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WILLIAMS POWER COMPANY, INC.
    
    and
    
    Williams Natural Gas Liquids, IncP.O. Box 2400
    
    
    
    One Williams CenterTulsa, Oklahoma 74102-2400
    
    
    
    Tulsa, OK 74172Duns Number:
    
    82-467-8478
    
    
    
    Duns Number:Contract Number:
    
    
    
    
    
    
    
    
    
    Contract Number:U.S. Federal Tax ID Number:
    
    73-1423657
    
    
    
    U.S. Federal Tax ID Number: 73-1198094Notices:P.O. Box 2400, Tulsa, Oklahoma 74102-2400
    
    
    
    One Williams Center, Tulsa OK, 74172 WRC2Attn:
    
    Contract Administration
    
    
    
    Attn:
    
    Conway CommercialJoe EdgellerPhone:
    
    (918) 573-5348
    
    Fax:
    
    (918) 732-0269
    
    
    
    Phone:
    
    573-9917
    
    Fax:Confirmations:P.O. Box 2400, Tulsa, Oklahoma 74102-2400
    
    
    
    One Williams Center, Tulsa OK, 74172 WRC2Attn:
    
    Shannon Aston
    
    
    
    Attn:
    
    Commodity
OptimizationWes HolmesPhone:
    
    (918) 573-6626
    
    Fax:
    
    (918) 732-0247
    
    
    
    Phone:
    
    573-9064
    
    Fax:
    
    573-4074Invoices and
Payments:P.O. Box 2400, Tulsa, Oklahoma 74102-2400
    
    
    
    One Williams Center, Tulsa OK, 74172 WRC3Attn:
    
    Williams Power Operations Accounting
    
    
    
    Attn:
    
    Midstream AcctgJoEllen MillisPhone:
    
    (918) 573-6337
    
    Fax:
    
    (918) 573-1965
    
    
    
    Phone:
    
    573-9188
    
    Fax:
    
    573-6220Wire Transfer or
ACH Numbers (if applicable):BANK:
    
    JPMorgan Chase, New York
    
    
    
    BANK:
    
    JP Morgan Chase, New YorkABA:
    
    071000013
    
    
    
    ABA:
    
    071000013ACCT:
    
    
    
    
    
    
    
    
    
    ACCT:Other Details:
    
    
    
    
    
    
    
    
    
    Other Details:
 Select
only one box from each section:
 Section 1.2
    
    ü
    
    Oral (default)
    
    Section 7.2
    
    ü
    
    25thDay of Month following Month ofTransaction
    
    o
    
    Written
    
    Payment Date
    
    
    
    delivery (default)Procedure
    
    
    
    
    
    
    
    o
    

Day of Month following Month ofdeliverySection 2.5
    
    ü
    
    2 Business Days after receipt (default)
    
    Section 7.2
    
    ü
    
    Wire transfer (default)Confirm Deadline
    
    o
    
    Business Days after receipt
    
    Method of
    
    o
    
    Automated Clearinghouse Credit (ACH)Payment
    
    o
    
    CheckSection 2.6
    
    o
    
    Seller (default)
    
    Section 7.7
    
    ü
    
    Netting applies (default)Confirming
    
    o
    
    Buyer
    
    Netting
    
    o
    
    Netting does not applyParty
    
    ü
    
    WPC to confirmSection 3.2
    
    ü
    
    Cover Standard (default)
    
    Section 10.3.1
    
    ü
    
    Early Termination Damages Apply (default)Performance
Obligation
    
    o
    
    Spot Price Standard
    
    Early Termination
Damages
    
    o
    
    Early Termination Damages Do Not ApplySection 10.3.2
    
    ü
    
    Other Agreement Setoffs Apply (default)Note: The following Spot Price Publication applies to both of
the immediately preceding.
    
