Exhibit
4.8


FULL RELEASE OF GUARANTEE


THIS FULL RELEASE OF GUARANTEE (this “Release”) is
dated as of July 31, 2006, by Wachovia Bank, National Association (formerly
known as First Union National Bank), a national banking association, as trustee
under the Indenture referred to below (in such capacity, the “Trustee”)
in favor of Jonah Gas Gathering Company, a Wyoming general partnership (“Jonah
Gas”).


RECITALS:


WHEREAS, TEPPCO Partners, L.P., a Delaware limited
partnership (the “Partnership”), Jonah Gas and the other subsidiary
Guarantors named therein have heretofore executed and delivered to the Trustee
an Indenture dated as of February 20, 2002 (as amended, supplemented, or
otherwise modified from time to time, the “Indenture”), providing for
the Partnership’s issuance, from time to time, of its Debt Securities in one or
more series unlimited as to principal amount, and the guarantee by each of the
Subsidiary Guarantors of the Debt Securities issued pursuant thereto; and


WHEREAS, Section 14.04 of the Indenture provides
that the Guarantee of a Subsidiary Guarantor shall be unconditionally released
and discharged, upon the release or discharge of all guarantees by such
Subsidiary Guarantor of any Debt of the Partnership, other than obligations
arising under the Indenture and any Debt Securities issued thereunder,
following delivery of a written notice of such release or discharged by the Partnership
to the Trustee, except a discharge or release by or as a result of payment
under such guarantees; and


WHEREAS, Jonah Gas has guaranteed the obligations of
the Partnership under that certain Amended and Restated Credit Agreement, dated
as of October 21, 2004, as amended (the “Credit Agreement”), but Jonah
Gas has not guaranteed any other Debt of the Partnership; and


WHEREAS, pursuant to a full Release of Guaranty
Obligations entered into on July 31, 2006 in favor of Jonah Gas, attached
hereto as Exhibit A, Jonah Gas has been released and discharged of its
guarantee obligation under the Credit Agreement; and


WHEREAS, the Partnership has requested that Jonah
Gas be released as a Subsidiary Guarantor under the Indenture, including all
indentures supplemental thereto and in accordance with Section 14.04 of the
Indenture, the Partnership has delivered or caused to be delivered to the
Trustee an Officers’ Certificate and Opinion of Counsel in respect of its
request.


NOW, THEREFORE, for good and valuable consideration,
the sufficiency and receipt of all of which are acknowledged, the Trustee
hereby fully releases and discharges Jonah Gas from all present and future
obligations which currently exist or may exist in the future under or in
connection with the Indenture, including all indentures supplemental thereto
and all Debt Securities issued thereunder. 
Notwithstanding the ongoing, this is a release of Jonah Gas only, and
nothing in this Release shall be construed to be a release of any other
subsidiary Guarantor or any obligations of the Partnership in connection with
the Indenture.











THIS RELEASE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.


IN WITNESS WHEREOF, the Trustee has caused this Release to be
duly executed and delivered by a duly authorized officer as of the date first
above written.


	
   

  	
  WACHOVIA BANK, NATIONAL ASSOCIATION,

  
	
   

  	
  As Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RONDA L. PARMAN

  	
   

  
	
   

  	
  Name:

  	
  Ronda L. Parman

  
	
   

  	
  Title:

  	
  Vice President

  
					



 



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