1. Pipeline options for Canadian crude oil to the US Gulf Coast Presentation to the Wyoming Pipeline Authority October 24, 2006 Casper, WY

2. 2 Forward Looking Statements Certain information provided in this presentation constitutes forward- looking statements. The words "anticipate", "expect", "project" and similar expressions are intended to identify such forward looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Enbridge assumes no obligation to publicly update or revise any forward looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

3. 3 Rocky Mountain Issues Expected growth from the WCSB Enbridge pipeline transportation solutions 1.Spearhead Pipeline 2.Southern Access 3.Alberta Clipper 4.Gateway 5.US Gulf Coast Agenda

4. 4 Rocky Mountain Region Issues & Solutions Guernsey, Wyoming hub has been oversupplied Canadian production and Williston Basin production in Montana and North Dakota has increased dramatically Oversupply has led to increased demand for transportation into other markets Portions of the Enbridge North Dakota system have been prorated Enbridge North Dakota has implemented Capacity Initiatives and Mainline Segment Expansions

5. 5 Expected growth from the WCSB: Current production 2.4 MMbpd 3.0 MMbpd by 2010, an increase of 25% 4.0 MMbpd by 2015, an increase of 67% Enbridge pipeline transportation solutions 1.Spearhead Pipeline 2.Southern Access Expansion 3.Southern Access Extension 4.Alberta Clipper Access to new markets for WCSB production will be required. US Gulf Coast Target: US Gulf Coast Supply Growth and Transportation Solutions

6. 6 Alberta Clipper and Southern Access Capacity Expansions  System capacity expansions to improve access from Hardisty  Southern Access Expansion – Approved & under construction  Southern Access Extension – Regulatory Application filed, pending approval  Alberta Clipper – Commercial Concept, Regulatory Application to be filed Q1 2007

7. 7 Gateway Oil pipeline 525 kbpd capacity 725 miles of 36” pipe Condensate pipeline 193 kbpd capacity 725 miles of 20” pipe Mainline Terminal 5.5 MM bbl tankage (oil) 1.5 MM bbl tankage (Condensate) 2 tanker berths Finalizing Anchor Shippers Q4 2006 Regulatory filing pending commercial certainty

8. 8 USGC Access USGC Proposed Pipeline Options: 1. Flanagan to Houston 2. Patoka to Beaumont 3. Patoka to St. James 4. Hardisty to Houston Proposed options are all greenfield projects which Enbridge can develop independently and in a timely manner. Other options are being considered (i.e. utilizing existing pipelines owned by others) but are not addressed in this presentation.

9. 9 USGC Map Key Points:  Gulf Coast, largest US refining area  Viable destination for Oilsands growth  Options 1-3 efficiently build upon proposed Clipper & S.A. projects 1 2 3 4

10. 10 USGC Summary of Options Hardisty to USGC Illustrative Toll (2011) ($US/bbl) Estimated in- Service Date Hardisty to USGC Approximate Transit Time (Days) Option 1 30” Flanagan to Cushing, 30” Cushing to Houston 4.30201131 Option 2 30” Patoka to Beaumont 3.95201129 Option 3 30” Patoka to St. James 3.75201127 Option 4 36” Hardisty to Houston 3.952011-1233 * Tolls include power * Capacity 400 kbpd

11. 11 USGC Access Considerations as it Affects Wyoming Wyoming support may help accelerate ROW access in certain areas Intermediate receipt or delivery points in Wyoming need to be examined Access to Wyoming refineries Pipeline operations, crude quality, tankage

12. 12 USGC Access Next Steps Continue to define project scope through ongoing dialogue with interested shippers Run further toll analysis as project scope and cost estimates are better defined Continue to examine alternative options Finalize scope: Q4/2006 Open Season:Q1/2007 Execute agreements:Q2/2007

13. Pipeline options for Canadian crude oil to the US Gulf Coast Presentation to the Wyoming Pipeline Authority October 24, 2006 Casper, WY

14. 14 Historical & Forecast Supply Market Unconstrained Case Conventional Light Synthetic Light Raw Bitumen Conventional Heavy Pentanes Plus Synthetic Heavy Forecast Historical 2006 Survey Potential 2006 Risked Supply 2006 CAPP Forecast 2006 NEB Forecast