El Paso Corporation is focused on growing its pipeline and E&P businesses in a sustainable manner over the long term. The company has a large committed growth backlog for its pipeline segment of nearly $4 billion. In its E&P segment, El Paso expects 8-12% production growth from 2007-2010 through development of its multi-year drilling inventory. Overall, El Paso aims to deliver meaningful and sustainable long-term growth through its pipeline and E&P operations.

1. a meaningful company
doing meaningful work
delivering meaningful results
Doug Foshee
President and Chief Executive Officer
Howard Weil Energy Conference
April 8, 2008

2. Cautionary Statement
Regarding Forward-looking Statements
This presentation 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 presentation, including, without limitation, changes in unaudited and/or unreviewed
financial information; our ability to implement and achieve our objectives in the 2008 plan, including earnings and cash flow targets; the effects of any
changes in accounting rules and guidance; our ability to meet production volume targets in our E&P segment; uncertainties and potential consequences
associated with the outcome of governmental investigations, including, without limitation, those related to the reserve revisions; outcome of litigation; our
ability to comply with the covenants in our various financing documents; our ability to obtain necessary governmental approvals for proposed pipeline
projects and our ability to successfully construct and operate such projects; the risks associated with recontracting of transportation commitments by our
pipelines; regulatory uncertainties associated with pipeline rate cases; actions by the credit rating agencies; the successful close of our financing
transactions; our ability to successfully exit the energy trading business; our ability to close our announced asset sales on a timely basis; changes in
commodity prices and basis differentials for oil, natural gas, and power and relevant basis spreads; inability to realize anticipated synergies and cost
savings associated with restructurings and divestitures on a timely basis; general economic and weather conditions in geographic regions or markets
served by the company and its affiliates, or where operations of the company and its affiliates are located; the uncertainties associated with governmental
regulation; political and currency risks associated with international operations of the company and its affiliates; competition; 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.
Certain of the production information in this presentation include the production attributable to El Paso’s 49 percent interest in Four Star Oil & Gas
Company (“Four Star”). El Paso’s Supplemental Oil and Gas disclosures, which are included in its Annual Report on Form 10-K, reflect its proportionate
share of the proved reserves of Four Star separate from its consolidated proved reserves. In addition, the proved reserves attributable to its proportionate
share of Four Star represent estimates prepared by El Paso and not those of Four Star.
Cautionary Note to U.S. Investors—The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to
disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally
producible under existing economic and operating conditions. We use certain terms in this presentation that the SEC's guidelines strictly prohibit us from
including in filings with the SEC. U.S. Investors are urged to consider closely the disclosures regarding proved reserves in this presentation and the
disclosures contained in our Form 10-K for the year ended December 31, 2007, File No. 001-14365, available by writing; Investor Relations, El Paso
Corporation, 1001 Louisiana St., Houston, TX 77002. You can also obtain this form from the SEC by calling 1-800-SEC-0330.
Non-GAAP Financial Measures
This presentation includes certain Non-GAAP financial measures as defined in the SEC’s Regulation G. More information on these Non-GAAP financial
measures, including EBIT and the required reconciliations under Regulation G, are set forth in this presentation or in the appendix hereto. El Paso defines
Resource Potential as subsurface volumes of oil and natural gas the company believes may be present and eventually recoverable. The company utilizes
a net, geologic risk mean to represent this estimated ultimate recoverable amount.
2

3. Sustainable Long-Term Growth
Pipelines E&P
6%–8% EBIT Growth 2007–2012 8%–12% production growth 2007–2010
• 2.8 Tcfe proved reserves*
• Unprecedented infrastructure
opportunities • Multi-year drilling inventory
• Committed project inventory
nearly $4 billion
*Post 2008 divestitures—Includes proportionate share of Four Star 3

4. Outlook Favors Both Businesses
Pipelines
Favorable Macro Outlook
• Assets well positioned
• Increasing demand for natural gas
– Rockies expansions: CIG, WIC, Ruby
• Strong commodity prices
– LNG related: Elba Express, Cypress
• Infrastructure opportunities with
shifting supply source
E&P
Environmental • Improved portfolio
• Carbon emissions • Increased profitability
• Power generation turning to natural gas • Drilling success
4

