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Pacific Energy Partners, L.P. (NYSE:PPX) (“Pacific
Energy”) declared a cash distribution of
$0.5675 per unit for the quarter ended September 30, 2006. The
distribution remains unchanged from the distribution for the quarter
ended June 30, 2006 and is 10.7% greater than the distribution for the
quarter ended September 30, 2005. The distribution is payable on or
before November 14, 2006 to unitholders of record as of October 31,
2006. On an annualized basis, the distribution rate is $2.27 per unit.
About Pacific Energy:
Pacific Energy is a master limited partnership headquartered in Long
Beach, California. Pacific Energy is engaged principally in the business
of gathering, transporting, storing and distributing crude oil, refined
products and other related products. Pacific Energy generates revenues
by transporting such commodities on its pipelines, by leasing capacity
in its storage facilities and by providing other terminaling services.
Pacific Energy also buys and sells crude oil, activities that are
generally complementary to its crude oil operations. Pacific Energy
conducts its business through two business units, the West Coast
Business Unit, which includes activities in California and the
Philadelphia, PA area, and the Rocky Mountain Business Unit, which
includes activities in five Rocky Mountain states and Alberta, Canada.
For additional information about Pacific Energy, please visit www.PacificEnergy.com.
Investor Notice:
Pacific Energy and Plains All American Pipeline, L.P. (“Plains”)
have filed a joint proxy statement/prospectus and other documents with
the Securities and Exchange Commission (“SEC”)
with respect to the proposed merger of Pacific Energy with and into
Plains, which joint proxy statement/prospectus has been declared
effective by the SEC. The definitive joint proxy statement/prospectus
has been sent to security holders of Pacific Energy and Plains seeking
their approval of the merger and related transactions. Investors and
security holders are urged to carefully read the joint proxy
statement/prospectus because it contains important information,
including detailed risk factors, regarding Pacific Energy, Plains and
the merger. Investors and security holders may obtain a free copy of the
definitive joint proxy statement/prospectus and other documents
containing information about Pacific Energy and Plains, without charge,
at the SEC's web site at www.sec.gov.
Copies of the definitive joint proxy statement/prospectus and the SEC
filings that are incorporated by reference in the joint proxy
statement/prospectus may also be obtained free of charge by directing a
request to Pacific Energy or Plains. Pacific Energy or Plains and the
officers and directors of the respective general partners of Pacific
Energy or Plains may be deemed to be participants in the solicitation of
proxies from their security holders in connection with the proposed
transaction. Information about these persons can be found in Pacific
Energy’s or Plains' respective Annual Reports
on Form 10-K filed with the SEC, and additional information about such
persons may be obtained from the joint proxy statement/prospectus.
Cautionary Statement Regarding Forward-Looking Statements
This news release may include “forward-looking”
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All statements other than statements of historical
fact included or incorporated herein may constitute forward-looking
statements. Although Pacific Energy believes that the forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. The forward-looking statements
involve risks and uncertainties that may affect Pacific Energy’s
operations and financial performance. Among the factors that could cause
results to differ materially are those risks discussed in Pacific Energy’s
filings with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for the year ended December 31, 2005,
including the definitive joint proxy statement/prospectus referred to in
this press release.
For additional information about the partnership, please visit www.PacificEnergy.com.
Pacific Energy Partners, L.P. (NYSE:PPX) ("Pacific Energy")
declared a cash distribution of $0.5675 per unit for the quarter ended
September 30, 2006. The distribution remains unchanged from the
distribution for the quarter ended June 30, 2006 and is 10.7% greater
than the distribution for the quarter ended September 30, 2005. The
distribution is payable on or before November 14, 2006 to unitholders
of record as of October 31, 2006. On an annualized basis, the
distribution rate is $2.27 per unit.
About Pacific Energy:
Pacific Energy is a master limited partnership headquartered in
Long Beach, California. Pacific Energy is engaged principally in the
business of gathering, transporting, storing and distributing crude
oil, refined products and other related products. Pacific Energy
generates revenues by transporting such commodities on its pipelines,
by leasing capacity in its storage facilities and by providing other
terminaling services. Pacific Energy also buys and sells crude oil,
activities that are generally complementary to its crude oil
operations. Pacific Energy conducts its business through two business
units, the West Coast Business Unit, which includes activities in
California and the Philadelphia, PA area, and the Rocky Mountain
Business Unit, which includes activities in five Rocky Mountain states
and Alberta, Canada.
For additional information about Pacific Energy, please visit
www.PacificEnergy.com.
Investor Notice:
Pacific Energy and Plains All American Pipeline, L.P. ("Plains")
have filed a joint proxy statement/prospectus and other documents with
the Securities and Exchange Commission ("SEC") with respect to the
proposed merger of Pacific Energy with and into Plains, which joint
proxy statement/prospectus has been declared effective by the SEC. The
definitive joint proxy statement/prospectus has been sent to security
holders of Pacific Energy and Plains seeking their approval of the
merger and related transactions. Investors and security holders are
urged to carefully read the joint proxy statement/prospectus because
it contains important information, including detailed risk factors,
regarding Pacific Energy, Plains and the merger. Investors and
security holders may obtain a free copy of the definitive joint proxy
statement/prospectus and other documents containing information about
Pacific Energy and Plains, without charge, at the SEC's web site at
www.sec.gov. Copies of the definitive joint proxy statement/prospectus
and the SEC filings that are incorporated by reference in the joint
proxy statement/prospectus may also be obtained free of charge by
directing a request to Pacific Energy or Plains. Pacific Energy or
Plains and the officers and directors of the respective general
partners of Pacific Energy or Plains may be deemed to be participants
in the solicitation of proxies from their security holders in
connection with the proposed transaction. Information about these
persons can be found in Pacific Energy's or Plains' respective Annual
Reports on Form 10-K filed with the SEC, and additional information
about such persons may be obtained from the joint proxy
statement/prospectus.
Cautionary Statement Regarding Forward-Looking Statements
This news release may include "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact included or
incorporated herein may constitute forward-looking statements.
Although Pacific Energy believes that the forward-looking statements
are reasonable, it can give no assurance that such expectations will
prove to be correct. The forward-looking statements involve risks and
uncertainties that may affect Pacific Energy's operations and
financial performance. Among the factors that could cause results to
differ materially are those risks discussed in Pacific Energy's
filings with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for the year ended December 31, 2005,
including the definitive joint proxy statement/prospectus referred to
in this press release.
For additional information about the partnership, please visit
www.PacificEnergy.com.