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Industry Briefs

Independent oil and gas operator Central Resources entered intotwo definitive sale agreements to sell specific oil and gasproperties and related facilities located in West Texas, themid-continent and Rockies areas, the four corners area and alongthe Texas, Louisiana and Mississippi Gulf Coast. Total proceedsfrom the sale are estimated at $70 million. Denver-based CentralResources CEO Paul Zecchi said the company will use the cashproceeds on “future acquisition and development opportunities”domestically as well as internationally. The sale transactions wereeffective on June 1, and are expected to be completed inmid-to-late September.

September 14, 2000

Duke Pays NiSource $400 Million for MHP

Duke Energy Gas Transmission (DEGT) announced it has enteredinto a definitive agreement to purchase Market Hub Partners (MHP)and its 23 Bcf of natural gas salt cavern storage. The unit isbeing spun off by NiSource Inc. as a result of its planned mergerwith Columbia Energy.

August 31, 2000

NBP to Acquire Gas Gathering from Enron NA

Northern Border Partners have entered into a letter ofunderstanding with Enron North America (ENA) to purchase gasgathering facilities in the Powder River and Wind River Basins inWyoming for almost $200 million.

August 24, 2000

NJ Resources Enters into Stagecoach Deal

eCorp Marketing entered into an agreement with NJR EnergyServices (NJRES), a subsidiary of the New Jersey Resources Corp.,to provide transportation management, storage marketing and gastrading services in connection with Central New York Oil & GasCo.’s (CNYOG) proposed Stagecoach Natural Gas Storage Project inTioga County, NY. CNYOG is an eCORP subsidiary.

August 22, 2000

TPC Completes Swan Creek Financing

Tengasco, Inc. and its subsidiary, Tengasco Pipeline Corp.(TPC), have entered into a definitive agreement to finance thecompletion of TPC’s 58-mile intrastate Swan Creek natural gaspipeline system in Tennessee.

August 21, 2000

Producers Enter into Three-way Deal in WVA

International Oil & Gas Inc. has announced it has entered into an agreement with Trans Energy Inc. of St. Marys, WV, and Jayhawk Resources LLC of Arlington, TX, to lease over 5,000 acres in West Virginia to test the Trenton and Black River formations.

August 21, 2000

TPC Completes Swan Creek Financing

Tengasco, Inc. and its subsidiary, Tengasco Pipeline Corp.(TPC), have entered into a definitive agreement to finance thecompletion of TPC’s 58-mile intrastate Swan Creek natural gaspipeline system in Tennessee.

August 15, 2000

Producers Enter into Three-way Deal in WVA

International Oil & Gas Inc. has announced it has enteredinto an agreement with Trans Energy Inc. of St. Marys, WV, andJayhawk Resources LLC of Arlington, TX, to lease over 5,000 acresin West Virginia to test the Trenton and Black River formations.

August 15, 2000

Industry Briefs

DukeSolutions entered into an agreement with the Bank of Americayesterday to take over its energy management functions on 4,800properties. The five-year contract will allow the nation’s largestbank to focus on its customers and core business, whileDukeSolutions lowers the company’s annual energy costs.DukeSolutions will provide energy supply information management tothe bank’s numerous properties to help reduce the approximate $110million in annual energy costs.

July 28, 2000

Contango Gets $3 Million Boost from Tribe

One of the tiniest Houston-based development stage companies,Whichonly entered the oil and gas business less than a year ago andwhich hardly had any operating funds at all in its first quarterstatement this year, got a huge boost Friday with a $2.5 millioninvestment from a Colorado Indian tribe. Along with the stockpurchase, the tribe’s fund invested another $480,000 in thecompany’s exploration program, bringing its total investment Fridayto nearly $3 million.

June 12, 2000