8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 10, 2005 (June 9, 2005)

Bill Barrett Corporation

(Exact name of registrant as specified in its charter)

Delaware	001-32367	80-0000545
(State or other jurisdiction	(Commission File No.)	(IRS Employer Identification No.)
of incorporation)

1099 18th Street, Suite 2300
Denver, Colorado	80202
(Address of principal	(Zip Code)
executive offices)

(303) 293-9100
(Registrant’s telephone number, including area code)

Not Applicable
(Former names or former address, if changed since last report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Press Release

Presentation

Item 7.01. Regulation FD Disclosure.

     On June 9, 2005, the Company issued a press release announcing its participation in the Morgan Stanley Small Cap Conference to be held in New York City, New York on June 13-15, 2005. Company President Fred Barrett will present to the conference on Tuesday, June 14, 2005 at 2:45 p.m. EDT. A link to Mr. Barrett’s presentation, including the audio portion, will be available on the Company’s website at http://www.billbarrettcorp.com. The presentation will be available on this website until July 14, 2005.

     A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. A copy of Mr. Barrett’s presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K

     In accordance with General Instruction B.2 of Form 8-K, the information in this report shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

Exhibit Number	Description of Exhibit
99.1	Press Release, dated June 9, 2005
99.2	Presentation to be made on June 14, 2005

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 10, 2005	BILL BARRETT CORPORATION
	By:	/s/ Francis B. Barron
		Francis B. Barron
		Senior Vice President — General Counsel

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EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release, dated June 9, 2005
99.2	Presentation to be made on June 14, 2005

EX-99.1

EXHIBIT 99.1

| Press Release

For Immediate Release on Thursday, June 9, 2005

Company contact: Robert W. Howard, Executive Vice President, Finance and Investor Relations or Jim Felton, Investor Relations Manager, 303-293-9100

Bill Barrett Corporation to Present at Morgan Stanley Small Cap Conference June 13-15

DENVER – (PR Newswire) – June 9, 2005 – Bill Barrett Corporation (NYSE: BBG) announced its participation in the Morgan Stanley Small Cap Conference to be held in New York City, New York on June 13-15, 2005.

Company President Fred Barrett will present to the conference on Tuesday, June 14 at 2:45 p.m. EDT. A link to Mr. Barrett’s presentation, including the audio portion, will be available on the Company’s website at http://www.billbarrettcorp.com. The presentation will be available on this website until July 14, 2005.

About Bill Barrett Corporation

Bill Barrett Corporation, headquartered in Denver, explores for and develops oil and natural gas in the Rocky Mountain region of the United States. The Company has projects in nine basins in the Rocky Mountains. Additional information about Bill Barrett Corporation can be found on its web site www.billbarrettcorp.com.

Forward-Looking Statements

This press release and certain statements in the referenced presentation are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements reflect Bill Barrett Corporation’s current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of Bill Barrett Corporation risk management activities, governmental regulations and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2004 filed with the Securities and Exchange Commission www.sec.gov.

EX-99.2

Exhibit 99.2

1099 18th Street, Suite 2300 Denver, Colorado 80202 303.293.9100, fax 303.291.0420 www.billbarrecttcorp.com BB G NYSE LISTED Morgan Stanley Conference June 2005 Fred Barrett President

Except for the historical information contained herein, the matters discussed in this presentation are forward-looking statements. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. These statements, however, are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2004 filed with the Securities and Exchange Commission (SEC). We refer you to the "Cautionary Note Regarding Forward-Looking Statements" section of the Form 10-K. Forward-Looking Statements

Corporate Office: Denver, Colorado Founded 2002 IPO December 9, 2004; NYSE symbol BBG 155 employees Technical staff includes: 12 Geologists 4 Geophysicists 16 Petroleum Engineers 6 Landmen 2 Environmental/Regulatory Specialists Summary Information

