Noble Energy & Patina O&G to Ask Shareholders to Vote on Merger

Noble Energy, Inc. (NYSE: NBL) and Patina Oil & Gas Corporation (NYSE: POG) report that each company will hold separate meetings of its shareholders on May 11, 2005 in connection with the proposed merger between the two companies. Patina shareholders will vote to approve the merger, while Noble Energy shareholders will vote to approve the issuance of common stock to Patina shareholders in the merger and to amend the company's certificate of incorporation to increase the number of authorized shares of common stock from 100 million to 250 million. Upon approval of the share issuance by the shareholders of Noble Energy and the merger by the shareholders of Patina, and satisfaction of other customary conditions, the proposed merger is expected to close within a few days following the shareholder meetings.

On April 12, 2005, the Securities and Exchange Commission declared the registration statement relating to the issuance of Noble Energy common stock in the proposed merger to be effective. Proxy statements for the respective shareholders' meetings are being mailed on April 13, 2005 to all shareholders of Noble Energy and Patina as of March 31, 2005, the record date for each company.

Patina shareholders may elect to receive either shares of Noble Energy common stock, cash or a combination thereof (subject to the allocation procedure described in the proxy statement) in exchange for their shares of Patina common stock. Election forms for purposes of making this election are being mailed together with the proxy statements. The deadline for making an election with respect to the type of merger consideration to be received is 5:00 p.m., Houston, Texas time, on May 10, 2005. Patina shareholders should carefully complete the election forms and submit them to the exchange agent before the election deadline.

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