Noting

Transportation Notes

Noting that near-freezing weather was in the northern half of Florida and its linepack was “currently well below targeted levels,” Florida Gas Transmission issued an Overage Alert Day notice Thursday with 15% tolerance for negative daily imbalances.

January 9, 2004

Rocky Mountain Gas Continues Coalbed Methane Program

Noting that there is much that remains to be accomplished, Riverton, WY-based U.S. Energy Corp. and its Crested Corp. subsidiary said Wednesday that their joint subsidiary, Rocky Mountain Gas Inc. (RMG) has made “notable progress” towards its stated goal of becoming a significant coalbed methane (CBM) producer in the Rocky Mountain region.

October 28, 2003

FTC Warns FERC’s Proposed Anti-Gaming Rules ‘May Chill’ Power, Gas Competition

Noting that FERC’s proposed rule to bar manipulation of wholesale electric markets “may chill pro-competitive behavior,” the Federal Trade Commission (FTC) has called on the federal energy agency to focus its sights on creating “structurally competitive markets” instead.

September 8, 2003

FTC Warns FERC’s Proposed Anti-Gaming Rules ‘May Chill’ Power, Gas Competition

Noting that FERC’s proposed rule to bar manipulation of wholesale electric markets “may chill pro-competitive behavior,” the Federal Trade Commission (FTC) has called on the federal energy agency to focus its sights on creating “structurally competitive markets” instead.

September 3, 2003

Transportation Notes

Noting that it is currently operating with “extremely low linepack,” Kern River said Tuesday it is imperative that operators do not take delivery of more quantities than are scheduled. If drafting continues to be a problem, the pipeline said, further action will be taken.

August 6, 2003

Moody’s: El Paso’s Liquidity Shows ‘Positive Momentum,’ Uncertainties Remain

Acknowledging some positive momentum in the company’s credit while noting that “significant uncertainties” remain in the next year to 18 months, Moody’s Investors Service on Monday assigned a first-time “Speculative Grade Liquidity” rating of SGL-3 to El Paso Corp.

July 8, 2003

EPSA Tells Abraham Gas Market is Responding Without Government Intervention

Noting that the natural gas market within the United States appears to be correcting itself, the Electric Power Supply Association (EPSA) said late last month that it believes proscriptive federal policies on the fuel are not necessary.

July 7, 2003

BP Projects 2Q Operation Levels

While noting that the figures may differ quite considerably from the final numbers that will be reported on July 29, BP on Wednesday released a trading update that provided an overview of the revenue and trading conditions it experienced during the second quarter ending June 30, 2003.

July 3, 2003

EPSA Tells Abraham Gas Market is Responding Without Government Intervention

Noting that the natural gas market within the United States appears to be correcting itself, the Electric Power Supply Association (EPSA) said late last month that it believes proscriptive federal policies on the fuel are not necessary.

July 2, 2003

Transportation Notes

Noting forecasts of continued warm weather in Florida and that its capacity is being heavily utilized, Florida Gas Transmission issued an Overage Alert Day notice Tuesday for its market area. The tolerance for negative daily imbalances was 10%.

May 7, 2003