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Totem Gas Storage Project

Totem Gas Storage Project. Wyoming Pipeline Authority March 23, 2004. Highlights. Located 36 Miles NE of Downtown Denver 9 Bcf of Working Gas 135 Mmcfd Injection Capacity 250 Mmcfd Withdrawal Capacity CIG Interconnect Signed Additional Interconnects Anticipated

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Totem Gas Storage Project

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  1. Totem Gas StorageProject Wyoming Pipeline Authority March 23, 2004

  2. Highlights • Located 36 Miles NE of Downtown Denver • 9 Bcf of Working Gas • 135 Mmcfd Injection Capacity • 250 Mmcfd Withdrawal Capacity • CIG Interconnect Signed • Additional Interconnects Anticipated • Public Service Company of Colorado (Xcel) • Cheyenne Plains Pipeline • Kinder Morgan’s Advantage Pipeline • Southern Star’s Western Frontier Pipeline

  3. Highlights (cont’d) • High Operating Flexibility • One Hour Injection and Withdrawal Turnaround Capability • No Seasonal Restrictions on Injection or Withdrawal • Inject or Withdraw, or Both, on Any Day of the Year

  4. Permits and Leasing • All Approvals, Certificates and Permits in Place • Colorado Oil & Gas Commission • Colorado Public Utilities Commission – CPCN • Colorado DPHE Air Emission Permits • Adams County Conditional Use Permits • All Required Leases and ROW’s Have Been Obtained

  5. Reservoir Modeling • Extensive Modeling of the Reservoir Has Been Performed by John Wells of Wells Chappell and Company, Houston • History Matching & Volumetric Balancing • Base and Expected Cases • Various Service Profiles • High Degree of Confidence in Reservoir Integrity and Performance

  6. Design Performance Profile

  7. Engineering & Cost • Detailed Engineering Design and Cost Estimate Performed in Fall, 2001 and Updated in 2002 • Estimated Facility Cost Inclusive of Base Gas is $57.3 million • Base Gas Assumption – 4.5 bcf @ $4.00 • Any Base Gas Savings Will Be Passed Along to Customers

  8. Timetable • All of the Pre-Development Leg Work is Complete • 6-8 Months of Additional Development Activities Followed by 12 Months of Construction • Begin Injecting Base Gas in Summer, 2005 • Possible Base Gas Injection Still in 2004 • Fully Operational For Winter 2005/2006

  9. Services • Traditional Seasonal Single-Cycle • Hybrid 2.5 Cycles Per Year • HDMC 4 Cycles Per Year

  10. Tentative Rates • Traditional Single Cycle • $0.97 per Dth per Year – Totem Provides Base Gas • $0.75 per Dth per Year – Shipper Provides Base Gas • Hybrid Multi Cycle • $1.15 per Dth per Year – Totem Provides Base Gas • $0.83 per Dth per Year – Shipper Provides Base Gas • HDMC • $1.85 per Dth per Year – Totem Provides Base Gas • $1.33 per Dth per Year – Shipper Provides Base Gas

  11. Open Season • Binding Open Season Was Concluded in September, 2003 • Negotiations Continue With Successful Bidders for 100% of Capacity

  12. For Further Information • J. B. Condill • (303) 680-4725 • jbcrog@aol.com

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