El Paso Extends Price Determination Date for Senior Notes Offer

El Paso Exploration & Production Co. (EPEP), a wholly owned subsidiary of El Paso Corp. has extended to 2 p.m., New York City time, on June 12, 2007, the time at which the dealer managers will determine the consideration to be paid in connection with its pending cash tender offer and consent solicitation with respect to its 7 3/4 percent Senior Notes due 2013 (CUSIP No. 283703AB2). The tender offer and the consent solicitation are subject to the terms and conditions set forth in EPEP's Offer to Purchase and Consent Solicitation Statement dated May 29, 2007 (the Statement).

The total consideration to be paid for each $1,000 principal amount of the notes tendered and accepted for payment will be determined in the manner described in the Statement by reference to the fixed spread of 50 basis points over the yield based on the bid side price of the reference treasury security, 4.875 percent U.S. Treasury Notes due May 31, 2008, as calculated by the dealer managers at 2 p.m., New York City time, on June 12, 2007.

Holders who validly tender (and do not validly withdraw) notes in the tender offer and validly deliver (and do not validly revoke) their corresponding consents in the consent solicitation at or prior to 5 p.m., New York City time, on June 11, 2007, whose notes are accepted for purchase and payment will receive the total consideration referenced above plus any accrued and unpaid interest from the last interest payment date for the notes to, but not including, the initial settlement date, which EPEP expects will occur on June 15, 2007. Holders who validly tender notes in the tender offer after 5 p.m., New York City time, on June 11, 2007, and at or prior to 12:00 midnight, New York City time, on June 25, 2007, will receive the total consideration set forth above minus the consent payment of $20.00 per $1,000 principal amount, plus any accrued and unpaid interest from the last interest payment date for the notes to, but not including, the final settlement date, which EPEP expects will occur on June 26, 2007.

EPEP has retained Citi and Deutsche Bank Securities Inc. to serve as dealer managers for the tender offer and solicitation agents for the consent solicitation and has retained Global Bondholder Services Corporation to serve as the depositary and information agent for the tender offer.

Requests for documents may be directed to Global Bondholder Services Corporation by telephone at (866) 294-2200 or (212) 430-3774 or in writing at 65 Broadway -- Suite 723, New York, NY 10006. Questions regarding the tender offer may be directed to Citi at (800) 558-3745 or (212) 723-6106 or Deutsche Bank Securities Inc. at (866) 627-0391 or (212) 250-2955.

EPEP is a Delaware corporation incorporated in 1999, and a wholly owned subsidiary of El Paso Corporation. Its primary business is the exploration for and the acquisition, development and production of natural gas, oil, and natural gas liquids in the United States, Brazil, and Egypt.

El Paso Corp. provides natural gas and related energy products in a safe, efficient, and dependable manner. El Paso Corporation owns North America's largest natural gas pipeline system and one of North America's largest independent natural gas producers.

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