Cheyenne Plains Gas Pipeline Company, L.L.C.

Original Volume No. 1

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Effective Date: 01/22/2005, Docket: RP05-136-000, Status: Effective

First Revised Sheet No. 327 First Revised Sheet No. 327 : Effective

Superseding: Original Sheet No. 327

GENERAL TERMS AND CONDITIONS

(Continued)

28. CAPACITY RELEASE PROGRAM (Contd.)

28.11 Awarding of Released Capacity (Contd.)

(d) Bid Evaluation Methods. All bids received will be evaluated

pursuant to one of the following methods:

(i) Present Value Calculation. Releasing Shipper may elect

to have all bids evaluated and ranked pursuant to a

Present Value Calculation, as follows:

1 - (1 + i)^-n

R x ----------- x V = present value

i

where: i = interest rate per Month using the current

FERC interest rate defined in

Section 154.501(d)(1) of FERC's Regulations.

n = term of the release, in Months

R = the Reservation Charge(s) and Reservation

Surcharge(s) bid

V = volume stated in dth

(ii) Highest Rate. Releasing Shipper may elect to have bids

evaluated on the basis of the highest reservation rate

bid;

(iii) Net Revenue. Releasing Shipper may elect to have bids

evaluated on the basis of the total reservation rate-

based revenues received over the term of the release;