Reparo Energy Partners Corp. (NSEFD)

[NYBob]

Jim Prentice, Minister of Indian Affairs and Northern
Development, said the file is being handled by "excellent"
people who will continue its momentum -

Election should not delay pipeline -
Claudia Cattaneo Calgary Bureau Chief,
Financial Post
March 03, 2007 - CALGARY -

A federal election should not delay the proposed -
Mackenzie natural gas pipeline, the minister
responsible indicated yesterday.

Jim Prentice, Minister of Indian Affairs and Northern
Development, said the file is being handled by
"excellent" people who will continue its momentum.

"When I became the minister, I ensured that there was
no loss of continuity.

We have really good people that will be able to sustain
this on a go-forward basis," he told reporters after
addressing a symposium on Arctic Gas.

There is speculation the government of Stephen Harper
could call an lection as soon as this spring to take
advantage of the Conservatives' surge in the polls.

The massive pipeline project, which has been delayed
so many times it's now about five years behind the
original schedule, will require key federal government
decisions after Imperial Oil Ltd., the lead partner,
finalizes a review of cost estimates by -
the end of the month.

The oil company is expected to look for substantial
fiscal enhancements to improve the project's economics.

The pipeline would transport gas from the Mackenzie Delta
to Alberta.

Under a regulatory filing in 2004, the pipeline
was expected to cost $7-billion.

However, analysts believe costs have likely increased
above $10-billion.

Mr. Prentice said some discussions have been held
with Imperial on the broad terms of the project's
fiscal framework, but more in-depth negotiations will
not get under way until new cost estimates have
been announced.

Talks with Ottawa were delayed a year ago because of
the federal election that resulted in the defeat of
the Liberal government.

Mr. Prentice said he is observing developments in
Alaska, where governor Sarah Palin has offered
as much as US$500-million in incentives to help
defray permitting costs and encourage construction
of the proposed Alaska Highway gas pipeline.

He would not say whether Ottawa would be willing to
step up with similar incentives.

"We will wait and see in the days after Imperial
and other proponents put forward the costs of
the project," he said.

He noted Ottawa has already helped the project in other
ways, such as by pledging $500-million in socio-economic
funds for the advancement of aboriginal people and
by incurring large costs related to
the regulatory review.

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