Index Wording

Mark,

Jennifer (PCG) has supplied me with example language from the confirmations
which is representative of the the other confirmations. I agreed that you and
I would rework a couple of examples for her, and then she can apply the same
principles to the remaining descriptions.

I think the best way to proceed on this is if we work up example wording for
most of the different publication types, and/or verify any wording suggested
by Jennifer against the original confirm language.

I will bring up the originals to you, but my suggestion for a rework is:

Daily price midpoint example (For Gas Daily, Oklahoma-PEPL):

The Index shall be the Daily Midpoint price published on each calendar day
during the term of the transaction under the heading "Daily Price Survey" in
the Oklahoma - PEPL section of Gas Daily, or if a calendar day is not a
business day then the price used shall be the Daily Midpoint price published
on the next succeeding business day.

Monthly price example (For NGI, Northern California Border):

The Index shall be the "Bidweek Average" price for the Northern Cal Border
Average as listed in the table entitled "California Border & Non-Utility
End-User Citygate tables", published in the first issue in each month of
Natural Gas Intelligence Weekly Gas Price Index for the term of the
transaction.

Monthly price example (For Inside Ferc, Texas,Oklahoma PEPL)

The Index shall be the Panhandle Eastern Pipeline Co - Texas, Oklahoma
(mainline) price as listed in the section entitled "Prices of Spot Gas
Delivered to Pipelines", published in the first issue in each month of Inside
Ferc's Gas Market Report for the term of the transaction.

In each of the above examples, PCG will need to substitute the price name and
section name for each of the applicable prices in each purblication.

Dave