5. El Paso Pipeline Group
North America’s Leading Natural Gas Pipeline Company
Tennessee
Wyoming Gas Pipeline
Colorado Interstate
Interstate Gas
Cheyenne
Mojave Plains Pipeline Southern
Pipeline Natural Gas
Elba Island
LNG
El Paso
Natural Gas
Mexico Gulf LNG Florida Gas
Ventures (50%) Transmission (50%)
• 19% of total U.S. interstate pipeline mileage
• 24 Bcf/d capacity (16% of total U.S.)
• 17 Bcf/d throughput (28% of gas delivered to U.S. consumers)
Source: El Paso Corporation based on 2007 data
5
Note: Includes El Paso Corporation and El Paso Pipeline Partners, L.P.

6. The Enduring Value of
“Last Mile” and “First Mile” Service
Integrated with Point-to-Point Integrated with
Suppliers Transportation Markets
Pipeline
LDC Citygate
Storage
Storage
Market
Supply
LNG
Wellheads
Hub
Hub
Direct Connects
(Industrial, Power Gen)
Processing
Pipelines
Commodity
High Value High Value
Service
6

7. Excellent Connectivity in Markets
ID VT
SD
NH
WY NE
Boston
MA
NY
RI
CT
Denver
UT
CO
NJ New York
PA
• 66 supply meters in the Rockies
• 110 delivery meters along the Front Range • 97 delivery meters into 26 LDCs
UT
NV SC
Atlanta
Birmingham
CA AZ NM
Phoenix GA
AL
FL
• 348 delivery meters in Arizona • 155 delivery meters into Alagasco and AGL

8. Committed Growth Backlog
Approaching $4 Billion
WIC Medicine Bow TGP Concord
Expansion $21 MM
$32 MM Nov 2009
July 2008
CIG High Plains Pipeline 30 MMcf/d
330 MMcf/d
$196 MM (100%)
November 2008
WIC Piceance
900 MMcf/d
Lateral
CP Coral Expansion Elba Expansion III &
$62 MM SNG SESH –Phase I
$23 MM Elba Express
4Q 2009 $137 MM
CIG Totem Storage July 2008 $1.1 Billion
219 MMcf/d Jun 2008
$120 MM (100%) 70 MMcf/d 2010–2013
140 MMcf/d
July 2009
1.2 Bcf/d
200 MMcf/d
SNG Cypress Phase II & III
$20 MM/$82 MM
May 2008/ Jan 2011
TGP Carthage 114 MMcf/d/ 161 MMcf/d
Expansion
$39 MM
May 2009
100 MMcf/d
SNG South System III/
SESH Phase II
Gulf LNG $286 MM/ $33 MM
$1.1 Billion (100%) 2010–2012
Oct 2011 375 MMcf/d/ 360MMcfd
El Paso Pipeline Partners 1.3 Bcf/d
El Paso FGT Phase VIII
Expansion
$2+ Billion (100%)
2011
0.8 Bcf/d
8
Note: El Paso Pipeline Partners owns 10% of SNG and CIG

9. Market Demand Driving Pipeline Growth
Florida Gas Transmission VIII Project
Natural Gas Demand Proposed Pipeline Expansion
Growth (Bcf) FGT
Florida
4.0
3.0
$2+ billion (100%)
2.0 •
• 50% EP, 50% SUG
1.0
• 500 miles
0.0
• 0.8 Bcf/d capacity FL
2007 2017
• PA with FPL for 0.4 Bcf/d for
25-year term
Power generation
• 2011 in-service
Residential, Commercial,
& Industrial
9
Source: EEA/ICF

10. Leveraging LNG Experience
Elba Island LNG Gulf LNG
Savannah, GA Pascagoula, MS
• $1.1 billion terminal expansion and • $1.1 Billion (100%); 50% EP
Elba Express Pipeline • $870 MM non-recourse financing
completed
• 8.4 Bcf incremental storage capacity
• 1.3 Bcf/d base sendout
• 0.9 Bcf/d incremental send-out capacity
• Fully contracted with Angola LNG and ENI
• Fully contracted with Shell and BG
• EPC with Aker Kvaerner
• Current expansion will double facility • 2011 In-service
Investing more than $2 billion on LNG and related projects
10