Pure Rockies exploration and production company focused primarily on natural gas Extensive multi-year development drilling inventory Exposure to multiple high impact, high return exploration plays Heavily weighted towards unconventional projects: lower risk, repeatable, long life and very large reserve size; potential to become legacy assets Develop and utilize cutting-edge technology Highly visible production and reserve growth Strong balance sheet positioned for growth Experienced management team and technical staff with demonstrated exploration expertise Key Corporate Attributes

Northeast Gulf Coast Midcontinent Southwest Rocky Mountain West Coast Pacific 1990 0.7809069 4.331861 3.380096 1.635423 1.664721 0.3017485 0.0513908 0.7931091 4.363564 3.282838 1.642234 1.808598 0.3135721 0.0557654 0.7699254 4.369802 3.236064 1.691908 2.11667 0.2943003 0.061522 0.7724932 4.488544 3.255246 1.650476 2.183807 0.2546072 0.0531946 0.7853501 4.509785 3.18192 1.758995 2.425097 0.2470925 0.0543025 1995 0.7903771 4.625696 3.032781 1.632592 2.538141 0.2159502 0.0540134 0.8095428 4.76177 2.972016 1.614197 2.510087 0.2169776 0.0587816 0.8140745 4.842009 2.845341 1.541434 2.696139 0.2268242 0.0484289 0.8451952 4.878552 2.743473 1.538941 2.887514 0.2575964 0.0485035 0.8883926 4.782995 2.570037 1.55962 2.93389 0.3130921 0.0601454 0.9710838 4.962299 2.544863 1.565861 3.2368 0.3065502 0.0601762 0.9494369 5.054059 2.499757 1.664018 3.41589 0.3176881 0.0501858 2002 0.9921287 5.024478 2.487347 1.618458 3.333735 0.3031291 0.047906 0.9119383 4.763072 2.324567 1.7105 3.860825 0.2540212 0.0443635 0.8869669 4.871829 2.258326 1.787085 3.861237 0.2496552 0.0374822 0.8851272 4.856716 2.299939 1.720654 3.982808 0.2492065 0.0321709 0.9053726 4.802963 2.383343 1.617465 4.14469 0.2504053 0.027972 0.9619027 4.754121 2.45366 1.569531 4.291505 0.2448297 0.0245594 1.011397 4.736957 2.515233 1.54719 4.489852 0.2388671 0.0217662 1.013828 4.700434 2.50787 1.512536 4.57286 0.2294939 0.0193919 2010 1.049704 4.64823 2.514224 1.475065 4.571667 0.2237325 0.0174185 1.075172 4.674655 2.553164 1.472224 4.789068 0.223269 0.0157903 1.102446 4.762502 2.620019 1.493291 5.004107 0.2208241 0.0125758 1.123651 4.791934 2.662747 1.49179 5.144279 0.2192901 0.0115149 1.152676 4.828509 2.682442 1.49172 5.287638 0.216526 0.0107123 2015 1.202899 4.984752 2.733721 1.514105 5.463955 0.214921 0.0098838 1.216296 4.926589 2.704561 1.508811 5.60984 0.2120837 0.0104656 1.247546 4.973254 2.723662 1.534931 5.732456 0.2104448 0.0097328 1.27271 4.928548 2.70836 1.544742 5.62288 0.20358 0.0102684 1.274941 4.834517 2.666622 1.528652 5.59094 0.2003902 0.0095933 2020 1.285057 4.848247 2.709576 1.534761 5.830499 0.2020688 0.0089676 1.287832 4.825687 2.710368 1.533424 5.971581 0.2011703 0.0084752 1.265627 4.695904 2.664841 1.515911 6.083125 0.1995267 0.0079883 1.242406 4.648282 2.636428 1.515384 6.082216 0.1955925 0.007532 1.212421 4.574418 2.597997 1.509568 6.13156 0.1938262 0.0068058 2025 1.189511 4.491701 2.576471 1.507439 6.301393 0.1915523 0.0064485 2004 1995 1990 2010 2015 2020 2025 2000 * Source: Dept. of Energy, EIA; Released: January 2004 Lower 48 Projected Natural Gas Production Gulf Coast Mid-Continent Southwest Northwest West Coast Focus on the Rocky Mountains Rocky Mountains Historical Projected Where is the primary resource base?

