BRITISH COL UMBIA UTILITIES COM MISSION ORDER NUMBER A -5-04 SIXTH FLOOR, 900 HOWE STREET, BOX 250 TELEPHONE: (604) 660-4700 VANCOUVER, B.C. V6Z 2N3 CANADA BC TOLL FREE: 1-800-663-1385 web site: http://www.bcuc.com FACSIMILE: (604) 660-1102 IN THE MATTER OF the Utilities Commission Act, R.S.B.C. 1996, Chapter 473 and An Application by Nexen Marketing for a Gas Marketer Licence BEFORE: R.H. Hobbs, Chair M.A. Birch, Commissioner October 12, 2004 O R D E R WHEREAS: A. On July 22, 2004, Nexen Marketing (“Nexen”), a wholly owned subsidiary of Nexen Inc., applied to the Commission for a Gas Marketer Licence. The application included the payment of the $1,000 application fee and a $250,000 Letter of Credit pursuant to the requirements of Item 3 of the Licence application form; and B. The Commission received further information from Nexen on August 16, 2004 and September 29, 2004 that completed the requirements for the Licence application; and C. The Commission has reviewed Nexen’s application and relying upon the information and representations made by Nexen, finds that approval of Gas Marketer Licence subject to conditions is warranted. NOW THEREFORE pursuant to Section 71.1(6) of the Utilities Commission Act the Commission orders as follows: 1. The Commission issues to Nexen a Gas Marketer Licence for the period November 1, 2004 to October 31, 2005. . . ./2
2 2. The Licence is subject to the following conditions: 2.1 Nexen will carry out the undertakings as set out in the application for a Licence to Market Natural Gas and the Rules for Gas Marketers. 2.2 Nexen will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc. 2.3 Nexen will maintain a Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence. 2.4 Nexen will maintain a Working Capital position of at least $50,000 and a Current Ratio of current assets to current liabilities of at least 1.10. 2.5 The Commission may, at any time and without prior notice to Nexen, withdraw the Gas Marketer Licence for reasons the Commission, in its sole discretion, deems and considers sufficient. 2.6 The Gas Marketer Licence and all copies of it shall remain the property of the Commission and Nexen will return these documents forthwith upon written request from the Commission. DATED at the City of Vancouver, in the Province of British Columbia, this 18th day of October 2004. Orders/Nexen-NGM Licence BRITISH COLUMBIA UTILITIES COMMISSION ORDER NUMBER A-5-04 BY ORDER Original signed by: Robert H. Hobbs Chair
LICENCE NO. A-5-04 GAS MARKETER LICENCE ____________________________ is granted a licence for the purpose of providing advice to, or acting on behalf of, a low volume consumer (1) purchasing gas directly in the Province of British Columbia subject to the terms and conditions contained in Commission Order No. A-5-04, which are set out in the reverse of the Licence. BRITISH COLUMBIA UTILITIES COMMISSION Original signed by: Robert H. Hobbs _______________________________________ CHAIR ISSUED: November 1, 2004 EXPIRES: October 31, 2005 (1) As described in the Rules for Gas Marketers.
The Licence is subject to the following conditions: 2.1 Nexen will carry out the undertakings as set out in the application for a Licence to Market Natural Gas and the Rules for Gas Marketers. 2.2 Nexen will comply with the Code of Conduct for Gas Marketers and Rate Schedule 36 of Terasen Gas Inc. 2.3 Nexen will maintain a Letter of Credit or acceptable substitute in full force and effect for the duration of the Licence. 2.4 Nexen will maintain a Working Capital position of at least $50,000 and a Current Ratio of current assets to current liabilities of at least 1.10. 2.5 The Commission may, at any time and without prior notice to Nexen, withdraw the Gas Marketer Licence for reasons the Commission, in its sole discretion, deems and considers sufficient. 2.6 The Gas Marketer Licence and all copies of it shall remain the property of the Commission and Nexen will return these documents forthwith upon written request from the Commission.
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