11. De-risking of Backlog Capital Costs
Typical Pipeline Capex Breakdown
30%–35% 35%–40% 25%–35%
• Pipe • Contractor-related • Right-of-way
• Other
Primary Party
$ Billion At-Risk for Capex
$1.7 Contractor
0.8 Customer
1.4 El Paso
$3.9
11

12. El Paso Pipeline Partners
• Primary focus is natural gas transmission
and storage assets
• Three FERC regulated interstate pipelines:
– 100% of WIC: 800 miles, 2.7 Bcf/d
– 10% of CIG: 4,000 miles, 3.0 Bcf/d
– 10% of SNG: 7,600 miles, 3.7 Bcf/d
• Demand-based revenues from high-quality
customers with strong credit profiles
• Several organic expansions underway
WIC
SNG
CIG
Diverse, Growing Supply Regions High Connectivity to Growing Markets
12

13. Pipeline Summary
• High-quality, committed growth backlog
– Approaching $4 billion
• Focus on project execution
• Manage capital costs
• Long-term EBIT growth expectation 6%–8%
– Higher with continued success
13

14. Total Company
Top 10 Domestic Independent
• Well-situated in key U.S. basins
• Focused on unconventional and
low-risk conventional programs Nile
Onshore-US Delta
• ~80% natural gas Sinai
• Primarily coal seam and Gulf
• 97% drilling success rate Egypt of
tight-gas programs Egypt
• 2.8 Tcfe of proved reserves Suez
• Low to medium risk
• 798 MMcfe/d of production
repeatable plays
• 9.6-year reserve life
• 98% drilling success rate Egypt
• 2.4 Tcfe of proved reserves
• Onshore conventional
• 650 MMcfe/d of production
exploration
• 10.1-year reserve life
Brazil
• 1 MM acres
• First drilling 2H 2008
Rio de
Janeiro
GOM
Brazil
• Medium to high-risk exploration
• 2 discoveries in 2007
• Large acreage position
• 15,000–20,000 BOE/d
• 46% success rate in 2007
beginning 2H 2009
• 152 Bcfe of proved reserves
• 20 undrilled prospects
• 133 MMcfe/d of production
• 247 Bcfe of proved reserves
• 3.1-year reserve life
• 14 MMcfe/d of production
Note: All data is pro forma 2007 to exclude production and reserves related to properties divested
in 2008 and to include a full year of production from our Peoples acquisition in 2007 14

15. High Grading Our Portfolio
• Divested 309 Bcfe of properties for $845 MM (sales price
and assumed asset retirement obligation)—$2.73/Mcfe
– Low inventory, high operating costs
• Purchased Peoples Energy Production for $887 MM
• End result—more focused; more profitable, faster growing;
added 450 total gross drilling locations
15

16. Reserves More Weighted to Onshore Region
2007 Post
2007 YE Reported Divestitures
GOM/SLA
GOM/SLA
5% INTL
INTL
9%
9%
8%
TGC
16%
TGC Onshore Onshore
18% 65% 70%
3.1 Tcfe 2.8 Tcfe
Note: Includes proportionate share of Four Star 16

17. E&P Production
Solid Growth Trajectory Through 2010
MMcfe/d
R
CAG
%–12%
8
870–930
862
798
20082
2007 2007 2009 2010
Pro Forma1
Note: Includes proportionate share of Four Star
1 Excludes volumes from domestic assets sold; assumes full year of Peoples
17
2 Assumes 25 MMcfe/d annualized contributed by the divestiture assets prior to closing

18. E&P Profitability
Growing Faster Than Peers
EBITDA*/Mcfe, Including Hedging
$5.75–
$6.04 $6.00
$5.84 $5.61
$5.58
$4.82
2006 2007A 2008E
Peer Average El Paso
Peer group: APA, APC, CHK, DVN, EOG, FST, NBL, NFX, PXD, PXD, XEC, XTO
Actual results from Peer company reports for 2006 and 2007; Analyst 2008E
* EBITDA excludes exploration and dry hole expense for successful efforts companies
18