Denver, CO Big Horn Basin Powder River Basin Green River Basin Uinta Basin Piceance Basin Paradox Basin Williston Basin DJ Basin Wind River Basin CBM 1,094 Horizontal 102 Hill Creek 7 Cave Gulch Cooper Reservoir Wallace Creek 165 Talon 21 W. Tavaputs 203 Gibson Gulch 808 Extensive Development Inventory 292 Bcfe proved reserves at year-end 2004 412 Bcfe probable 452 Bcfe possible 1.1 Tcfe P3 reserves 2,405 gross un-risked P3 drilling locations Seven year drilling inventory 94% avg. WI, 92% operated Gas Prone Area Oil Prone Area Development Project Lake Canyon 5

Significant Exploration Upside 24 exploration projects (^ 65 prospects) 70% unconventional Over 10 Tcfe unrisked potential Dominant lease position in high potential areas, 970,000 + total net acres Approximately 800 sq. mi. 3-D seismic coverage Budgeted 19 exploration wells in 2005 Denver, CO CBM Wyodak, Big George Hook Unrisked Target Size 50-250 Bcfe (3 areas) 250-500 Bcfe (4 areas) Note: one area not shown for competitive reasons 500 Bcfe to Multi-Tcfe (8 areas) Note: one area not shown for competitive reasons Big Horn Basin Powder River Basin Green River Basin Uinta Basin Piceance Basin Paradox Basin Williston Basin DJ Basin Wind River Basin Waltman Arch 6 Projects Lake Canyon, Brundage Canyon Tavaputs Gibson Gulch Big Horn Tri-State Pine Ridge Yellow Jacket

Grand SCALE: 1 Township = 36 sq mi Rifle, CO 10 MMcfe/d Net Production (Q1 2005) 22,617 Gross / 18,207 Net Acres (Mar. 2005) 89 Bcfe Est. Proved Reserves (Dec. 31, 2004) $127 MM Capex 2005 (80 Wells, 4 re-completes) Piceance Basin Basin Centered Gas Project - Gibson Gulch Hogback Grand Valley 233 Bcfe 130 MMcfed Rulison 275 Bcfe 128 MMcfed Parachute 139 Bcfe 88 MMcfed Mamm Creek 259 Bcfe 271 MMcfed Divide Creek 65 Bcfe 2 MMcfed Barrett Acreage Gas Producing Area Pipeline CIG 16" Questar Gibson Gulch COLORADO Piceance Basin White River Uplift

Silt Gibson Gulch Unit 10-acre pilot Proposed 3D Seismic Barrett Acreage Joint Ownership Areas Gibson Gulch Unit Mesaverde Structure 2005 Location Barrett Wells 2005 Producing Well WO 1st Sales Completing WOCT Barrett Exploratory Wells Scale: 640 ac = 1 Mile (with 10 ac grid) Mamm Creek 259 Bcfe 271 MMcfed COLORADO Piceance Basin Gibson Gulch, Piceance Basin Seven Year Drilling Inventory Based on 20-Acre Well Density 10-Acre Density Being Evaluated D = Development wells = Key information/results available 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA Gibson Gulch Piceance DRILLING SCHEDULE D on-going program (3-7 rigs)

San Arroyo 381 Bcfe Monument Butte 289 Bcfe Natural Butte 2 Tcfe Altamont/Bluebell 3.1 Tcfe Drunkards Wash 278 Bcfe West Tavaputs Garmesa Lake Canyon Price, UT Hill Creek Tumbleweed Cedar Camp Brundage Canyon Roosevelt, UT 49 Bcfe Est. Proved Reserves (Dec. 31, 2004) $67 MM Capex 2005 (20 Wells, 4 re-completes) 17 MMcfe/d Net Production (Q1 2005) UTAH Uinta Basin Trend Garmesa SCALE 1 Township = 36 sq mi Uinta Basin

