Entrega Gas Pipeline Inc www entregapipeline com Entrega

Entrega Gas Pipeline Inc. www. entregapipeline. com Entrega Project Update Wyoming Natural Gas Pipeline Authority – August 30, 2005

Agenda Entrega Project Update n Project and Facilities n Milestones and Schedule n Interconnects and Capacity n Access to Markets n Wrap-up

Wamsutter Compressor Station Segment 2 Wamsutter to Cheyenne Hub 191 miles of 42 -inch pipe Big Hole Compressor Station Meeker Compressor Station Segment 1 Meeker to Wamsutter 136 miles of 36 -inch pipe

Project Description n Entrega is a new open access natural gas pipeline developed to move Rocky Mountain gas production to Midwest markets n FERC regulated interstate pipeline; developed with cooperation of Bureau of Land Management and other Federal and State Agencies n Runs from Meeker Hub in Rio Blanco County, CO through Wamsutter, WY to the Cheyenne Hub near Rockport, CO n FERC certificate includes capacity of 1, 500 MMcf/d, developed in 2 phases – Phase 1 approximately 750 MMcf/d (free flow) – Phase 2 incremental 750 MMcf/d (compression)

Description of Facilities n Project includes 136 miles of 36 -inch pipeline and 191 miles of 42 -inch pipeline n Maximum Allowable Operating Pressure (MAOP) of the system is 1, 480 psig n Route chosen to minimize environmental impact; 94% is adjacent to existing pipeline and utility right-of-way n Phase 2 will include 3 compressor stations; Meeker (11, 000 HP), Big Hole (22, 000 HP), and Wamsutter (14, 000 HP) n Eight delivery/receipt meter stations at interconnects with existing pipelines, two at Meeker, two at Wamsutter, and four at Cheyenne Hub

Recent Significant Milestones n FERC Certificate Granted – August 9, 2005 n Construction contract awarded to US Pipeline Company n Operating contract awarded to Kinder Morgan Nat. Gas Operator LLC n Agreement to interconnect with Trans. Colorado

Timeline of Major Milestones Achieved Pre-Filing Docket Assigned 3/19/04 9/03 Open Season Agmt Signed with Pipeline Operator FERC Certificate Granted 6/4/04 – 6/25/04 6/2/05 8/9/05 12/03 1/04 Project Concept Developed 12/04 1/05 Applied for FERC Certificate Environmental Impact Stmt Issued FERC Certificate Accepted 9/17/04 7/1/05 8/12/05

Project Timeline (most recent update) Phase 1 Segment 1 Construction Phase 1 Segment 2 Construction Sep 05 – Dec 05 Jul 06 – Nov 06 Wamsutter to Cheyenne Meeker to Wamsutte r 1/05 12/05 1/06 12/06 1/07 FERC Notice to Proceed Phase 2 Construction of Facilities Expected 9/5/05 Compressor Expansion to 1. 5 Bcf/d Apr 07 – Jun 07 Note: All dates referenced above are approximate and differ from the FERC filing

Proposed Pipeline Interconnects Bi-directional Interconnects CIG WIC Delivery Interconnects CIG Cheyenne Plains XCEL Trailblazer Receipt Interconnects En. Cana Gathering Trans. Colorado Entrega Gas Pipeline CIG Cheyenne Plains PSCO Trailblazer WIC Trans. Colorado

Entrega Pipeline Capacity Meeker to Wamsutter (MMCFD) Wamsutter to Cheyenne (MMCFD) Approximate In-Service Date Interim Up to 800 0 Dec 2005 Phase I 750 Nov 2006 Phase 2 1, 500 Jul 2007 Phase 3 (Optional) 1, 500 2, 000 TBD Ultimate (Optional) 1, 800 2, 300 TBD Phase Included in FERC Certificate dated 8/9/05 New FERC Application and open season required

Market Pipeline Access Midwest Market Pipelines Western Market Pipelines NWPL Kern River ANR NNG NGPL PEPL SSC Trailblazer Wamsutter Opal Cheyenne Hub Salt Lake City Meeker Hub Denver Regional Pipelines Entrega Trans. Colorado CIG WIC Cheyenne Plains Greensburg

Wrap-up n Review of Project Timeline – Segment 1 (Meeker to Wamsutter) – In Service December 2005 – Segment 2 (Wamsutter to Cheyenne) – In Service November 2006 – Phase 2 (Compressor Expansion) – In Service July 2007 n We appreciate your continued support