19. Significant Undrilled Inventory
• 6.1 Tcfe unrisked non-proved resources
3,400
• 2.8 Tcfe risked non-proved resources
• Risked resources grew 12% in 2007
Resource Potential (Bcfe)
• Excludes domestic divestiture properties
Non-Proved
Risked
Unrisked 2,130
1,460
869 835
495 530
PUD* Unconventional Conventional Conventional
Low-Risk Higher-Risk
Raton, Arkoma,
Black Warrior, Arklatex, Rockies, GOM, TGC,
New Albany TGC, Brazil Int’l Exploration,
Brazil, Egypt
*As of 12/31/07 and Includes proportionate share of Four Star 19

20. Arklatex
AK
Production
(MMcfe/d)
Vacherie Dome/ 200
Bear Creek
150
TX
Minden/SE 100
Brachfield
LA 50
0
Holly/Bethany
2006 2007 2008 2009 2010
Longstreet/Logansport
Program Statistics: 2008 Plan:
1,047 operating wells 111 gross wells
80% avg. WI $319 MM net capital
426 PUD locations
222 Bcfe PUD reserves Value Upside:
404 non-proved locations Cotton Valley Horizontals
540 Bcfe unrisked resource potential Haynesville Shale
504 Bcfe risked resource potential Infill potential
11 R/P 20

21. Arklatex Economics
Objective: Hosston, Cotton Valley Hosston
8,500 ft.
Depth: 7,500'–12,800'
Well costs: $2.5 MM–$3.1 MM Cotton Valley
10,500 ft.
Reserves: 1.0–1.4 Bcfe
Initial prod: 1–5 MMcfe/d
Type Curve
Spacing: 40–80 acres 1,000
800
IRR: 20%–30%
Mcfe/d
600
PVR: 1.15–1.25 400
200
F&D: $2.70–$3.10/Mcfe
0
1 2 3 4 5 6 7 8 9 10
Normalized Years
21
Note: PVR and rate of return based on $7.50 MMBtu and $70.00/Bbl

22. Haynesville Shale Play Outline—North Louisiana
Approx. 36,000Claiborne
gross/
Webster
Marion
27,000 net acres of
Caddo
Haynesville leases
Bossier
Chesapeake Petrohawk
TX Discovery
Discovery
Harrison
Bienville
LA
Red River
Panola
Encana Test
Desoto
Comstock
Test
Natchitoches
Shelby
22

23. E&P Summary
• E&P better positioned post high grading
• Greater Onshore focus
• More profitable
• Deeper inventory
• Visible 8% – 12% multi-year production growth
E&P moving towards top-tier performance
23

24. 2008 Natural Gas and
Oil Hedge Positions
Positions as of April 4, 2008
(Positions are for full-year 2008)
188 TBtu
Average cap $10.21/MMBtu
Ceiling
155 TBtu 33 TBtu
2008 Gas $10.75 ceiling/ $7.65
$8.00 floor fixed price
Floors
188 TBtu
Balance at
Average floor $7.94/MMBtu
Market Price
4.0 MMBbls
Ceiling
Average cap $82.76/Bbl
3.1 MMBbls
0.9 MMBbls
2008 Oil $90.48
$57.03 ceiling/
fixed price
$55.00 floor
Floors
4.0 MMBbls
Average floor $82.29/Bbl
24
Note: See full Production-Related Derivative Schedule in Appendix

25. Substantial Leverage to
Higher Commodity Prices
$ Earnings Per Share
$1.62–
$1.72
Current
$1.70 $1.44–
Market
$1.54
$1.50 $1.25–
Base Case
$1.35
$1.30
$1.00–
$1.10
$1.10
$0.90
$0.70
$0.50
Assumes Assumes Assumes Assumes
$7.50 Gas $9.00 Gas $10.00 Gas $11.00 Gas
25
Note: All data includes $70.00 WTI assumption

26. El Paso Offers Sustainable Long-Term Growth
• Focus on growth opportunities
• Pipelines working to expand committed inventory
• E&P more profitable, more focused, increased
opportunities post high grading
• Committed to grow El Paso Pipeline Partners
• Visible multi-year growth for both businesses
– Pipelines 6%–8% EBIT growth
– E&P 8%–12% production growth
26

