Highlights:

• 3.1 Tcfe of proved natural gas and oil reserves
• 252 percent replacement of consolidated reserves
• $3.26 per Mcfe reserve replacement costs from consolidated domestic operations

HOUSTON, Feb. 20 /PRNewswire-FirstCall/ -- El Paso Corporation (NYSE: EP) reported today that its proved natural gas and oil reserves at December 31, 2007, totaled 3.1 trillion cubic feet equivalent (Tcfe), including 256 billion cubic feet equivalent (Bcfe) related to its proportionate interest in Four Star Oil & Gas Company (Four Star). Below is a reconciliation of consolidated proved reserves from December 31, 2006 to December 31, 2007, and a summary of El Paso's 48.8-percent interest in Four Star Proved reserves at December 31, 2007.

    Consolidated Proved Reserves (Bcfe)
      Proved reserves at Dec. 31, 2006    2,415
      Production                           (289)
      Net Sales                              (2)
      Additions                             341
      Acquisitions                          357
      Revisions due to Price                 43
      Revisions due to Performance          (12)
      Proved reserves at Dec. 31, 2007    2,853

    El Paso's Interest in Four Star
     Proved Reserves
    Four Star at December 31, 2007 (Bcfe)   256

"I am very pleased with the results of our 2007 drilling program, our producing property acquisitions, and the growth in our proved reserves," said Brent Smolik, president of El Paso Exploration & Production Company. "We hit all of our major goals, including an 8 percent production increase, growth of our proved reserves, and improvement in per-unit lease operating expense and cash flow."

El Paso E&P's 2007 oil and gas capital expenditures were $2,589 million, which included $1,178 million for acquisitions and $230 million of international expenditures. Approximately 72 percent of the December 31, 2007 proved reserves are proved developed, and 80 percent are natural gas, including Four Star.

El Paso has announced its intention to sell up to approximately 300 Bcfe of proved reserves as part of its portfolio high-grading initiative. These reserves are included in year-end amounts, and the company's goal is to close the divestitures by March 31, 2008. The sales process is ongoing, and the company previously announced that it has agreements to sell properties with an estimated 191 Bcfe of proved reserves.

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company owns North America's largest interstate natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit http://www.elpaso.com.

Cautionary Statement Regarding Forward-Looking Statements

This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding our plans to sell proved reserves as part of our portfolio high-grading initiative, as well as other statements regarding matters other than historical fact. The company has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including, without limitation, our ability to consummate the sales of reserves for which we have already entered into sale agreements and to identify buyers for, negotiate and enter into agreements for the sale of and consummate the sale of reserves for which we have not yet entered into sale agreements, in each case within the time period indicated. While the company makes these statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will be achieved. Reference is made to the company's (and its affiliates') Securities and Exchange Commission filings for additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a result of new information, future events, or otherwise.

SOURCE El Paso Corporation

02/20/2008

CONTACT: Media, Bill Baerg, Manager, +1-713-420-2906, fax, +1-713-420-4417, or Investor-Media, Bruce L. Connery, Vice President, +1-713-420-5855, fax, +1-713-420-4417, both of El Paso Corporation

8373 02/20/2008 14:25 EST http://www.prnewswire.com