E = Exploratory wells D = Development wells = Key information/results available 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA W. Tavaputs E Uinta Scale: 640 ac = 1 Mile (with 40 ac grid) West Tavaputs Project Barrett Acreage Seismic Option Acreage Gas Well 2005 Location 3-D Seismic Outline Existing Pipelines Proposed Pipelines 83 Sq Mile 3-D Survey WOC 15,700' Deep Test Completing 46,702 gross, 42,355 net acres 100% WI, 83% avg. NRI $55 MM 2005 capex 14 wells, 4 recompletions 7 Mcfe/d net production (Q1 2005) 51 mile gathering system Uinta Basin DRILLING SCHEDULE D 13 wells Recomplete Recomplete Re-completes Getty Deep Well (1980) Tested: Dakota 315 Mcf Entrada 1,800 Mcf Deep Well (1967) Questar interconnect Compressor site Completing

SCALE 1 Township = 36 sq mi Key Well 14-1 Marsing (1975) 4,000' gas saturated Mesaverde section Lake Canyon / Brundage Canyon Exploration Project 216,000 Gross / 163,500 Net Acres Targets: Green River, Mesaverde and Blackhawk Altamont/Bluebell Duchesne Structural Level of Natural Buttes Barrett Acreage Mesaverde Penetrations Oil Producers Pipelines Faults Temporarily Abandoned Planned 57 sq mi 3D Seismic Survey Green River E 2 wells 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA Mesaverde E 3D Uinta E DRILLING SCHEDULE Lake Canyon Lake Canyon Gross BBC Net Fee 55,627.00 33,987.00 EDA 124,794.00 93,596.00 Brundage 49,000.00 36,750.00 Total 229,421.00 164,333.00 Per Tab, May 11, 2005: #1 DLB TD 14,500' WI 75% Shallow Green River locations WI 25%

Cave Gulch Cooper Reservoir Wallace Creek Pommard Madden 3+ Tcfe Frenchie Draw 100+ Bcfe WALTMAN ARCH 3-D SCALE: 1 Township 36 sq mi EAST MADDEN 3-D Play Lance Basin - Centered Gas Wind River Basin 38 MMcfe/d Net Production (Q1 2005) 159,012 Net Undeveloped Acres 83 Bcfe Est. Proved Reserves (Dec. 31, 2004) $62 MM 2005 Capex (19 wells, 7 re-completes) Owl Creek Thrust Fault Thrust Arch Waltman Windjammer Stone Cabin WYOMING Wind River Basin Barrett Acreage Gas Field Faults TALON

Waltman Arch Wind River Basin Cave Gulch Waltman Bullfrog Cooper Reservoir Wallace Creek Windjammer Pommard East West Stone Cabin Scale in Miles 0 6 Thrust Arch Waltman Barrett Acreage Structural Axes Thrust Faults Gas Productive Area Oil Productive Area Large contiguous acreage position with 375 sq miles of 3D $39 MM 2005 Capex (12 wells, 7 re-completes) 153,126 gross, 75,496 net acres 75-100% WI Exploratory program 6 identified plays E = Exploratory wells D = Development wells = Key information/results available 12-well Dev. program D Development Waltman Arch 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA E DRILLING SCHEDULE Bull Frog 3D Seismic Survey E 2 wells Testing

Madden 3+ Tcfe Frenchie Draw 100+ Bcfe EAST MADDEN 3-D Play Lance Gas Owl Creek Thrust Fault Thrust Arch Waltman Area of New Ft. Union and Lance Production Hitchcock Draw 16,600' Testing BBC Talon Unit BBC WI 44-64% Yates Mahoney Unit BBC WI 44-100% Yates Riverbank Unit BBC WI 44% Testing WOPL BBC WI 37.5% Eastern Wind River - Basin Centered Gas Projects 262,060 Gross and 93,199 Net Acres E = Exploratory wells D = Development wells = Key information/results available East Madden Talon 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA E 7 well program E DRILLING SCHEDULE Wind River Talon and East Madden Basin - Centered Barrett Acreage Gas Well Dry Hole Faults