27. a meaningful company
doing meaningful work
delivering meaningful results
Doug Foshee
President and Chief Executive Officer
Howard Weil Energy Conference
April 8, 2008

28. Appendix
28

29. Disclosure of Non-GAAP
Financial Measures
The SEC’s Regulation G applies to any public disclosure or release of material information that includes a non-GAAP
financial measure. In the event of such a disclosure or release, Regulation G requires (i) the presentation of the most
directly comparable financial measure calculated and presented in accordance with GAAP and (ii) a reconciliation of
the differences between the non-GAAP financial measure presented and the most directly comparable financial
measure calculated and presented in accordance with GAAP. The required presentations and reconciliations are
provided herein.
El Paso uses the non-GAAP financial measure “earnings before interest expense and income taxes” or “EBIT” to
assess the operating results and effectiveness of the company and its business segments. The company defines EBIT
as net income (loss) adjusted for (i) items that do not impact its income (loss) from continuing operations, such as
extraordinary items, discontinued operations, and the impact of accounting changes; (ii) income taxes; (iii) interest and
debt expense; and (iv) distributions on preferred interests of consolidated subsidiaries. The company excludes interest
and debt expense and distributions on preferred interests of consolidated subsidiaries so that investors may evaluate
the company’s operating results without regard to its financing methods or capital structure. EBITDA is defined as
EBIT plus depreciation, depletion, and amortization. El Paso’s business operations consist of both consolidated
businesses as well as substantial investments in unconsolidated affiliates. As a result, the company believes that EBIT
and EBITDA, which include the results of both these consolidated and unconsolidated operations, is useful to its
investors because it allows them to evaluate more effectively the performance of all of El Paso’s businesses and
investments.
El Paso defines Resource Potential as subsurface volumes of oil and natural gas the company believes may be present
and eventually recoverable. The company utilizes a net, geologic risk mean to represent this estimated ultimate
recoverable amount.
El Paso believes that the non-GAAP financial measures described above are also useful to investors because these
measurements are used by many companies in the industry as a measurement of operating and financial performance
and are commonly employed by financial analysts and others to evaluate the operating and financial performance of
the company and its business segments and to compare the operating and financial performance of the company and
its business segments with the performance of other companies within the industry.
These non-GAAP financial measures may not be comparable to similarly titled measurements used by other companies
and should not be used as a substitute for net income, earnings per share or other GAAP measurements.
29

30. 30

31. Production-Related Derivative Schedule
2008 2009 2010 2011–2012
Notional Avg. Hedge Notional Avg. Hedge Notional Avg. Hedge Notional Avg. Hedge
Natural Gas Volume Price Volume Price Volume Price Volume Price
(TBtu) ($/MMBtu) (TBtu) ($/MMBtu) (TBtu) ($/MMBtu) (TBtu) ($/MMBtu)
Designated—EPEP
Fixed price—Legacy 4.6 $ 3.42 4.6 $ 3.56 4.6 $3.70 6.8 $3.88
Fixed price 21.0 $ 8.37
Ceiling 121.1 $ 10.84
Floor 121.1 $ 8.00
Economic—EPEP
Fixed price 7.3 $ 8.24
Ceiling 33.8 $ 10.43 47.5 $ 11.01
Floor 33.8 $ 8.00 47.5 $ 8.35
Economic—EPM
Ceiling 16.8 $ 8.75
Floor
Avg. ceiling 187.8 $ 10.21 68.9 $ 9.96 4.6 $3.70 6.8 $3.88
Avg. floor 187.8 $ 7.94 52.1 $ 7.93 4.6 $3.70 6.8 $3.88
2008
Notional Avg. Hedge
Crude Oil Volume Price
(MMBbls) ($/Bbl)
Designated—EPEP 3.10 $ 90.48
Fixed price
Economic—EPM 0.93 $ 57.03
Ceiling 0.93 $ 55.00
Floor
4.0 $ 82.76
Avg. ceiling 4.0 $ 82.29
Avg. floor
31
Note: Positions are as of April 4, 2008 (positions for full-year 2008)