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Long-Term Supply

City of Hamilton, Ohio. Municipal Gas Authority of Georgia. Long-Term Supply. Presented To: Wyoming Pipeline Authority. Presentation Outline. Who Are We? Why Are We Here? What Are We Looking For? How Do We Proceed?. Who Are We?.

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Long-Term Supply

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  1. City of Hamilton, Ohio Municipal Gas Authority of Georgia Long-Term Supply Presented To: Wyoming Pipeline Authority

  2. Presentation Outline • Who Are We? • Why Are We Here? • What Are We Looking For? • How Do We Proceed?

  3. Who Are We? Purchasers of natural gas for residential, commercial, industrial and power generation consumers. City of Hamilton, Ohio and Municipal Gas Authority of Georgia

  4. Who Are We? City of Hamilton, Ohio • Full service city providing natural gas, electricity and water to its citizens • Owns and operates largest municipal gas distribution system in the State of Ohio • Serves approximately 23,000 residential, commercial and industrial customers with peak day requirements of approximately 42,000 Dth • Located near the Lebanon Hub • Has citygate interconnections with Texas Gas Transmission and Texas Eastern • Acquisition of Midwestern Gas Transmission by Northern Border Pipeline offers access to Chicago market center

  5. Who Are We?

  6. Who Are We? Municipal Gas Authority of Georgia • Non-Profit, Tax-Exempt Joint-Action Agency • Formed in 1987 by Georgia Statute • Full faith and credit pledge of Members • Product of Industry Restructuring • Pipelines no longer wholesale supplier • Economies of scale • Mission Statement: To provide municipalities a reliable, economical supply of natural gas and to assist them in developing and growing their gas systems to optimize the benefits of public ownership.

  7. Who Are We? Municipal Gas Authority of Georgia • Number of Members/Partners 83 • Retail Customers Served by Members 198,194 • Annual Throughput 58,766,000 MMBtu • Peak Day Volumes 275,000 MMBtu • Annual Revenues $200 Million • Total Assets $918 Million • Ratings: • Moody’s A1 • Fitch IBCA A+ • Standard & Poors A

  8. Who Are We?

  9. Long-Term Reliable Gas Supplies • Hamilton, OH annual requirements of 3.5 Bcf; 23,000 customers • Gas Authority annual requirements of 60 Bcf; 200,000 customers • In the business for the long haul! Why Are We Here? • Wyoming Supplies Are A Good Fit • Long-life reserves • Growing production over the next several years

  10. Why Are We Here? Secured Prepayment to Reserve Acquisition • 1991-1997 • Over 12 transactions • Over $1.2 Billion • Secured Prepayment Structure • 10-12 Year Term • Fixed or Seasonally Adjusted Volumes • Swap to Convert Price Back to Floating • Security • AA rated or better surety bond (not available) • AA rated or better corporate guarantee (not available) • Proved, developed and producing properties • 2001-2002 • Madison Energy Advisors/Ziff Energy Reserve Acquisition Study • Coalbed Methane Reserve Acquisition (working interest ownership)

  11. Why Are We Here? Partnering • Interested in Partnering with Producers • Looking to monitize a portion of existing assets • Looking to acquire new reserves • Our Preferences in a Partner • Operates reserves • Retains significant working interest in properties, handles accounting • Interested in enhancing production • Interested in retaining all liquids • Our Strength as a Partner • Interested mainly in less risky reserves with more assured production levels (PDP) and lower decline curves • Strong credit • Lower cost of capital

  12. What Are We Looking For? • Volumes • Hamilton, Ohio • 10,000 Mcf/day • Gas Authority • 30,000 – 50,000 Mcf/day • Potential for growth through partnering with other agencies and municipal gas systems • Structures • Secured prepayment • Preferential ORRI • Working interest

  13. Contact: • A. Scott Rothey (Hamilton, OH) • Principal • A. Scott Rothey and Associates, LLC • (419) 422-6439 • www.hamilton-city.org • Arthur Corbin, President and Chief Executive Officer • Mike Frey, Vice President, Gas Supply and Operations • Municipal Gas Authority of Georgia • (770) 590-1000 • www.gasauthority.com How Do We Proceed? • Conference call/meetings to discuss in more detail and • explore common interests

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