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Totem Gas Storage Project

The Totem Gas Storage Project, located 36 miles northeast of Downtown Denver, boasts a working gas capacity of 9 Bcf, with impressive injection and withdrawal capacities of 135 Mmcfd and 250 Mmcfd, respectively. All necessary permits and approvals have been secured from various regulatory bodies. The project features high operational flexibility, allowing injections or withdrawals any day of the year, with a rapid one-hour turnaround. Estimated facility costs are $57.3 million, with operations expected to commence in summer 2005 and full functionality for winter 2005/2006.

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Totem Gas Storage Project

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  1. Totem Gas StorageProject Wyoming Pipeline Authority March 23, 2004

  2. Highlights • Located 36 Miles NE of Downtown Denver • 9 Bcf of Working Gas • 135 Mmcfd Injection Capacity • 250 Mmcfd Withdrawal Capacity • CIG Interconnect Signed • Additional Interconnects Anticipated • Public Service Company of Colorado (Xcel) • Cheyenne Plains Pipeline • Kinder Morgan’s Advantage Pipeline • Southern Star’s Western Frontier Pipeline

  3. Highlights (cont’d) • High Operating Flexibility • One Hour Injection and Withdrawal Turnaround Capability • No Seasonal Restrictions on Injection or Withdrawal • Inject or Withdraw, or Both, on Any Day of the Year

  4. Permits and Leasing • All Approvals, Certificates and Permits in Place • Colorado Oil & Gas Commission • Colorado Public Utilities Commission – CPCN • Colorado DPHE Air Emission Permits • Adams County Conditional Use Permits • All Required Leases and ROW’s Have Been Obtained

  5. Reservoir Modeling • Extensive Modeling of the Reservoir Has Been Performed by John Wells of Wells Chappell and Company, Houston • History Matching & Volumetric Balancing • Base and Expected Cases • Various Service Profiles • High Degree of Confidence in Reservoir Integrity and Performance

  6. Design Performance Profile

  7. Engineering & Cost • Detailed Engineering Design and Cost Estimate Performed in Fall, 2001 and Updated in 2002 • Estimated Facility Cost Inclusive of Base Gas is $57.3 million • Base Gas Assumption – 4.5 bcf @ $4.00 • Any Base Gas Savings Will Be Passed Along to Customers

  8. Timetable • All of the Pre-Development Leg Work is Complete • 6-8 Months of Additional Development Activities Followed by 12 Months of Construction • Begin Injecting Base Gas in Summer, 2005 • Possible Base Gas Injection Still in 2004 • Fully Operational For Winter 2005/2006

  9. Services • Traditional Seasonal Single-Cycle • Hybrid 2.5 Cycles Per Year • HDMC 4 Cycles Per Year

  10. Tentative Rates • Traditional Single Cycle • $0.97 per Dth per Year – Totem Provides Base Gas • $0.75 per Dth per Year – Shipper Provides Base Gas • Hybrid Multi Cycle • $1.15 per Dth per Year – Totem Provides Base Gas • $0.83 per Dth per Year – Shipper Provides Base Gas • HDMC • $1.85 per Dth per Year – Totem Provides Base Gas • $1.33 per Dth per Year – Shipper Provides Base Gas

  11. Open Season • Binding Open Season Was Concluded in September, 2003 • Negotiations Continue With Successful Bidders for 100% of Capacity

  12. For Further Information • J. B. Condill • (303) 680-4725 • jbcrog@aol.com

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