form u5s dated september 30, 2001

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.


FORM U5S

ANNUAL REPORT

For the Fiscal Year Ended September 30, 2001


Filed Pursuant to the

Public Utility Holding Company Act of 1935

by

National Fuel Gas Company

10 Lafayette Square, Buffalo, N.Y. 14203


NATIONAL FUEL GAS COMPANY

FORM U5S - ANNUAL REPORT
For the Fiscal Year Ended September 30, 2001


TABLE OF CONTENTS

                                                                          Page
                                                                          ----

ITEM  1.  SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF
          SEPTEMBER 30, 2001                                                3

ITEM  2.  ACQUISITIONS OR SALES OF UTILITY ASSETS                           8

ITEM  3.  ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF
          SYSTEM SECURITIES                                                 8

ITEM  4.  ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM
          SECURITIES                                                        9

ITEM  5.  INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES                 10

ITEM  6.  OFFICERS AND DIRECTORS
          Part   I.  Names, principal business address and
                     positions held as of September 30, 2001               11
          Part  II.  Financial connections as of September 30, 2001        15
          Part III.  Compensation and other related information            15

ITEM  7.  CONTRIBUTIONS AND PUBLIC RELATIONS                               21

ITEM  8.  SERVICE, SALES AND CONSTRUCTION CONTRACTS
          Part   I.  Intercompany sales and services
                     (1)  Salaries of officers of the Registrant           22
                     (2)  Services rendered by Statutory Subsidiaries      23
                     (3)  Services rendered by Registrant                  29
          Part  II.  Contracts to purchase services or goods
                     between any System company and any affiliate          30
          Part III.  Employment of any person by any System
                     company for the performance on a continuing
                     basis of management services                          30

ITEM  9.  WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES               30

ITEM 10.  FINANCIAL STATEMENTS AND EXHIBITS
          Financial Statements (Index)                                     35
          Exhibits                                                         87

SIGNATURE                                                                  98
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF SEPTEMBER 30, 2001

                           Number of Common  Percent of    Issuer    Owner's
Name of Company              Shares Owned   Voting Power Book Value Book Value
---------------            ---------------- ------------ ---------- ----------

Registrant:                                             (Thousands of Dollars)
National Fuel Gas Company
(Parent, Company or Registrant)          -            -           -          -

Statutory Subsidiaries:
 National Fuel Gas Distribution
  Corporation (Distribution
  Corporation) (Note 1)              2,000         100%    $512,400   $512,400
    Unsecured Debt (Note 9)              -            -    $373,600   $373,600

 National Fuel Gas Supply
  Corporation (Supply
  Corporation) (Note 2)          1,013,802         100%    $289,411   $289,411
    Unsecured Debt (Note 9)              -            -    $148,400   $148,400

 Seneca Resources Corporation
  (Seneca Resources) (Note 3)      100,000         100%    $ 81,744   $ 81,744
    Unsecured Debt (Note 9)              -            -    $911,900   $911,900
  National Fuel Exploration Corp.
   (NFE)                       115,000,000         100%    $(32,171)  $(32,171)
   Unsecured Debt (Note 9)               -            -    $253,005   $253,005
    National Fuel Exploration
     Acquisition Corp. (Note 3)        100         100%    $(75,231)  $(75,231)
      Player Resources, Ltd.
      (Note 3)                           -         100%    $(75,231)  $(75,231)
  Empire Exploration Company,
    Empire 1983 Drilling
    Program, Empire 1983
    Joint Venture (Note 10)            N/A         N/A     $    970   $    970

 Highland Forest Resources, Inc.
  (Highland) (Note 4)                4,500         100%    $  8,683   $  8,683
  Unsecured Debt (Note 9)                -            -    $ 62,900   $ 62,900

 Data-Track Account Services,
  Inc. (Data-Track) (Note 5)         1,000         100%    $    768   $    768

 Leidy Hub, Inc. (Leidy Hub)
  (Note 6)                           4,000         100%    $    730   $    730

 National Fuel Resources, Inc.
 (NFR) (Note 7)                     10,000         100%    $ 30,287   $ 30,287
   Unsecured Debt (Note 9)               -            -    $ 19,000   $ 19,000

