Venice Gathering System, L. L. C.

Original Volume No. 1

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Effective Date: 07/01/2003, Docket: RP03-475-001, Status: Effective

Substitute Fourth Revised Sheet No. 122 Substitute Fourth Revised Sheet No. 122 : Effective

Superseding: Fourth Revised Sheet No. 122

GENERAL TERMS AND CONDITIONS

(Continued)

a. Offers to Release Capacity for less than

One Year:

1. For biddable releases (less than one year):

- Offers should be tendered by 12:00 P.M. on a

Business Day;

- open season ends no later than 1:00 P.M. on a

Business Day (evaluation period begins at 1:00

P.M. during which contingency is eliminated,

determination of best bid is made, and ties are

broken);

- evaluation period ends and award posted if no

match required at 2:00 P.M.;

- match or award is communicated by 2:00 P.M.;

- match response by 2:30 P.M.;

- where match required, award posting by 3:00 P.M.;

- a Confirmation Letter (for a Temporary Release) or

an FTS-1 Service Agreement (with a new contract

number, when applicable, for a Permanent Release

with a remaining term less than one year) will be

tendered to the Replacement Shipper within one

hour of posting;

- Shipper will be eligible to nominate beginning at

the next available nomination cycle for the

effective date of the contract under Section 6 of

these General Terms and Conditions; Shipper will

be required to return an executed Confirmation

Letter or FTS-1 Service Agreement prior to gas

flow.