Doug Foshee Quotations

We think as we continue to execute on our 2006 plan that it will reflect itself in our share price.

Today's announcement represents another step forward for our Brazilian power business. The sale will allow us to recover our initial investment in the Araucaria plant, sharpening our focus on the significant potential of our exploration and production program in Brazil.

This transaction eliminates the most significant single long-dated position remaining in our trading business and our only tolling agreement.

With El Paso's turnaround complete, we enter 2006 with a great deal of momentum.