High Island Offshore System, L.L.C.

Third Revised Volume No. 1

Effective Date: 11/01/2010, Docket: RP10-1229-000, Status: Effective

Fifth Revised Sheet No. 129 Fifth Revised Sheet No. 129

Superseding: Fourth Revised Sheet No. 129

GENERAL TERMS AND CONDITIONS

(Continued)

(ii) For biddable releases (more than 1 year):

(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)