!  Oil & Gas Business Environment Assumptions (Price Deck)   ENVIRONMENT.HELP
!  Generated automagically (2008-01-08 02:19 PM)
!  from "E:\MASTERS\Prices\PLA Dec 31 07 Price (incl V2) .xls".
!  DO NOT EDIT THIS FILE DIRECTLY!
!  --------------------------------------------------------------------------

#H PRICE FILE : e:\MASTERS\Prices\P07Dec31.mod
!  Description: 2007-12-31
!  Author     : PLA:  Larry Lindstrom & Dennis Paddock
!  Last Change: 12

#T ENVIRONMENT: Constant
#D PRICE FORECAST: Constant
#D INFLATION FORECAST: No
#A INCOME TAX RATE FORECAST: Income Tax Rates (Jan 1, 2007)
#A ROYALTY RATE FORECAST: Royalty Factors (Jan 1, 2007)
#D CF TYPE NAME: CONSTANT DOLLAR ECONOMICS
#D ENVIRONMENT TIMEFRAME: Annual Calendar

#T ENVIRONMENT: Escalating
#D PRICE FORECAST: BASE
#D INFLATION FORECAST: BASE
#A INCOME TAX RATE FORECAST: Income Tax Rates (Jan 1, 2007)
#A ROYALTY RATE FORECAST: Royalty Factors (Jan 1, 2007)
#D CF TYPE NAME: ESCALATING DOLLAR ECONOMICS
#D ENVIRONMENT TIMEFRAME: Annual Calendar

#M PRICE FORECAST: Constant
#D PRICE FORECAST: BASE

!  BASE PRICE CODE
!  ---------------
#M PRICE FORECAST: BASE
#D OIL PRICE INPUT: Imperial
#D GAS PRICE INPUT: Imperial
#D NGL PRICE INPUT: Imperial
#D SULPHUR PRICE INPUT: Imperial

   Oil Price=0,88.75,86.73,82.70,80.67,78.65,80.22,81.82,83.46,85.13,86.83,
     88.57,90.34,92.15,93.99,95.87,97.79,99.74,101.74,103.77, RCELL(-1) * 1.020
   Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020
   Condensate Price=0,88.75,86.73,82.70,80.67,78.65,80.22,81.82,83.46,
     85.13,86.83,88.57,90.34,92.15,93.99,95.87,97.79,99.74,101.74,103.77,
      RCELL(-1) * 1.020
   Propane Price=0,53.25,52.04,49.62,48.40,47.19,48.13,49.09,50.08,51.08,
     52.10,53.14,54.20,55.29,56.39,57.52,58.67,59.85,61.04,62.26, RCELL(-1) * 1.020
   Butane Price=0,71.00,69.38,66.16,64.54,62.92,64.18,65.46,66.77,68.10,
     69.47,70.86,72.27,73.72,75.19,76.70,78.23,79.79,81.39,83.02, RCELL(-1) * 1.020
   Ethane Price=0,21.51,23.06,23.53,24.00,24.48,24.97,25.47,25.97,26.49,
     27.02,27.56,28.12,28.68,29.25,29.84,30.43,31.04,31.66,32.30, RCELL(-1) * 1.020
   Sulphur Price=0,60.00,50.00,40.00,40.80,41.62,42.45,43.30,44.16,45.05,
     45.95,46.87,47.80,48.76,49.73,50.73,51.74,52.78,53.83,54.91, RCELL(-1) * 1.020
   Heavy Oil Par Price=0,63.46,63.43,61.45,59.07,56.68,57.82,58.97,60.15,
     61.35,62.58,63.83,65.11,66.41,67.74,69.10,70.48,71.89,73.32,74.79,
      RCELL(-1) * 1.020
   Light Oil Par Price=0,86.98,84.99,81.05,79.06,77.07,78.62,80.19,81.79,
     83.43,85.10,86.80,88.53,90.30,92.11,93.95,95.83,97.75,99.70,101.70,
      RCELL(-1) * 1.020
   SW Heavy Oil Par Price=0,60.87,60.84,58.94,56.66,54.37,55.46,56.57,
     57.70,58.85,60.03,61.23,62.45,63.70,64.98,66.28,67.60,68.95,70.33,
     71.74, RCELL(-1) * 1.020
   RTC Rate=0,0.00,0.00,0.00,0.00,0.00,0.00,0.00,0.00,0.00,0.00,0.00,0.00,
     0.00,0.00,0.00,0.00,0.00,0.00,0.00,0.00, RCELL(-1) * 1.020
   Gas Reference Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,
     8.32,8.48,8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020
   Methane ISC Reference Price=0,6.28,6.73,6.87,7.01,7.15,7.29,7.43,7.58,
     7.73,7.89,8.05,8.21,8.37,8.54,8.71,8.88,9.06,9.24,9.43, RCELL(-1) * 1.020
   Ethane ISC Reference Price=0,6.83,7.32,7.47,7.62,7.77,7.92,8.08,8.25,
     8.41,8.58,8.75,8.92,9.10,9.29,9.47,9.66,9.85,10.05,10.25, RCELL(-1) * 1.020
   Propane ISC Reference Price=0,7.03,7.54,7.69,7.84,8.00,8.16,8.32,8.49,
     8.66,8.83,9.01,9.19,9.37,9.56,9.75,9.95,10.14,10.35,10.55, RCELL(-1) * 1.020
   Butane ISC Reference Price=0,7.09,7.60,7.75,7.91,8.06,8.22,8.39,8.56,
     8.73,8.90,9.08,9.26,9.45,9.64,9.83,10.03,10.23,10.43,10.64, RCELL(-1) * 1.020
   Pentane ISC Reference Price=0,7.12,7.63,7.79,7.94,8.10,8.26,8.43,8.60,
     8.77,8.94,9.12,9.31,9.49,9.68,9.88,10.07,10.27,10.48,10.69, RCELL(-1) * 1.020