    Other Agreement
Setoffs
    
    o
    
    Other Agreement Setoffs Do Not ApplySection 2.26
    
    ü
    
    Gas Daily Midpoint (default)
    
    Section 14.5Spot Price
Publication
    
    o
    
    
    
    Choice Of Law
    
    
    
    OklahomaSection 6
    
    ü
    
    Buyer Pays At and After Delivery Point
    
    Section 14.10
    
    ü
    
    Confidentiality applies (default)Taxes
    
    
    
    (default)
    
    Confidentiality
    
    o
    
    Confidentiality does not applyo
    
    Seller Pays Before and At Delivery Pointü
Special
Provisions Number of sheets attached: 1 pageo
Addendum(s):
  WILLIAMS POWER COMPANY, INC.
    
    Williams Natural Gas Liquids, Inc.Party Name
    
    Party NameBy
    
    /s/ Andrew Sunderman
    
    By
    
    /s/ Alan ArmstrongName:
    
    Andrew Sunderman
    
    Name:
    
    Alan ArmstrongTitle:
    
    Vice President
    
    Title:
    
    Sr. Vice President
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    
    
    April 19, 2002




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##### 



SECTION 1.
    
    PURPOSE AND PROCEDURES
   The parties have selected either the Oral Transaction Procedure or the
Written Transaction Procedure as indicated on the Base Contract.
 
 Oral Transaction Procedure:
 
 Written Transaction Procedure:
   SECTION 2.
    
    DEFINITIONS
     
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
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    April 19, 2002




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##### 



Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
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##### 



SECTION 3.
    
    PERFORMANCE OBLIGATION
   The parties have selected either the Cover Standard or the Spot Price Standard as indicated on the Base Contract.
 Cover Standard:
  
 Spot Price Standard:
   SECTION 4.
    
    TRANSPORTATION, NOMINATIONS, AND IMBALANCES
   
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    Page 4 of 10
    
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##### 



SECTION 5.
    
    QUALITY AND MEASUREMENT
  SECTION 6.
    
    TAXES
  The
parties have selected either Buyer Pays At and After Delivery
Point
or Seller Pays Before and At Delivery Point as indicated on the Base
Contract.
 Buyer Pays At and After Delivery Point:
 
 Seller Pays Before and At Delivery Point:
 SECTION 7.
    
    BILLING, PAYMENT, AND AUDIT
        
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    Page 5 of 10
    
    April 19, 2002




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SECTION 8.
    
    TITLE, WARRANTY, AND INDEMNITY
     SECTION 9.
    
    NOTICES
    SECTION 10.
    
    FINANCIAL RESPONSIBILITY
    
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    Page 6 of 10
    
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##### 



The parties have selected either Early Termination Damages Apply or Early
Termination Damages Do Not Apply as indicated on the Base Contract.
 Early Termination Damages Apply:
  
 Early Termination Damages Do Not Apply:
 
 The parties have selected either Other Agreement Setoffs Apply or Other
Agreement Setoffs Do Not Apply as indicated on the Base Contract.
 Other Agreement Setoffs Apply:
 
 Other Agreement Setoffs Do Not Apply:
   
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    Page 7 of 10
    
    April 19, 2002




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force majeure
       term
  limitations
  
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    Page 8 of 10
    
    April 19, 2002




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miscellaneous
              DISCLAIMER: NAESB DISCLAIMS AND EXCLUDES, AND ANY USER OF
THIS CONTRACT ACKNOWLEDGES AND AGREES TO NAESBS DISCLAIMER OF, ANY AND ALL WARRANTIES, CONDITIONS
OR REPRESENTATIONS, EXPRESS OR IMPLIED, ORAL OR WRITTEN, WITH RESPECT TO THIS CONTRACT OR ANY PART
THEREOF, INCLUDING ANY AND ALL IMPLIED WARRANTIES OR CONDITIONS OF TITLE, NON-INFRINGEMENT,
MERCHANTABILITY, OR FITNESS OR SUITABILITY FOR ANY PARTICULAR PURPOSE (WHETHER OR NOT NAESB KNOWS,
HAS REASON TO KNOW, HAS BEEN ADVISED, OR IS OTHERWISE IN FACT AWARE OF ANY SUCH PURPOSE), WHETHER
ALLEGED TO ARISE BY LAW, BY REASON OF CUSTOM OR USAGE IN THE TRADE, OR BY COURSE OF DEALING. EACH
USER OF THIS CONTRACT ALSO AGREES THAT UNDER NO CIRCUMSTANCES WILL NAESB BE LIABLE FOR ANY DIRECT,
SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES ARISING OUT OF ANY USE OF THIS
CONTRACT.
 
