Natural Gas Board meets in Regular Session

The Humboldt Natural Gas Board met in regular session on Thursday, January 6^th, 2005. The meeting was called to order by Chairman Jim Jarding at 7:05 p.m. Members present were Harvey Shumaker, Kira Schmeichel and Lynn Froke. Member absent was Ritchy Griepp.

The minutes of the December regular meeting were reviewed. A motion was made by Schmeichel and seconded by Froke to approve the minutes of the December 2004 meeting. The motion carried.

Financials for the month of December were reviewed. A motion was made by Shumaker and seconded by Schmeichel to approve the financials. The motion carried.

Rates paid for December usage were not available because the bill from Northwestern had not been received yet.

The rate for January usage is $6.06 plus transportation.

Locks in rates for the months of February thru April were reviewed. A motion was made by Froke and seconded by Shumaker to lock-in 100% of February thru April Natural gas at the rate of $5.80 plus transportation. The motion carried.

Locking in the next year to 18 months was discussed. Quotes will be obtained from Jeff McKinney at Northwestern Energy.

The hedging sheet received from the Watertown Utilities was reviewed.

With no further business, a motion was made by Shumaker and seconded by Schmeichel to adjourn the meeting at 7:30 p.m. The motion carried.

ATTEST: KRISTIE ELLIS

FINANCE OFFCIER