Press Releases

WASHINGTON, DC--(Marketwire - Feb. 9, 2012) - TransCanada Corporation (TSX: TRP) (NYSE: TRP) (TransCanada) is pleased a review undertaken by the U.S. Department of State's Office of the Inspector General (OIG) has confirmed the company acted appropriately during all parts of the Keystone XL Presidential Permit review process.

"When claims made by opponents of Keystone XL were brought forward, we welcomed an independent review by the Inspector General's office so that they could be addressed," stated Russ Girling, president and chief executive officer, TransCanada. "At TransCanada, we conduct ourselves in an open, honest, transparent and ethical fashion, and this independent investigation confirms we followed all of the procedures and practices established by the Department of State and other federal agencies."

Key findings in the Inspector General's report that relate to TransCanada are as follows (emphasis in bold added):

-- OIG found no evidence that TransCanada improperly influenced the

    Department's selection of Cardno Entrix as the Keystone XL EIS third-
    party contractor. The Department followed the Federal Energy Regulatory
    Commission's third-party contracting process, from reviewing, editing,
    and approving the draft request for proposal to independently reviewing
    proposals and selecting a contractor...In the case of Keystone XL, the
    Department selected Cardno Entrix without any improper influence from
    TransCanada and in accordance with established third-party contracting
    procedures. A prime factor in the Department's selection of Cardno
    Entrix was the Department's previous experience in using the company as
    a third-party contractor on other EISs. (Review Results, p. 10)

-- The Department's analysis of the proposals noted that..."Entrix's team

offered the most in-depth experience that is directly applicable to this

    project." The analysis further stated, "Entrix has a prior track record
    of experience with linear projects, has put together a team with
    relevant experience...and provides the support and resources that (the
    Department of) State needs to complete its NEPA responsibilities in a
    timely fashion." OIG found that these merits match the selection
    criteria listed in the Federal Energy Regulatory Commission Handbook. In
    addition to Department officials, the Bureau of Land Management and the
    Montana Department of Environmental Quality reviewed the proposals. The

group of Department and other agency officials agreed that Cardno Entrix

    was the best company to conduct the Keystone XL EIS. (Review Results, p.
    11-13)


--  Department officials did not consider TransCanada's ranking of the
    contractors as a factor in making their decision. When asked about the
    applicant's influence on the process because it selects and ranks three
    proposals for the Department to review, Department officials noted,

"(The applicants) can do that all they want, but the Department conducts

    its own review and makes its own decision," and "We don't care who
    TransCanada picks." (Review Results, p. 13)


--  OIG found that Cardno Entrix has done a minimal amount of contract work
    (about 0.3 percent of Cardno Entrix's total revenue from TransCanada
    over a 9-year period...OIG determined that these relationships do not
    present a conflict of interest because they are not directly related to
    the Keystone XL project and are either federally controlled
    relationships or minimal financial relationships that would not "impair

the contractor's objectivity in performing the contract work" or "result

in an unfair competitive advantage to the contractor." (Review Results,

p. 24-25)

-- ...the "ongoing relationship" is with the Department and not

TransCanada...In this case, while TransCanada pays Cardno Entrix for its

continuing work on Keystone I, Cardno Entrix takes direction from and

reports solely to the Department. (Review Results, p. 25)

-- OIG found no evidence that communications between Department officials,

    TransCanada, the Canadian Government, and proponents of the Keystone XL
    pipeline deviated from the Department's obligation under Federal law to
    provide an objective analysis of the project and its potential risks.
    Specifically, OIG found no record that Department officials had made
    inappropriate commitments on behalf of the Department to TransCanada or

to the Canadian Government. OIG also found no support for the contention

that the Department coached TransCanada on what to say during the

legally mandated review process. Lastly, OIG found that the Department

also kept TransCanada officials at arm's length from decision makers and

other senior officials. (Review Results, p. 29-35)

-- Department officials held 15 meetings with groups opposed to the

Keystone XL pipeline. Likewise, they held 11 meetings with supporters of

the same pipeline. (Review Results, p. 32-33)

TransCanada remains fully committed to the construction of Keystone XL. Our shippers continue to tell us that this critical North American energy infrastructure project is needed, and they are also fully committed to Keystone XL being built and becoming operational, ultimately allowing Americans to benefit from the energy security and thousands of direct jobs that Keystone XL will create.

Plans are already underway on a number of fronts to do our part to maintain the project's construction schedule. TransCanada will re-file for a Presidential Permit and expects that a new filing can be processed in an expedited fashion due to the work that has already been completed during the review process.

With more than 60 years experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 57,000 kilometres (35,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com or check us out on Twitter @TransCanada.

FORWARD LOOKING INFORMATION This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "would" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future financial and operation plans and outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward-looking information. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to TransCanada's Management's Discussion and Analysis dated February 14, 2011 under TransCanada's profile on SEDAR at www.sedar.com and other reports filed by TransCanada with Canadian securities regulators and with the U.S. Securities and Exchange Commission.