 Horizon Energy Development, Inc.
  (Horizon) (Notes 8 and 11-12)      4,750         100%    $  8,855   $  8,855
    Unsecured Debt (Note 9)              -            -    $103,700   $103,700
  Sceptre Power Company *(Note 11)     N/A         100%    $  3,948   $  3,948
  Horizon Energy Holdings, Inc.
   (HEHI)(Note 12)                   2,000         100%    $112,492   $112,492
     Horizon Energy Development
      B.V. (HED B.V.)(Note 12)         400         100%    $112,492   $112,492
       Unsecured Debt (Note 9)           -            -    $    120   $    120
      United Energy, a.s. .
       (UE) (Note 12)            8,405,037       85.16%    $104,366   $112,819
        Unsecured Debt (Note 9)          -            -    $ 45,575   $ 45,575
       Teplarna Liberec, a.s.
        (TL) (Note 12)                  70          70%    $  9,181   $  8,187
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF SEPTEMBER 30, 2001 (Continued)

                           Number of Common  Percent of    Issuer    Owner's
Name of Company              Shares Owned   Voting Power Book Value Book Value
---------------            ---------------- ------------ ---------- ----------

Registrant:                                             (Thousands of Dollars)

       Lounske tepelne
        Hospodarstvi, s.r.o
        (LTH) (Note 12)                N/A         100%    $     53   $     53
       Teplo Branany, s.r.o. (TB)
        (Note 12)                      N/A          49%    $      1   $      1
       ENOP Company, s.r.o.
         (ENOP)(Note 12)               N/A         100%    $    142   $    242
      Horizon Energy Development,
       s.r.o. (HED) (Note 12)          N/A         100%    $  2,335   $  2,335
      Power Development, s.r.o.
       (PD) (Note 12)                  N/A         100%    $      2   $      2
       Teplarna Kromeriz a.s.
        (Kromeriz) (Note 12)           375         100%    $    (63)  $    (63)
         Unsecured Debt (Note 9)         -            -    $     82   $     82

 Upstate Energy Inc. (Upstate)
  (Note 13)                          1,000         100%    $   (215)  $   (215)
   Unsecured Debt (Note 9)               -            -    $  3,600   $  3,600

 Seneca Independence Pipeline
  Company (SIP) (Note 14)            1,000         100%    $    468   $    468
   Unsecured Debt (Note 9)               -            -    $ 13,200   $ 13,200

 Niagara Independence Marketing
  Company (NIM) (Note 15)            1,000         100%    $      1   $      1

 Horizon Power, Inc. (Power)
   (Note 16)                         1,000         100%    $  5,736   $  5,736
   Unsecured Debt (Note 9)               -            -    $ 12,200   $ 12,200
   Seneca Energy II, LLC
     (Seneca Energy)                   N/A          50%    (Note 16)  (Note 16)
   Model City Energy, LLC
     (Model City)                      N/A          50%    (Note 16)  (Note 16)
   Energy Systems North East, LLC
     (ESNE)                            N/A          50%    (Note 16)  (Note 16)
Notes:
  1. Distribution Corporation is a public utility that sells natural gas and provides gas transportation service in western New York and northwestern Pennsylvania.

  2. Supply Corporation is engaged in the transportation and storage of natural gas for affiliated and nonaffiliated companies.

  3. Seneca Resources is engaged in the exploration for, and the development and purchase of, natural gas and oil reserves in the Gulf Coast of Texas and Louisiana, and in California, Wyoming and in the Appalachian region of the United States. Also, exploration and production operations are conducted in the provinces of Manitoba, Alberta and Saskatchewan in Canada by Seneca's wholly-owned subsidiary, National Fuel Exploration Corp. (NFE), an Alberta, Canada corporation. NFE owns 100% of National Fuel Exploration Acquisition Corp., which owns 100% of Player Resources Ltd. (Player). National Fuel Acquisition Corp. has no operations other than serving as the holding company for the stock of Player. In addition, Seneca Resources is engaged in the marketing of timber from its Pennsylvania land holdings.

  4. Highland operates several sawmills and kilns in northwestern Pennsylvania and processes timber from north-central Pennsylvania, primarily high quality hardwoods.

ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF SEPTEMBER 30, 2001 (Continued)

  1. Data-Track provides collection services (principally issuing collection notices) primarily for the subsidiaries of the Company.

  2. Leidy Hub is a New York corporation formed to provide various natural gas hub services to customers in the eastern United States.

  3. NFR is engaged in the marketing and brokerage of natural gas and the performance of energy management services for industrial, commercial, public authority and residential end-users throughout the northeastern United States.

  4. Horizon was formed to engage in foreign and domestic energy projects through investment in various business entities (see Notes 11-12).

  5. Unsecured debt is presented on pages 6-7.

  6. In December 1983, Empire Exploration, Inc. (which was subsequently merged into Seneca Resources) established a drilling fund through a series of limited partnerships in which it acts as general partner (See File No. 70-6909). Empire Exploration, Inc.'s aggregate investment in all three limited partnerships amounted to $970,150.

  7. Horizon became one of the partners in Sceptre Power Company, a California general partnership, on September 15, 1995. This partnership was dissolved as of December 23, 1996 and is currently winding down operations.

  8. Horizon owns 100% of the capital stock of HEHI, a New York corporation which owns 100% of HED B.V. HED B.V. in turn owns 100% of the ownership interests of HED, PD and Kromeriz (all Czech corporations). HED B.V. owns 85.16% of United Energy, a.s. (UE). UE owns 100% of the ownership interests of ENOP and LTH, 70% of the ownership interest of TL and 49% of the ownership interest of TB. At the end of June 2001, UE sold its 65.78% interest in Jablonecka teplarenska a realitni, a.s. (JTR). All UE subsidiaries are Czech corporations or limited liability companies. HED B.V. and its subsidiaries are primarily engaged in district heating and power generation operations in the Czech Republic.

  9. Upstate is a New York corporation engaged in wholesale natural gas marketing and other energy-related activities.

  10. SIP, a Delaware corporation, holds a one-third general partnership interest in Independence Pipeline Company (Independence), a Delaware general partnership. Independence proposes to construct and operate the Independence Pipeline, a 400-mile interstate pipeline system which would transport natural gas from Defiance, Ohio to Leidy, Pennsylvania.

  11. NIM, a Delaware corporation, owns a one-third general partnership interest in DirectLink Gas Marketing Company, which partnership was formed to engage in natural gas marketing and related businesses, in part by subscribing for firm transportation capacity on the Independence Pipeline.

  12. Power is a New York corporation designated as an "exempt wholesale generator" under the Public Utility Holding Company Act of 1935 and is developing or operating, through its subsidiaries, mid-range independent power production facilities.
    Power owns a 50% limited liability company interest in each of Seneca Energy II, LLC, a New York limited liability company formed in February 2000 (Seneca Energy), Model City Energy, LLC, a New York limited liability company formed in February 2000 (Model City), and Energy Systems North East, LLC, a Delaware limited liability company formed in September 2000 (ESNE). "Issuer Book Value" and "Owner's Book Value" for Seneca Energy, Model City and ESNE are filed pursuant to Rule 104(b).

ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF SEPTEMBER 30, 2001 (Continued)