40 Bcfe Est. Proved Reserves (Dec. 31, 2004) $24 MM 2005 Capex (219 Big George wells) 23 MMcfe/d Net Production (Q1 2005) 47,123 Net Undeveloped Acres (Mar. 2005) MT WY Powder River Basin Barrett Acreage Gas Producing Area Cat Creek Amos Draw DeadHorse Willow Creek Porcupine Palmtree BIG GEORGE PLAY Union Outcrop Fort Gillette, WY Fort Outcrop Union SCALE 1 Township = 36 sq mi Tuit WYODAK PLAY Powder River Basin - Coal Bed Methane D = Development wells = Key information/results available Powder River 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA DRILLING SCHEDULE On-going 219 well program

Record Of Growth Production and Cash Flow Williston Piceance Powder River Uinta Wind River 6.06 7.9 24.2 17.1 36.4 Q1 2005 Production (MMcfe/d) Williston 6 Piceance 10 Powder River 23 Uinta 17 Wind River 38 Production (MMcfe/d) 2002 2002 2003 2004 2005 Drilling 24.2 24.4 69.2 88.6 94.1 Q2 2002 Q4 2002 Q4 2003 Q4 2004 Q1 2005 24 24 69 89 94 57% CAGR 2002 2002 2003 2004 2005 2545 3163 14868 28256 31608 Discretionary Cash Flow (millions) Q2 2002 Q4 2002 Q4 2004 Q1 2005 $3 $3 $28 $32 132% CAGR Q4 2003 $15 2002 2002 2003 2004 2005 2.49 2.91 4.49 6.22 5.96 Pre-Hedged Realized Gas Prices (per Mcf) Q2 2002 Q4 2002 Q4 2004 Q1 2005 $2.48 $2.97 $6.23 $5.96 33% CAGR Q4 2003 $4.50

2002 2003 2004 2005E Drilling 31.3 151.7 209 305 Acquisitions 134.5 44.6 138 0 PRB 11 53 23 21 DJ 0 0 4 0 Williston 13 7 13 22 Other 13 5 1 0 Capex ($MM) $135 $31 $45 $152 $138 $209 $305 Acquisitions Base Capex 2005 Capex $305 MM Wind River Other Piceance Uinta 62 49 127 67 Piceance 42% Uinta 22% Wind River 20% Other 16% Development Exploration Other 74 11 15 *Includes Acreage, Facilities and G&G Exploration 11% Other* 15% Development 74% East 46 160 667 798 928 Mar 2002 Dec 2002 Dec 2003 Dec 2004 172% CAGR Mar 2005 928 798 667 160 46 Net Undeveloped Acres (thousands) Record Of Growth Investment In Our Asset Base 80% CAGR 2002 2002 2003 2004 Drilling 58 130 204 292 Mar 2002 Dec 2002 Dec 2003 Dec 2004 292 130 58 204 Net Proved Reserves (Bcfe)

Denver, CO Big Horn Basin Powder River Basin Green River Basin Uinta Basin Piceance Basin Paradox Basin Williston Basin DJ Basin Wind River Basin CBM 1,094 Horizontal 102 Hill Creek 7 Cave Gulch Cooper Reservoir Wallace Creek 165 Talon 21 W. Tavaputs 203 Gibson Gulch 808 Extensive Development Inventory 292 Bcfe proved reserves at year-end 2004 412 Bcfe probable 452 Bcfe possible 1.1 Tcfe P3 reserves 2,405 gross un-risked P3 drilling locations Seven year drilling inventory 94% avg. WI, 92% operated Gas Prone Area Oil Prone Area Development Project Lake Canyon 5