   Pentane Reference Price=Condensate Price
   NGL Cost Allowance=0,2.88*6.2929
   Pentane Cost Allowance=0,2.26*6.2929

!  ADDITIONAL PRICE CODE(S)
!  ------------------------
#M PRICE FORECAST: HARDISTY
#R Oil Price=0,64.75,64.73,62.70,60.27,57.84,59.00,60.18,61.38,62.61,63.86,
     65.14,66.44,67.77,69.12,70.51,71.92,73.35,74.82,76.32, RCELL(-1) * 1.020

#M PRICE FORECAST: HEAVY
#R Oil Price=0,54.75,55.73,54.70,52.27,49.84,51.00,52.18,53.38,54.61,55.86,
     57.14,58.44,59.77,61.12,62.51,63.92,65.35,66.82,68.32, RCELL(-1) * 1.020

#M PRICE FORECAST: AECO
#R Gas Price=0,6.80,7.28,7.43,7.58,7.73,7.88,8.04,8.20,8.36,8.53,8.70,
     8.88,9.05,9.23,9.42,9.61,9.80,10.00,10.20, RCELL(-1) * 1.020

#M PRICE FORECAST: DISCOUNT
#R Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020

#M PRICE FORECAST: SPOT
#R Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020

#M PRICE FORECAST: AGGREGAT
#R Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020

#M PRICE FORECAST: ALLIANCE
#R Gas Price=0,6.37,6.84,6.98,7.12,7.26,7.41,7.55,7.71,7.86,8.02,8.18,
     8.34,8.51,8.68,8.85,9.03,9.21,9.39,9.58, RCELL(-1) * 1.020

#M PRICE FORECAST: TCPL
#R Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020

#M PRICE FORECAST: PANALTA
#R Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020

#M PRICE FORECAST: PROGAS
#R Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020

#M PRICE FORECAST: NWUL
#R Gas Price=0,6.62,7.10,7.24,7.38,7.53,7.68,7.84,7.99,8.15,8.32,8.48,
     8.65,8.82,9.00,9.18,9.36,9.55,9.74,9.94, RCELL(-1) * 1.020

#M PRICE FORECAST: SUMAS
#R Gas Price=0,6.85,7.33,7.48,7.63,7.78,7.93,8.09,8.25,8.41,8.58,8.75,
     8.93,9.10,9.28,9.47,9.66,9.85,10.05,10.25, RCELL(-1) * 1.020
#R BC STN2=0,6.60,7.08,7.23,7.38,7.53,7.68,7.84,8.00,8.16,8.33,8.50,8.68,
     8.85,9.03,9.22,9.41,9.60,9.80,10.00, RCELL(-1) * 1.020