Note (9) Unsecured Debt
                                                Principal    Issuer      Owner's
Name of Company                                  Amount       Book        Book
   (Issuer)      Security Owned by Registrant     Owed        Value       Value
---------------  ----------------------------  ----------   ----------  ------------
                                                    (Thousands of Dollars)
                                               -------------------------------------
Distribution
 Corporation     Intercompany Notes:
                   7.48% Due February 18, 2003   $ 50,000     $ 50,000    $ 50,000
                   7.99% Due February 1, 2004     100,000      100,000     100,000
                   7.46% Due March 30, 2023        49,000       49,000      49,000
                   8.55% Due July 15, 2024         20,000       20,000      20,000
                   7.50% Due June 13, 2025         50,000       50,000      50,000
                   6.26% Due August 12, 2027       30,000       30,000      30,000
                   3.25% System Money Pool(1)      74,600       74,600      74,600
                                               ----------   ----------  ----------
                                                  373,600      373,600     373,600
                                               ----------   ----------  ----------
Supply
 Corporation     Intercompany Notes:
                   7.99% Due February 1, 2004      25,000       25,000      25,000
                   6.95% Due August 1, 2004        50,000       50,000      50,000
                   8.55% Due July 15, 2024         30,000       30,000      30,000
                   6.26% Due August 12, 2027       10,000       10,000      10,000
                   3.25% System Money Pool(1)      33,400       33,400      33,400
                                               ----------   ----------  ----------
                                                  148,400      148,400     148,400
                                               ----------   ----------  ----------
Seneca
 Resources       Intercompany Notes:
                   7.48% Due February 18,2003     100,000      100,000     100,000
                   6.95% Due August 1, 2004        50,000       50,000      50,000
                   6.39% Due May 27, 2008         120,000      120,000     120,000
                   6.18% Due March 1, 2009        100,000      100,000     100,000
                   7.70% Due October 22, 2010     200,000      200,000     200,000
                   6.26% Due August 12, 2027       50,000       50,000      50,000
                   3.25% System Money Pool(1)     291,900      291,900     291,900
                                               ----------   ----------  ----------
                                                  911,900      911,900     911,900
                                               ----------   ----------  ----------

NFE                3.25% Line of Credit           253,005      253,005     253,005
                   3.98% Short-Term Bank Loan      15,675       15,675      15,675
                                               ----------   ----------  ----------
                                                  268,680      268,680     268,680
                                               ----------   ----------  ----------

Highland           3.25% System Money Pool(1)      62,900       62,900      62,900
                                               ----------   ----------  ----------

Horizon          Intercompany Notes:
                   6.26% Due August 12, 2027       10,000       10,000      10,000
                   6.39% Due May 27, 2008          80,000       80,000      80,000
                   3.66% Line of credit(2)         13,700       13,700      13,700
                                               ----------   ----------  ----------
                                                  103,700      103,700     103,700
                                               ----------   ----------  ----------

Horizon Energy
 Development
 B.V. (HED B.V.)   3.66% Line of Credit(2)            120          120         120
                                               ----------   ----------  ----------

UE                 5.85%(3) Payable Quarterly
                    Through June 2006               2,283        2,283       2,283
                   5.55% Short-Term Bank Loan      10,392       10,392      10,392
                   5.56% Short-Term Bank Loan         588          588         588
                   5.40% Short-Term Bank Loan       3,118        3,118       3,118
                   5.535% (4) Payable March 2001-
                    December 2004                  15,765       15,765      15,765
                   6.35% Payable July 2001-
                    September 2006                 13,429       13,429      13,429
                                               ----------   ----------  ----------
                                                   45,575       45,575      45,575
                                               ----------   ----------  ----------
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF SEPTEMBER 30, 2001 (Concluded)

Note (10) Unsecured Debt
                                                Principal    Issuer      Owner's
Name of Company                                  Amount       Book        Book
   (Issuer)      Security Owned by Registrant     Owed        Value       Value
---------------  ----------------------------  ----------   ----------  -----------
                                                    (Thousands of Dollars)
                                               ------------------------------------


Kromeriz           8.0% Intercompany Note              82           82          82
                                               ----------   ----------  ----------

Upstate            3.25% System Money Pool(1)       3,600        3,600       3,600
                                               ----------   ----------  ----------

SIP                3.25% System Money Pool(1)      13,200       13,200      13,200
                                               ----------   ----------  ----------

NFR                3.25% System Money Pool (1)     19,000       19,000      19,000
                                               ----------   ----------  ----------

Horizon
 Power Inc.        3.60% Line of Credit(2)         12,200       12,200      12,200
                                               ----------   ----------  ----------

                                               $1,962,957   $1,962,957  $1,962,957
                                               ==========   ==========  ==========

  1. Interest rate represents weighted average of all short-term securities outstanding at September 30, 2001, pursuant to System money pool arrangement, S.E.C. File No. 70-8297 (Release Nos. 25964, 26076 and 26196).

  2. Interest rate represents the rate paid by respective subsidiaries on line of credit amounts outstanding at September 30, 2001.