Significant Exploration Upside Denver, CO CBM Wyodak, Big George Hook Unrisked Target Size 50-250 Bcfe (3 areas) 250-500 Bcfe (4 areas) Note: one area not shown for competitive reasons 500 Bcfe to Multi-Tcfe (8 areas) Note: one area not shown for competitive reasons Big Horn Basin Powder River Basin Green River Basin Uinta Basin Piceance Basin Paradox Basin Williston Basin DJ Basin Wind River Basin Waltman Arch 6 Projects Lake Canyon, Brundage Canyon Tavaputs Gibson Gulch Big Horn Tri-State Pine Ridge Yellow Jacket 24 exploration projects (^ 65 prospects) 70% unconventional Over 10 Tcfe unrisked potential Dominant lease position in high potential areas, 970,000 + total net acres Approximately 800 sq. mi. 3-D seismic coverage Budgeted 19 exploration wells in 2005

E = Exploratory wells = Key information/results available 3D = 3D seismic survey SCALE 1 Township = 36 sq mi Barrett Acreage Gas Well Oil Producers San Arroyo 381 Bcfe Hill Creek 9.7 MMcfed net (March 2005) WI 37.5 - 75% Trend Garmesa Uinta Basin Garmesa Exploration Project West Tavaputs 8,217 Net Acres 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA Tumbleweed Uinta Cedar Camp E 3 wells 3D DRILLING SCHEDULE Cedar Camp 16 sq mi 3D WI 37.5 - 80% Tumbleweed 20 sq mi 3D WI 38.66% Cedar Mountain 2 Bcf & 5 Bcf Testing

World Class Structure Multiple Pay Horizons Multiple Drilling Inventories in Each Field Waltman Arch East-West Seismic Profile 15+ miles West East 15,000' Mesaverde 6000' uplift Lance Cody Frontier Muddy Tensleep Basement Fort Union THRUST WALTMAN ARCH Up Down Meeteetse Raderville Madison

Williston Basin - Horizontal Technology Play Predominantly Fee Lands Oil Component 31 Bcfe Est. Proved Reserves (Dec. 31, 2004) $14 MM 2005 Capex (7 wells, 1 re-entry) 6 MMcfe/d Net Production (Q1 2005) 192,524 Gross / 129,077 Net / 121,413 Net Undeveloped Acres (Mar. 2005) Exploratory Joint Venture Program Up to 4 wells Barrett Acreage Oil Field Gas Field SOUTH DAKOTA MONTANA Williston Basin Mapped Area NORTH DAKOTA Grand River Red River "B" Play Cedar Creek Anticline Scale in Miles 0 30 Cedar Hills Field Bakken Trend Indian Hills Madison Play Target-Red Bank Madison Play Red Bank Extension Madison Play Mondak Bakken Play

Central Williston Williston Basin, Montana & North Dakota Madison and Bakken Trends 2005 2006 Q1 Q2 Q3 Q4 Q1 Q2 D 4 wells Williston Target/Red Bank E 4 wells DRILLING SCHEDULE BASIN AREA Target 85 -100% WI Red Bank 90 -100% WI M O N T A N A N. D A K O T A SCALE 1 Township = 36 sq mi Red Bank Extension 65 -100% WI Harding Madison Nameless Madison Indian Hills Madison 35-75% WI Target/Red Bank/Red Bank Extension Multi-pay potential Mondak Bakken 22-100% WI Red Water Bakken 95 -100% WI Barrett Acreage Oil Well 2005 Dev. Location Exploratory Location Bakken Trend

E = Exploratory wells D = Development wells = Key information/results available Grand River Williston Basin, North & South Dakota Scale: 640 ac = 1 Mile (with 40 ac grid) Total leasehold 22,998 gross, 17,397 net acres 75 - 100% WI Barrett Horizontal Exploratory Location N O R T H D A K O T A S O U T H D A K O T A High potential Red River "B" zone Horizontal Exploration Trend 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA Grand River E Williston DRILLING SCHEDULE Barrett Acreage Oil Well Red River B Show Well Horizontal Well

