Natural Gas Board Minutes

The Humboldt Natural Gas Board met in regular session on Thursday, March 9^th, 2006. The meeting was called to order by Chairman Jim Jarding at 7: 05 p.m. Members present were Harvey Shumaker and Kira Schmeichel. Members absent were Ritchy Griepp and Lynn Froke. Ty Englis was present from Eide Bailly accounting firm.

The minutes of the February regular meeting were reviewed. A motion was made by Schmeichel and seconded by Shumaker to approve the minutes. The motion carried.

The financial for the month of February 2006 were submitted for review. A motion was made by Shumaker and seconded by Schmeichel to approve the financials. The motion carried.

Ty Englis was present from Eide Bailly to discuss the financial for the Natural Gas System. The system is holding its own at this point.

The rates paid for February usage were $9.10 per dekatherm.

Estimated rates for March are $8.40 per dekatherm including transportation.

The current rate for natural gas is $6.75. Locking in the remaining 50% of gas needed for April was discussed. A motion was made by Shumaker and seconded by Schmeichel to lock-in the remaining 50% of gas needed for April 2006 at $6.75 or less. The motion carried.

With no further business, a motion was made by Schmeichel and seconded by Shumaker to adjourn the meeting at 7:50 p.m. The motion carried.

ATTEST: KRISTIE ELLIS

FINANCE OFFICER