#M PRICE FORECAST: BCSTN2
#R Gas Price=0,6.60,7.08,7.23,7.38,7.53,7.68,7.84,8.00,8.16,8.33,8.50,
     8.68,8.85,9.03,9.22,9.41,9.60,9.80,10.00, RCELL(-1) * 1.020
#R AECO=0,6.80,7.28,7.43,7.58,7.73,7.88,8.04,8.20,8.36,8.53,8.70,8.88,
     9.05,9.23,9.42,9.61,9.80,10.00,10.20, RCELL(-1) * 1.020

#M PRICE FORECAST: BCSPOT
#R Gas Price=0,5.58,6.03,6.15,6.27,6.40,6.52,6.65,6.79,6.92,7.06,7.20,
     7.34,7.49,7.63,7.79,7.94,8.10,8.26,8.42, RCELL(-1) * 1.020

#M PRICE FORECAST: BC
#R Gas Price=0,6.10,6.58,6.73,6.88,7.03,7.18,7.34,7.50,7.66,7.83,8.00,
     8.18,8.35,8.53,8.72,8.91,9.10,9.30,9.50, RCELL(-1) * 1.020
#R BC STN 2=0,6.60,7.08,7.23,7.38,7.53,7.68,7.84,8.00,8.16,8.33,8.50,8.68,
     8.85,9.03,9.22,9.41,9.60,9.80,10.00, RCELL(-1) * 1.020

#M PRICE FORECAST: CNWSTPLT
#R Gas Price=0,6.52,7.01,7.17,7.33,7.49,7.65,7.82,7.99,8.16,8.34,8.52,
     8.70,8.89,9.08,9.28,9.48,9.68,9.89,10.10, RCELL(-1) * 1.020

#M PRICE FORECAST: BCPLNTGT
#R Gas Price=0,6.52,7.01,7.17,7.33,7.49,7.65,7.82,7.99,8.16,8.34,8.52,
     8.70,8.89,9.08,9.28,9.48,9.68,9.89,10.10, RCELL(-1) * 1.020

#M PRICE FORECAST: BASE
#M JURISDICTION: Saskatchewan
#R Gas Price=0,6.72,7.20,7.34,7.48,7.63,7.78,7.94,8.09,8.25,8.42,8.58,
     8.75,8.92,9.10,9.28,9.46,9.65,9.84,10.04, RCELL(-1) * 1.020
#R Heavy Oil Par Price=0,45.33,45.31,43.89,42.19,40.49,41.30,42.12,42.97,
     43.82,44.70,45.60,46.51,47.44,48.39,49.35,50.34,51.35,52.37,53.42,
      RCELL(-1) * 1.020
#R Light Oil Par Price=0,73.66,71.98,68.64,66.96,65.28,66.58,67.91,69.27,
     70.66,72.07,73.51,74.98,76.48,78.01,79.57,81.16,82.79,84.44,86.13,
      RCELL(-1) * 1.020
#R SW Heavy Oil Par Price=0,60.87,60.84,58.94,56.66,54.37,55.46,56.57,
     57.70,58.85,60.03,61.23,62.45,63.70,64.98,66.28,67.60,68.95,70.33,
     71.74, RCELL(-1) * 1.020

#M PRICE FORECAST: SPOT
#M JURISDICTION: Saskatchewan
#R Gas Price=0,6.72,7.20,7.34,7.48,7.63,7.78,7.94,8.09,8.25,8.42,8.58,
     8.75,8.92,9.10,9.28,9.46,9.65,9.84,10.04, RCELL(-1) * 1.020
#R Heavy Oil Par Price=0,45.33,45.31,43.89,42.19,40.49,41.30,42.12,42.97,
     43.82,44.70,45.60,46.51,47.44,48.39,49.35,50.34,51.35,52.37,53.42,
      RCELL(-1) * 1.020
#R Light Oil Par Price=0,73.66,71.98,68.64,66.96,65.28,66.58,67.91,69.27,
     70.66,72.07,73.51,74.98,76.48,78.01,79.57,81.16,82.79,84.44,86.13,
      RCELL(-1) * 1.020
#R SW Heavy Oil Par Price=0,60.87,60.84,58.94,56.66,54.37,55.46,56.57,
     57.70,58.85,60.03,61.23,62.45,63.70,64.98,66.28,67.60,68.95,70.33,
     71.74, RCELL(-1) * 1.020

