Filed by El Paso Energy Corporation
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: El Paso Energy Corporation/The Coastal Corporation
Commission File No. 001-14365
Registration Statement No. 333-31060
The following are excerpts which address the El Paso Energy Corporation/
The Coastal Corporation merger, taken from a presentation by William A. Wise
given to Analysts at the Howard Weil conference held on April 3, 2000.
[LOGO] EL PASO ENERGY
William A. Wise
----------------------------
President and
Chief Executive Officer
Howard Weil Conference
- ---------------------------------------
April 3, 2000
<PAGE>
Cautionary Statement Regarding Forward-looking Statements
This presentation includes forward-looking statements and
projections, made in reliance on the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.
The companies have made every reasonable effort to ensure
that the information and assumptions on which these
statements and projections are based are current,
reasonable, and complete. However, a variety of factors
could cause actual results to differ materially from the
projections, anticipated results or other expectations
expressed in this presentation, including, without
limitation, oil and gas prices; general economic and weather
conditions in geographic regions or markets served by El
Paso Energy and Coastal and their affiliates, or where
operations of the companies and their affiliates are
located; inability to realize anticipated synergies and cost
savings on a timely basis; difficulty in integration of
operations; and competition. While the companies make these
statements and projections in good faith, neither company
nor its management can guarantee that the anticipated future
results will be achieved. Reference should be made to the
companies' (and their affiliates') Securities and Exchange
Commission filings for additional important factors that may
affect actual results.
<PAGE>
Investor Notice
Investors are urged to read the proxy statement/prospectus
which is included in the Registration Statement on Form
S-4 filed with the SEC on February 24, 2000 in connection
with the proposed merger because it will contain important
information. The proxy statement/prospectus is available
for free on the SEC's web site (www.sec.gov) and from
El Paso Energy Corporation's office of Investor Relations.
The merger between Coastal and El Paso is subject to
government approvals and is expected to close in the fourth
quarter of 2000.
In addition, the identity of the people who, under SEC
rules, may be considered "participants in the solicitation"
of El Paso Energy shareholders in connection with the
proposed merger, and a description of their interests, is
available in an SEC filing under Schedule 14A made by El
Paso Energy Corporation on January 18, 2000.
<PAGE>
Over $1 Billion in
Expansion Opportunities
- ---------------------------
[Graphic Map of United States]
El Paso Coastal
- ------- ------------
0 Power Plants o Power Plants
+ Attachment/Expansion == Pipelines
= Pipelines
<PAGE>
Managing for Value
- --------------------
El Paso Production Company
[Graphic Map of United States]
Production
- ----------
O El Paso
o Coastal
*2.9 Tcfe of proved developed
*2.2 Tcfe of PUD
*1.9 Tcfe of probables
*$500 MM of annual maintenance CAPEX
*$600 MM + of potential annual growth capital
<PAGE>
Stock Price Appreciation
- ------------------------
As of March 30, 2000
[Chart]
EPG S&P 500
12/31/1993 89.00% 15 .00%
12/31/1995 51.00% 52.00%
12/31/1997 250.00% 140.00%
12/31/1999 309.00% 264.00%
03/30/2000 336.00% 268.00%