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    Page 9 of 10
    
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TRANSACTION CONFIRMATION
    
    EXHIBIT AFOR IMMEDIATE DELIVERY
 Letterhead/Logo
    
    
    
    Date:
    
    
    
    ,Transaction Confirmation #:
 
 SELLER:
    
    
    
    
    
    BUYER:Attn:
    
    
    
    
    
    Attn:Phone:
    
    
    
    
    
    Phone:Fax:
    
    
    
    
    
    Fax:Base Contract No.
    
    
    
    Base Contract No.Transporter:
    
    
    
    Transporter:Transporter Contract Number:
    
    
    
    Transporter Contract Number:
 Contract Price:
    
    
    
    /MMBtu or
 Delivery Period: Begin:
    
    ,
    
    
    
    End:
 Performance Obligation and Contract Quantity:(Select One)Firm (Fixed Quantity):
    
    Firm (Variable Quantity):
    
    Interruptible:MMBtus/day
    
    MMBtus/day Minimum
    
    Up to  MMBtus/dayo EFP
    
    MMBtus/day Maximumsubject to Section 4.2. at election ofo Buyer or o Seller
 Delivery Point(s):(If a pooling point is used, list a specific geographic and pipeline location):
 Special Conditions:
  Seller:
    
    
    
    Buyer:By:
    
    
    
    By:Title:
    
    
    
    Title:Date:
    
    
    
    Date:
 Copyright © 2002 North American Energy Standards Board, Inc.
    
    
    
    NAESB Standard 6.3.1All Rights Reserved
    
    
    
    April 19, 2002
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##### 



WILLIAMS POWER COMPANY, INC.
 One Williams CenterP.O. Box 2848Physical Confirmation
    
    Tulsa, OK 74101(918) 573-2000To:
    
    WILLIAMS NATURAL GAS LIQUIDS, INCAtt:
    
    Confirmation AdministratorDate:
    
    August 19, 2005Fax:
    
    (918) 573-4686Ref:
    
    S83217-1
  Transaction Date:
    
    August 19, 2005Buyer:
    
    WILLIAMS NATURAL GAS LIQUIDS, INCSeller:
    
    WILLIAMS POWER COMPANY, INC.Product:
    
    Natural GasContract Quantity:
    
    2,263,226 MMBtuMeasuring Pipeline:
    
    Southern Star PipelineMeter No.:
    
    000166Delivery Point(s) (F.O.B.):
    
    Conway FractionatorPerformance Obligation:
    
    FirmContract Period
    

Quantity                            Price8/23/2005-12/31/2007
    
    80,000 MMBtu/Mth        See Special Provisions BelowSpecial Provisions:
    
    Requires physical delivery of 80,000 mmbtu per month during term. Difference between forward
market price and $2.80 to be paid by Williams Natural Gas Liquids, Inc to Williams Power Company,
Inc. no later than August 22, 2005. Monthly price will be FOM Panhandle Gas Price, plus credit
cost and transport cost to Conway, not to exceed $2.80 per mmbtu delivered.
  WILLIAMS POWER COMPANY, INC.
(acting for itself or acting on behalf of its subsidiaries)
    
    WILLIAMS NATURAL GAS LIQUIDS, INCBy:
    
    /s/ Andrew Sunderman
    
    By:
    
    /s/ Alan S. Armstrong
 Prepared By: Shannon Aston, Risk Control
    
    Phone: (918) 573-6626
    
    Fax: (918) 732-0247
    
    Email: shannon.aston@williams.com
    
    Ref: 83217-1
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