  3. Interest rate is six month PRIBOR (Prague Interbank Offered Rate) plus 0.5%.

  4. Interest rate per the debt agreement is six month PRIBOR (Prague Interbank Offered Rate) plus 0.475%. However, under the terms of an interest rate swap, which extends until June 2002, UE pays a fixed rate of 8.31% and receives a floating rate of six month PRIBOR.
ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS

      None during fiscal year ended September 30, 2001.

ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES
  1. Name of Issuer: Horizon Energy Development, Inc.
    Description of Security: Line of Credit Agreement with maximum draw of $40,000,000
    Effective Average Interest Rate: 5.48%
    Name of Person to Whom Issued: National Fuel Gas Company
    End of Year Balance: $13,700,000
    Highest Balance During Year: $13,700,000
    Exemption: Rule 52

  2. Name of Issuer: National Fuel Exploration Corp.
    Description of Security: Line of Credit Agreement with maximum draw of $260,000,000
    Effective Average Interest Rate: 5.25%
    Name of Person to Whom Issued: Seneca Resources Corporation
    End of Year Balance: $253,005,372
    Highest Balance During Year: $253,005,372
    Exemption: Rule 52

  3. Name of Issuer: Horizon Energy Development B.V.
    Description of Security: Line of Credit Agreement with maximum draw of $150,000
    Effective Average Interest Rate: 4.6%
    Name of Person to Whom Issued: Horizon Energy Development, Inc.
    End of Year Balance: $120,000
    Highest Balance During Year: $120,000
    Exemption: Rule 52

  4. Name of Issuer: Horizon Power, Inc.
    Description of Security: Line of Credit Agreement with maximum draw of $20,000,000
    Effective Average Interest Rate: 4.166%
    Name of Person to Whom Issued: National Fuel Gas Company
    End of Year Balance: $12,200,000
    Highest Balance During Year: $12,200,000
    Exemption: Rule 52

  5. Item 9, Part I(b) for Energy Systems North East, LLC (ESNE) includes a description of notes issued by ESNE, an exempt wholesale generator.
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES
              FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                       Name of
                                       Company
                                      Acquiring,
                                      Redeeming         Number of Shares or
                                     or Retiring          Principal Amount                       Commission
                                                    ----------------------------
Name of Issuer and Title of Issue     Securities    Acquired  Redeemed   Retired Consideration  Authorization
---------------------------------    -----------    --------  --------   ------- -------------  -------------
                                                              (Thousands of Dollars)
                                                    ------------------------------------
Registered Holding Company:

    Registrant:

     7.50% Note due
      November 22, 2010                  Registrant   200,000                                   File No. 70-9153


Subsidiaries of Registered Holding Company:

    Seneca Resources:
     7.70% Note maturing                 Seneca
      November 22, 2010                  Resources    200,000                       200,000     File No. 70-9153


ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES
                             Number of                              Aggregate
1. Name of Owner             Persons      Business of Persons      Investment
   -------------            ---------     -------------------      ----------
None.

ITEM 6. OFFICERS AND DIRECTORS

Part I. Names, principal business address and positions held as of September 30, 2001



