations and our future investments in and acquisitions of oil and natural gas properties.  

We have based these forward-looking statements on assumptions and analyses made in light of our experience and our perception of historical trends, current conditions, and expected future developments.  However, you should be aware that these forward-looking statements are only our predictions and we cannot guarantee any such outcomes.  Future events and actual results may differ materially from the results set forth in or implied in the forward-looking statements.  The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements:  general economic and business conditions; exposure to market risks in our financial instruments; fluctuations in worldwide prices and demand for oil and natural gas; fluctuations in the levels of our oil and natural gas exploration and development activities; our ability to find, acquire and develop oil and gas properties, including the ability to develop the East Slopes Project prospects; risks associated with oil and natural gas exploration and development activities; competition for raw materials and customers in the oil and natural gas industry; technological changes and developments in the oil and natural gas industry; legislative and regulatory uncertainties, including proposed changes to federal tax law and climate change legislation, and potential environmental liabilities; our ability to continue as a going concern; and our ability to secure additional capital to fund operations.  Additional factors that may affect future results are contained in our filings with the Securities and Exchange Commission (“SEC”) and are available at the SEC’s web site http://www.sec.gov.  Daybreak Oil and Gas Inc. disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise.

For More Information Contact
Ed Capko
Investor Relations
Daybreak Oil and Gas, Inc.
+1-815-942-2581
www.daybreakoilandgas.com
edc@daybreakoilandgas.com
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