Kern River Gas Transmission Company

Second Revised Volume No. 1

Effective Date: 07/01/2003, Docket: RP03-374-000, Status: Effective

Third Revised Sheet No. 155 Third Revised Sheet No. 155 : Effective

Superseding: 1st Rev First Revised Sheet No. 155

GENERAL TERMS AND CONDITIONS

(Continued)

15. CAPACITY RELEASE PROGRAM (Continued)

15.8 Applicable Deadlines. (Continued)

For biddable releases (1 year or more):

(1) Offers should be tendered by 12:00 p.m. four Business Days

before award;

(2) open season ends no later than 1:00 p.m. on the Business Day

before timely nominations are due (open season is three

Business Days);

(3) evaluation period begins at 1:00 p.m. during which

contingency is eliminated, determination of best bid is

made, and ties are broken;

(4) evaluation period ends and award posting if no match

required at 2:00 p.m.;

(5) match or award is communicated by 2:00 p.m.;

(6) match response by 2:30 p.m.;

(7) where match required, award posting by 3:00 p.m.;

(8) contract issued within one hour of award posting (with a new

contract number, when applicable); nomination possible

beginning at the next available nomination cycle for the

effective date of the contract. (Central Clock Time)

For non-biddable releases:

(1) Timely Cycle

(i) posting of prearranged deals not subject to bid are

due by 10:30 a.m.;

(ii) contract issued within one hour of award posting (with

a new contract number, when applicable); nomination

possible beginning at the next available nomination

cycle for the effective date of the contract. (Central

Clock Time)