#M PRICE FORECAST: INNERKIP
#R Gas Price=0,7.77,8.27,8.44,8.60,8.77,8.95,9.13,9.31,9.50,9.69,9.88,
     10.08,10.28,10.48,10.69,10.91,11.12,11.35,11.57, RCELL(-1) * 1.020

#M PRICE FORECAST: GGOL - 1
#R Gas Price=0,7.87,8.37,8.54,8.70,8.87,9.05,9.23,9.41,9.60,9.79,9.98,
     10.18,10.38,10.58,10.79,11.01,11.22,11.45,11.67, RCELL(-1) * 1.020

#M PRICE FORECAST: DOVER
#R Oil Price=0,79.39,76.72,72.06,70.09,68.12,69.72,71.35,73.01,74.70,76.43,
     78.19,79.99,81.82,83.69,85.60,87.55,89.53,91.56,93.62, RCELL(-1) * 1.020

#M PRICE FORECAST: COLEMAN
#R Gas Price=0,6.94,7.43,7.57,7.73,7.88,8.04,8.20,8.37,8.54,8.71,8.88,
     9.06,9.24,9.43,9.62,9.81,10.01,10.21,10.41, RCELL(-1) * 1.020

!  Unit Conversions (Required)
!  ---------------------------
#M PRICE FORECAST: BASE
#R Light Oil Par Price = RCELL(0) * 6.2929
#R Heavy Oil Par Price = RCELL(0) * 6.2929
#R SW Heavy Oil Par Price = RCELL(0) * 6.2929
#R Pentane Reference Price = Pentanes Reference Price * 6.2929

#M PRICE FORECAST: BASE
#M JURISDICTION: Alberta
#R Gas Reference Price = Gas Reference Price / 1.054804

#M PRICE FORECAST: BASE
#M JURISDICTION: Saskatchewan
#R Gas Reference Price = Gas Price /.028174

#M PRICE FORECAST: BASE
#M JURISDICTION: B.C.
#R Gas Reference Price = NULL

!  Constant Dollar Overrides
!  -------------------------
#M PRICE FORECAST: Constant
#R Oil Price = RCELL(0) FOR (2), RCELL(-1)
#R Gas Price = RCELL(0) FOR (2), RCELL(-1)
#R Condensate Price = RCELL(0) FOR (2), RCELL(-1)
#R Propane Price = RCELL(0) FOR (2), RCELL(-1)
#R Butane Price = RCELL(0) FOR (2), RCELL(-1)
#R Ethane Price = RCELL(0) FOR (2), RCELL(-1)
#R Sulphur Price = RCELL(0) FOR (2), RCELL(-1)
#R Heavy Oil Par Price = RCELL(0) FOR (2), RCELL(-1)
#R Light Oil Par Price = RCELL(0) FOR (2), RCELL(-1)
#R Gas Reference Price = RCELL(0) FOR (2), RCELL(-1)
#R Pentane Reference Price = RCELL(0) FOR (2), RCELL(-1)
#R RTC Rate = RCELL(0) FOR (2), RCELL(-1)

!  Inflation Rate Variables
!  ------------------------
#M INFLATION FORECAST: BASE

   Oil Select Price Infl. Rate   =    0, 0.020
   Gas Select Price Infl. Rate   =    0, 0.020

   Price Inflation Rate          = 0, 0, 0.000
   Investment Inflation Rate     = 0, 0, 0.020
   Oper. Cost Inflation Rate     = 0, 0, 0.020

   Trans. Cost Inflation Rate    = 0, 0, 0.020
   Processing Fee Inflation Rate = 0, 0, 0.020
   Royalty Cost Inflation Rate   = 0, 0, 0.020