Double Eagle Energy (“Double Eagle”) has been made aware of an open letter published by Mr. Toby Neugebauer proposing that Mr. John Sellers, a Double Eagle principal, serve as chairman of Fermi Inc., operating as Fermi America (the “Proposal”). As noted by Mr. Neugebauer in the Proposal, Double Eagle has not discussed the Proposal with Mr. Neugebauer, nor has Double Eagle discussed the proposal with Fermi Inc. Double Eagle, on behalf of its family of companies and its principals, confirms that neither Mr. Sellers nor Double Eagle has any interest in pursuing the Proposal.

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