The Energy Law

JUNE 4, 2007

The proposed rule extends deep gas royalty relief to GOM leases in 400 meters of water (up from the current limit of 200 meters), and would increase the royalty suspension volume to 35 Bcf for qualifying ultra-deep wells at least 20,000 feet total vertical depth subsea in less than 400 meters of water. MMBtu expressed in 2006 dollars.

Royalty 40

Royalty Offshore BCF Gas 40

The Energy Law

AUGUST 23, 2007

Since Wednesday, August 15, all prices reported in the weekly chart (for both natural gas and crude oil) have decreased as Hurricane Dean failed to have a significant impact on domestic production in the Gulf of Mexico, and temperatures moderated demand. Natural Gas in Storage 2,926 Bcf UP 23 Bcf 12.8%

Pipeline 40

Pipeline Natural Gas BCF Gas 40

The Energy Law

SEPTEMBER 6, 2007

Crude oil was up over $2 per barrel. Natural Gas in Storage 3,005 Bcf UP 36 Bcf 10.4% Predictions of an underuse of an LNG regasification capacity continue. . – Transco Gas Pipeline Corporation released a notice on September 4 regarding firm backhaul transportation service for winter 2007-2008.

Pipeline 40

Pipeline BCM Natural Gas Maintenance 40

The Energy Law

SEPTEMBER 13, 2007

The Energy Information Agency reported as follows in its September 13, 2007, report: Since Wednesday, September 5, natural gas spot prices increased as tropical storms threatened to disrupt supplies and pipeline explosions in Mexico stirred concerns of supply security. Natural Gas in Storage 3,069 Bcf UP 64 Bcf 9.3%

Pipeline 40

Pipeline Natural Gas BCF BBL 40