BP Energy N.A.

1. BP Energy N.A. Wyoming Pipeline Authority Meeting October 28th, 2003 Dan J. Bump Director – Marketing & Origination, West Region

2. Introduction • Look at BP not just as a major producer, but also as your preferred counter-party for: • physical purchases/sales • customized financial products • asset management • Focused on building a long term business • Strong, sophisticated risk management capabilities • Excellent credit rating makes BP a preferred counter-party

3. Who We Are BP is an oil, gas, petrochemicals and renewables company we have operations on 6 continents and in over 100 countries …market capitalization of ~$200 billion …annual revenues of $179 billion (2002) …the 2nd largest oil company and 7th largest company in the world …over 26,500 service stations worldwide …serving 13 million customers every day

4. Upstream • Highest profitability, lowest cost of supply • Chemicals • Leadership in 3 sectors • Advantaged technology • Biased to high growth markets • Gas & Power • Global gas monetization presence • Leading NA & UK gas sales • Global LNG player • Downstream • Advantaged refining portfolio • World Class Lubricants • Advantaged real estate in key markets • Distinctive gas reserves • Leading explorer Our Assets And Markets Today

5. Brands We Market Under In North America

6. BP’s Growth Strategy,Strategically Asset-based BP acquires Cibola Q3 ‘01 BP JV’s with Tejas PL Q3 ‘02 BP acquires IGI Q4 ‘00 BP forms Integrated Supply & Trading Group Q3 ‘01 BP acquires Vastar Q4 ’00 BP acquires ARCO Q2 ‘00 BP merges with Amoco Q3 ‘98 Source: BP Internal Data BP Corporation North America, Inc. Strictly Confidential – for BP client use only

7. North American Gas and Power (NAGP) Calgary Houston

8. Our North American Supply Position Western Production Alaska Mackenzie Delta Canada Wyoming Cove Point LNG Mid-Continent San Juan Gulf Coast Louisiana Permian Gulf of Mexico Gulf Coast South Texas Trinidad

9. North American Gas and Power (NAGP)

10. We believe in providing greater reliability, flexibility and choice Our risk management services help to offer supply/market pricing structures on your terms Our advanced supply and logistics resources draw upon continent wide networks and deep local knowledge We are committed to an increasingly stable market environment Unlocking gas supply opportunities in North America Supporting new infrastructure Providing market liquidity Our Commitment – Practical Solutions to Manage Your Business Our aspiration is to offer increasingly tailored services that anticipate and respond to your gas supply, pricing and risk management needs

11. Stability Through….. • Our scale, supply position, trading and marketing organization and a commitment to meeting the needs of our customers • Financial Stability • Market Cap $200 Billion • Fixed Assets $105 Billion • S&P AA+ Credit Rating • Integrated Supply & Trading • 3,000 people worldwide • Multiple commodities (gas, oil, ngls, finance) • Products and Services • Supply infrastructure • Nat.Gas Supply Position • Scale, Diversity and security of supply

12. Reliability, through ……. • Our advanced supply and logistics resources in the West draw upon region-wide networks and deep local knowledge Aitken Creek AECO Sumas • Extensive operational network; 2 bcf storage capacity; 2 bcf/d transportation capacity • Nominating and balancing over 4 bcf/d • 24 Hour operational coverage • Managing and optimizing a wide range assets Kingsgate Cherry Pt Jackson Prairie Stanfield Mist PG&E Gas Trans NW NW Pipeline CIG & WIC Opal Cheyenne Hub Malin Clay Basin Kern River PG&E CG San Juan Socal El Paso & TW Carson Permian

13. Key Offerings • Products and Risk Management • Physical Product Purchases and Sales • natural gas • electricity • refined products, crude • Risk Management • Fixed Price, • Caps/Collars, • Swaps/Options • Balance of Month pricing • Customized Pricing • structured pricing • exotics • cross Commodity • Assets and Optimization • Asset Management • Transportation • Marketing Services • On Site Alternative Fuels • Storage • Energy Management Services • Supply Management • Integrated Custom Solutions • On-site Utilities Management • Co-Generation Development • Environmental Services • Green Power (Green Mountain Energy) • Solar

14. Key Results • Firm purchases for flow assurance • -- Index-related or fixed • -- Imbedded structured products • -- Any range of terms • Optimizing contractual assets • -- Maximize value of transport &/or storage capacity • Managing gas price risk • -- Fixed prices or Basis swaps • -- Collars; (fixed price or basis collars) • -- Caps, Floors • -- Enhanced caps, floors (“three-way’s”) • -- Participation swaps • -- Cross-commodity products

15. Conclusion • A web of Assets and Customers managed by experienced industry professionals located across North America enables BP to deliver… • Material physical and financial liquidity • Firm, multi-term transactions • Proven pricing and execution capability • Leading edge, creative risk products • At virtually every natural gas region in North America

16. BP Energy N.A. CONTACTS: Marketing & Origination Dan J. Bump 303-830-3266 Bob Williams 303-830-3238 Kevin Hazell 281-366-2812 Trading (Houston) Jeff Hornback 281-366-4808 Emily Huffman 281-366-4833