Spreadsheet: lindy_donoho__22080__2002assumptions
Sheet: Rev Assump 2002 w Stretch

TW COMMERCIAL 2002 MARGIN PLAN |  |  |  |  |  | 2001-10-11 00:00:00
Gas Index Prices
 |  | 2002 |  | 2001 |  | 2001
 |  | Plan** |  | 3CE |  | Plan
January |  | 2.62 |  | 8.21 |  | 3.9
February |  | 2.62 |  | 5.62 |  | 3.75
March |  | 2.561 |  | 4.98 |  | 3.6
April |  | 2.45 |  | 4.87 |  | 3.49
May |  | 2.48 |  | 3.82 |  | 3.43
June |  | 2.53 |  | 3.19 |  | 3.42
July |  | 2.57 |  | 2.77 |  | 3.39
August |  | 2.61 |  | 2.77 |  | 3.41
September |  | 2.61 |  | 1.95 |  | 3.39
October |  | 2.62 |  | 2.28 |  | 3.39
November |  | 2.84 |  | 2.53 |  | 3.39
December |  | 3 |  | 2.85 |  | 3.44
Average
[NAME]
5000 | Day | 5.05
5000 | Day | 3.46
5000 | Day | 3.3625
UAF @  (.06%) - Same as 2001 Plan
Estimated West Flow (MmBTU/Day) |  |  |  |  |  |  |  | 2002
 |  |  |  |  |  |  |  | Without
 |  | 2002 |  | 2001 |  | 2001 |  | Red Rock |  | Red Rock Outage Impact:
 |  | Plan |  | CE |  | Plan |  | Outage |  | March
January |  | 1020 |  | 1109 |  | 1014 |  | 1020 |  | 6 Days @ | 100,000/d
February |  | 1022 |  | 1119 |  | 1018 |  | 1022 |  | 6 Days @ | 80,000/d
March |  | 998 |  | 1110 |  | 967 |  | 1009
April |  | 910 |  | 1104 |  | 949 |  | 1003 |  | April & May
May |  | 910 |  | 1075 |  | 959 |  | 1006 |  | 61 Days @ | 180,000/d
June |  | 1072 |  | 1073 |  | 891 |  | 1089
July |  | 1101 |  | 1090 |  | 885 |  | 1101 |  | June
August |  | 1117 |  | 1082 |  | 925 |  | 1117 |  | 4 Days @ | 180,000/d
September |  | 1112 |  | 1020 |  | 935 |  | 1112
October |  | 1119 |  | 1000 |  | 1055 |  | 1119
November |  | 1075 |  | 1002 |  | 1014 |  | 1075 |  | January (Possible Outage)
December |  | 1072 |  | 1000 |  | 965 |  | 1072
 |  |  |  |  |  |  |  |  |  | 5 Days @ | 130,000/d
Avg. Throughput |  |  |  |  |  |  |  |  |  |  | 21,000/d avg
 |  |  |  |  |  |  |  |  |  | Did not adjust Plan, volume
Avg. Load Factor |  | 0.904 |  | 0.97 |  | 0.89 |  | 0.92 |  | already down to 1020
Assumed IT(Average MmBTU/Day & Rate)
 |  |  | 2002 |  |  |  |  | Stretch |  |  | 2001
 |  |  | Plan | Non-Contracted |  |  | Stretch | Rate | Rate | Rate | Plan
 |  |  | Vol. | Rate |  |  | Rate | Nov-Mar |  | Nov-Mar | Vol. | Rate
E of Thoreau to E of Thoreau |  |  | 21700 | 0 |  |  | 0.03 |  | 0.03 |  | 21700 | 0.03
San Juan to East |  |  | 7000 | 0 |  |  | 0.02 |  | 0.02 |  | 7000 | 0.056
[NAME] to El Paso Blanco |  |  | 87500 | 0.01 | Apr - Oct;    .005 Nov - Mar |  | 0.04 | 0.01 | 0.05 | 0.015 | 87500 | 0.015
[NAME] to Blanco Hub |  |  | 17700 | 0.01 | Apr - Oct;    .005 Nov - Mar |  | 0.04 | 0.01 | 0.05 | 0.015 | 17700 | 0.015
IT 2001 Plan: |  |  |  | $1.4 mil
IT 2001 Current Estimate:
 |  | West IT | $5.4 mil
 |  | [NAME] | $1.7 mil
 |  | East | $1    mil
 |  |  |  | $8.1 mil
IT 2002 Plan (Including Capital Revenues): |  |  |  | $2.4 mil
No estimated volumes/revenues for the following
1) | USGT flow West
2) | West IT from PG&E to Needles, Mojave, etc.