Exploration Fairway Tri-State, DJ Basin Barrett Acreage Oil Field Gas Field Scale in Miles 0 12 Beecher Island EUR: 130 Bcfe Niobrara Celia 2,613 MBbls Pennsylvanian Goodland EUR: 13 Bcfe Niobrara Bonny EUR: 79 Bcfe Niobrara Republican EUR: 87 Bcfe Niobrara Cahoj 8,878 MBbls Pennsylvanian 369,253 Gross and 173,943 Net Undeveloped Acres (March 2005) Predominantly Fee (Year-round Drilling) Excellent access to pipeline infrastructure Explore applying horizontal technology In house 226 miles 2D Proprietary & 755 mile licensed 2D In house 24 sq. miles 3D Seismic 530 miles 2D Seismic planned 30 sq. miles 3D follow-up (dependent on 2D results) WY CO KS NE DJ Basin Tri-State Project Cherry Creek EUR: 15 Bcfe Niobrara Goodland St. Francis 3D outline E = Exploratory wells D = Development wells = Key information/results available 2D or 3D = seismic survey N E B R A S K A Burlington K A N S A S C O L O R A D O 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA Tri-State E 2D DJ 3D DRILLING SCHEDULE E

Denver, CO Powder River Basin Green River Basin Uinta Basin Piceance Basin Paradox Basin Williston Basin DJ Basin Wind River Basin San Juan Basin Rocky Mountain Basin Centered Gas Basin Centered Gas Gas Prone Area Oil Prone Area Big Horn Basin

Basin Centered Gas Project Big Horn Basin 96,082 Net Undeveloped Acres Long-term Acreage Prolific Hydrocarbon System Multiple "Giant" Fields Large Un-drilled Region Targeting Basin Centered Gas WYOMING Big Horn Basin SCALE 1 Township = 36 sq mi Area of Basin Centered Gas Play E = Exploratory wells D = Development wells = Key information/results available 2D or 3D = seismic survey 2005 2006 BASIN Q1 Q2 Q3 Q4 Q1 Q2 AREA Big Horn 2D 2D DRILLING SCHEDULE E

Rocky Mountains 35 61 1 18 6 1 7 2 36 3 10 8 Midcontinent Southwest Gulf Coast Northeast Source: Dept. of Energy, Energy Information Administration; Annual Energy Outlook 2005 Unconventional Gas: Challenges, Successes, and Future Outlook, Ted McCallister Coal Bed Methane Fractured Shale Tight Sandstone Cumulative Unconventional Gas Production Projections by Region 2003 - 2025 (Trillion Cubic Feet)

COLORADO INTERSTATE GAS OVERTHRUST SOUTHERN STAR KMI KERN RIVER NORTHWEST PIPELINE TRANS COLORADO LOST CREEK CHEYENNE PLAINS EXISTING PIPELINES WYOMING INTERSTATE TRAILBLAZER WILLISTON BASIN INTERSTATE FORT UNION THUNDER CREEK QUESTAR PENDING/PROPOSED EXPANSIONS WBI GRASSLANDS BISON KMI ADVANTAGE SS WESTERN FRONTIER ENBRIDGE BEACON NOTE: line thickness does not depict pipeline capacity, it is only graphic representation to show approximate pipeline location Rocky Mountain Pipelines OKLAHOMA ARIZONA NEW MEXICO POWDER GREEN Opal Cheyenne KANSAS SOUTH DAKOTA NEBRASKA MONTANA IDAHO COLORADO UTAH WYOMING CIG CIG Northwest CIG CIG KMI WY Questar Questar Northwest Trans Colorado Southern Star Interstate Kern River Williston Basin Interstate Williston Interstate Basin Fort Union Thunder Ck Lost Creek KMI CIG Cheyenne Plains UINTA/PICEANCE DJ/EASTERN CO WIND/BIG