FOR FURTHER INFORMATION PLEASE CONTACT:
        TransCanada
        Media Enquiries:
        Terry Cunha/Shawn Howard
        403.920.7859 or 800.608.7859

        TransCanada
        Investor & Analyst Enquiries:
        David Moneta/Terry Hook/Lee Evans
        403.920.7911 or 800.361.6522
        www.transcanada.com

Source: TRANSCANADA

ATLANTA, Feb. 9, 2012 (GLOBE NEWSWIRE) -- Atlanta-based Precision Aviation Group (PAG), a leading provider of products and value-added services to the Worldwide Aerospace and Defense industries, announces the launch of the Rotorcraft Services Division at its subsidiary Gardner Aviation Services (GAS). This Division will provide Helicopter-specific Avionics Upgrades/Installs, Airframe Maintenance, and MRO services at GAS' 35,000 square foot facilities located at the Atlanta Regional Airport (KFFC), in Peachtree City, Georgia. David Mast, PAG President and CEO said: "We are excited about the launch of the Rotorcraft Services Division. GAS has been performing Avionics upgrades/installs, retrofits, and airframe maintenance on Helicopters for over 18 years. However, similar to our other business units, we wanted to differentiate the Rotary Wing from the Fixed Wing business. Helicopter customers' requirements are typically different from those of their Fixed Wing counterparts. When GAS was acquired in March of 2011, Management knew that it wanted to expand the number of Helicopters that GAS serviced. A void in our geographic market, as well as having a complimentary MRO services business in the Rotary Wing space - Precision Heliparts (PHP) - makes this a natural fit." Karl Gardner, President of GAS said: "To run the Division, we have hired two Helicopter Industry Veterans – Mark Tyler (formerly of Omniflight) as our Director of Maintenance, and – Richard (Andy) Rucker (formerly of Air Methods) as our QC Manager. This gives us a solid Rotorcraft Team that has already produced outstanding results in a few short months. We have made substantial investments in Helicopter specific tooling and Factory Training for our Technicians on the aircraft they will be servicing. We are excited about the way this business has already grown, and look forward to the future." About Precision Aviation Group: PAG is a leading provider of products and value-added services to the Worldwide Aerospace and Defense industry. With 150,000 square feet of sales/service facilities in the United States and Canada, PAG uses its distinct business units and customer focused business model to serve aviation customers through two business functions – Aviation Supply Chain and its trademarked Inventory Supported Maintenance, Repair and Overhaul – ISMRO®. PAG provides MRO and Supply Chain services for Fixed and Rotary-wing aircraft through Precision Heliparts - PHP (www.heliparts.com), Gardner Aviation Services - GAS (www.gardneraviation.com), Precision Accessories & Instruments - PAI (www.precisionaccessories.com), Precision Heliparts Canada – PHP-C (www.heliparts.ca), Precision Accessories & Instruments Canada – PAI-C (www.precisionaccessories.ca), and Aero Technology – ATI (www.aerotechnology.org). PAG has MRO capabilities on over 10,000 products, including Accessories, Avionics, Hydraulics, Instruments, NDT, Starter/Generators, and Wheels/Brakes – (www.precisionaviationgroup.com).

A file accompanying this release is available at http://media.globenewswire.com/cache/18991/file/12495.png

The Precision Aviation Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11615

CONTACT:  Ketan Desai, Vice President - Sales & Marketing
          PH: (404) 767-5800
          FAX: (404) 767-5900

Wernau Asset Management CEO is Among Select Group, Representing Less than 2% of Wealth Managers in Boston area

BOSTON--(BUSINESS WIRE)-- For the third year in a row, Peter C. Wernau, President and CEO of Wernau Asset Management, has been named a 2012 Five Star Wealth Manager award recipient in the Boston area, by Five Star Professional and Boston magazine.

“Our firm focuses on excellence in client service, investment management and integration with other financial providers,” said Peter Wernau. “We’re committed to building long-term relationships with our clients built on trust. I am honored to receive this award for client service again this year.”

Five Star Professional partnered with Boston magazine to conduct research to identify a select group of wealth managers who are exceptional in both their ability and their commitment to overall client satisfaction. Award candidates were identified by one of three sources: firm nomination, peer nomination or pre-qualification based on industry standing. Self-nominations were not accepted. Research included a survey to more than 13,300 registered financial services professionals and all identified financial service companies in the area that are registered with FINRA or the SEC.

Award winners satisfied 10 eligibility and evaluation criteria associated with wealth managers who provide quality services. This year, fewer than two percent of wealth managers in the Boston area were selected.

About Wernau Asset Management

Wernau Asset Management is a registered investment advisor providing investment management, financial advice and family office services to high net worth clients and institutions. Wernau Asset Management is located in the heart of Back Bay in Boston. For more information, please visit www.wernauassetmanagement.com or call 617-716-0266.

Wernau Asset ManagementPeter Wernau, 617-716-0266pwernau@wernauassetmanagement.com

Source: Wernau Asset Management

DENVER, CO -- (MARKET WIRE) -- 02/09/12 -- Venoco, Inc. (NYSE: VQ) announced that it will host a conference call to discuss year-end 2011 reserves and fourth quarter and full-year 2011 financial and operating results on Thursday, February 16, 2012 beginning at 11:00 AM Eastern Time.

The conference call will be webcast and those wanting to listen may do so by using a link on the Investor Relations page of the company's website at http://www.venocoinc.com. Those wanting to participate in the Q&A portion can call (800) 706-7748 and use conference code 51448500. International participants can call (617) 614-3473 and use the same conference code.

A replay of the conference call will be available for one week by calling (888) 286-8010 or, for international callers, (617) 801-6888, and using passcode 24271802. The replay will also be available on the Venoco website for 30 days.

About the Company

Venoco is an independent energy company primarily engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties primarily in California. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operated interests in three other platforms, operates three onshore properties in Southern California, and has extensive operations in Northern California's Sacramento Basin.

For further information, please contact
Mike Edwards
Vice President
(303) 626-8320
http://www.venocoinc.com
E-Mail Email Contact

Source: Venoco, Inc.