3) | PNR
4) | No LFT/Daily Firms
 |  |  |  |  |  |  |  | Un-
Contract |  | Shipper |  | Start | End | Volume | Current | Contracted | Stretch | Exposure
# |  |  |  | Date | Date | Per Day | Rate | Rate | Rate
Index to Index [NAME] at Hedge Price
San Juan to West of Thoreau
27456 |  | Dynegy |  | 11/01/02 | 2002-12-31 00:00:00 | 21500 | 1.03 |  |  | 837894 | Amt. Above [NAME]
27454 |  | Reliant |  | 1/01/02 | 2002-12-31 00:00:00 | 27500 | 1.27 |  |  | 8841168 | Amt. Above [NAME]
Other Index to Index Contracts (Not in 2002)
27453 |  | Dynegy |  | 2003-01-01 00:00:00 | 2003-12-31 00:00:00 | 35000 | 1.18
27458 |  | Calpine |  | 2003-01-01 00:00:00 | 2003-12-31 00:00:00 | 14000 | 1.28
27504 |  | Sempra |  | 2004-01-01 00:00:00 | 2005-12-31 00:00:00 | 35000
West of Thoreau Resubscription Assumptions
East of Thoreau to West of Thoreau |  |  |  |  |  |  |  |  |  |  |  |  | Mavrix | -1040511
 |  |  |  |  |  |  |  |  |  |  |  |  | Mavrix | 299600
25841 |  | PG&E Trading |  | 2/1/00 | 10/31/02 | 40000 | 0.1075 | 0.08 | 0.02 | 244000
26511 |  | PG&E Trading |  | 11/1/99 | 10/31/02 | 21000 | 0.1075 | 0.12 | 0.08 | 256200
27340 |  | OneOk |  | 2/1/01 | 1/31/02 | 10000 | 0.3483 | 0.12 | 0.04 | 1159982
27340 |  | OneOk |  | 2/1/01 | 1/31/02 | 10000 | 0.3483 | 0.08 | 0.02 | 334000
Total |  |  |  |  |  |  |  |  |  |  |  |  | 2225382
 |  | Mavrix |  | 2002-04-01 00:00:00 | 2002-10-31 00:00:00 | 14000 |  | 0.08 | 0
 |  | Red Rock Expansion |  | 2002-06-01 00:00:00 | 2002-12-31 00:00:00 | 13300 |  | 0.08 | 0.02 | 284620 |  |  | 398468
Thoreau to West of Thoreau
27583 |  | North Star Steel |  | 5/1/01 | 5/31/02 | 1300 | 0.2533 | 0.04 | 0 | 13910 |  |  | 38948
Blanco to Thoreau
 |  | Mavrix |  | 2002-01-01 00:00:00 | 2002-10-31 00:00:00 | 32500 |  | 0.05 | 0
 |  | Mavrix |  | 2002-11-01 00:00:00 | 2002-12-31 00:00:00 | 11000 |  | 0.05 | 0
East of Thoreau to East of Thoreau
24198 |  | [NAME] (ROFR) |  | 6/1/95 | 5/31/02* | 35714 | 0.105 | 0.05 | 0
25374 |  | KN Processing |  | 6/1/98 | Mo./Mo. | 23000 | 0.05 | 0.05 |  | 419750
27291 |  | Duke |  | 8/1/00 | 7/31/02 | 20000 | 0.025 | 0.02 | 0
27377 |  | Agave |  | 3/1/01 | 2/28/02 | 10000 | 0.05 | 0.02 | 0
27579 |  | Duke |  | 5/1/01 | 5/31/02 | 20000 | 0.06 | 0.02 | 0
Total |  |  |  |  |  |  |  |  |  |  |  |  | 1272851
 |  | *Only resubscribed for 4 of remaining 7 months in the year.
[NAME] to Blanco
27342 |  | Sempra |  | 1/1/01 | 12/31/01 | 30000 | 0.06 | 0.02 | 0.082 | 1116900 |  |  | 0
[NAME] to Blanco
 |  | Unsubscribed |  | July | Sept | 29000 | $.09 to [NAME] | 0.04 | 0.04 | 213440 |  |  | 213440
OUTAGES
No outages other than the Red Rock Expansion and [NAME]. 4 overhaul are assumed.
CAPITAL
Revenues: (Included in EOT to EOT STRETCH IT) |  |  |  |  |  | Stretch
Discretionary Pool (July - Dec) |  |  |  |  |  | 700000
Did not assume other Projects for 2002 besides Red Rock Expansion.
 |  |  |  |  | (millions)
1 | TransPecos Project |  |  |  | 135.5
2 | Southern Trails Project |  |  |  | 80
3 | Big Sandy |  |  |  | 0.55
4 | [NAME] enhancements |  |  |  | 3
5 | Revenue Management-Phase III |  |  |  | 0.4
SoCal Rate Dispute
Assumed we get full SoCal rate in 2002.
MAXDTQ Reduction Exposures
25071 | BP | 638750 | (may reduce by 10,000/d)
26490 | Agave | 688500 | (may reduce by 15,000/d)
 |  | 1327250
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