El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
17-Jan-2006
El Paso Natural Gas Company and Navajo Nation Announce Interim Arrangement to Extend Right of WayJan 17, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- El Paso Natural Gas Company
(EPNG), a wholly owned subsidiary of El Paso Corporation (NYSE: EP), and the
Navajo Nation announced today that the parties have reached an interim
arrangement to extend EPNG's right-of-way access across the Navajo Nation
through December 31, 2006. A substantial controversy exists between the
Navajo Nation and EPNG as to what constitutes fair consideration for a long-
term extension of the right of way. This arrangement will provide more time
for the parties to negotiate an agreement.
El Paso Corporation provides natural gas and related energy products in a
safe, efficient, and dependable manner. The company owns North America's
largest natural gas pipeline system and one of North America's largest
independent natural gas producers. For more information, visit
http://www.elpaso.com .
The Navajo Nation is the largest Indian nation in the United States,
basing its government-to-government relationship with the federal government
on treaties signed in 1849 and 1868. The three-branch Navajo Nation
government governs a land base about the size of West Virginia. The Navajo
Nation uses its natural resources to provide essential governmental services
and to improve the standard of living of its citizens.
El Paso 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. 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, the uncertainties associated with potential
legal and other action the Navajo Nation may take in the future; the
uncertainties associated with the U.S. Department of Interior's actions with
respect to our renewal request; the uncertainties associated with governmental
regulation, including our ability to recover the costs associated with any
payments for rights of way on the Navajo Nation; and other factors described
in the company's (and its affiliates') Securities and Exchange Commission
filings. 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 must be made to those 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
Investor and Public Relations, Bruce L. Connery, Vice President, 1-713-420-5855, or
Media Relations, Richard Wheatley, Manager, 1-713-420-6828, both of El Paso
Corporation
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