                                        Names of System Companies with Which Connected
                                        ------------------------------------------------------------------------
                                                             National       National               Highland
                                                             Fuel Gas       Fuel Gas     Seneca     Forest
                                                           Distribution      Supply     Resources  Resources
                                           Registrant          Corp.          Corp.       Corp.*     Inc.
                                       -------------------------------------------------------------------------
B. J. Kennedy          Buffalo, NY (1) | D, COB, CEO, s |      D, COB, s |  D, COB, s | D, COB, s |       s |
-------------------------------------------------------------------------------------------------------------
B. S. Lee          Des Plaines, IL (2) |          D, df |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
G. L. Mazanec          Houston, TX (3) |          D, df |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
J. F. Riordan      Des Plaines, IL (17)|          D, df |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
E. T. Mann             Buffalo, NY (1) |          D, df |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
R. T. Brady            Buffalo, NY (4) |          D, df |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
W. J. Hill             Buffalo, NY (1) |          D, df |              D |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
J. V. Glynn      Niagara Falls, NY (9) |          D, df |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
P. C. Ackerman         Buffalo, NY (1) |        D, P, s |           D, s |     EVP, s |      D, s |    D, s |
-------------------------------------------------------------------------------------------------------------
J. R. Peterson         Buffalo, NY (1) |          AS, s |              - |      GC, s |         - |       - |
-------------------------------------------------------------------------------------------------------------
J. A. Beck             Houston, TX (5) |              - |              - |          - |   D, P, s |    P, D |
-------------------------------------------------------------------------------------------------------------
W. M. Petmecky         Houston, TX (5) |              - |              - |          - | SVP, S, s |       S |
-------------------------------------------------------------------------------------------------------------
D. A. Brown            Houston, TX (5) |              - |              - |          - |     VP, s |       - |
-------------------------------------------------------------------------------------------------------------
G. E. Klefstad         Houston, TX (5) |              - |              - |          - |     VP, s |       - |
-------------------------------------------------------------------------------------------------------------
E. E. Wassell          Houston, TX (5) |              - |              - |          - |     VP, s |       - |
-------------------------------------------------------------------------------------------------------------
J. F. McKnight         Houston, TX (5) |              - |              - |          - |     VP, s |       - |
-------------------------------------------------------------------------------------------------------------
B. L. McMahon      Santa Paula, CA (6) |              - |              - |          - |    SVP, s |       - |
-------------------------------------------------------------------------------------------------------------
A. M. Cellino          Buffalo, NY (1) |           S, s |      SVP, S, s |          s |         - |       - |
-------------------------------------------------------------------------------------------------------------
P. M. Ciprich          Buffalo, NY (1) |              - |      AS, GC, s |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
W. E. DeForest         Buffalo, NY (1) |              - |      SVP, D, s |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
B. H. Hale             Buffalo, NY (1) |              - |              - |  D, SVP, s |         - |       - |
-------------------------------------------------------------------------------------------------------------
J. P. Pawlowski        Buffalo, NY (1) |           T, s |   D, SVP, T, s |    T, S, s |         s |       s |
-------------------------------------------------------------------------------------------------------------
J. R. Pustulka         Buffalo, NY (1) |              - |              s |     SVP, s |         s |       - |
-------------------------------------------------------------------------------------------------------------
J. D. Ramsdell         Buffalo, NY (1) |              - |         SVP, s |          s |         s |       - |
-------------------------------------------------------------------------------------------------------------
W. A. Ross             Buffalo, NY (1) |              - |              - |   D, VP, s |         - |       - |
-------------------------------------------------------------------------------------------------------------
D. J. Seeley           Buffalo, NY (1) |              - |         SVP, s |    P, D, s |         - |       - |
-------------------------------------------------------------------------------------------------------------
D. F. Smith            Buffalo, NY (1) |              - |        P, D, s |     SVP, s |         D |       - |
-------------------------------------------------------------------------------------------------------------
R. J. Tanski           Buffalo, NY (1) |              - |      SVP, C, s |          s |         s |       s |
-------------------------------------------------------------------------------------------------------------
G. T. Wehrlin          Buffalo, NY (1) |           C, s |              - |          - |         C |       - |
-------------------------------------------------------------------------------------------------------------
C. M. Carlotti            Erie, PA (16)|              - |          VP, s |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
R. T. Evans            Houston, TX (5) |              - |              - |          - |     VP, s |       - |
-------------------------------------------------------------------------------------------------------------
T. L. Atkins           Houston, TX (5) |              - |              - |          - |  T, AS, s |       T |
-------------------------------------------------------------------------------------------------------------
D. L. DeCarolis  Williamsville, NY (12)|              - |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
J. F. Kronenwetter     Buffalo, NY (1) |              - |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
R. E. Klein            Buffalo, NY (1) |              - |          AC, s |          s |         s |       s |
-------------------------------------------------------------------------------------------------------------
S. Wagner              Buffalo, NY (1) |              s |          AT, s |          s |         s |       s |
-------------------------------------------------------------------------------------------------------------
B. Heine               Buffalo, NY (1) |              - |         AVP, s |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
J. Lesch               Buffalo, NY (18)|              - |         AVP, s |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
D. Wassum              Buffalo, NY (1) |              - |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------
R. C. Kraemer          Buffalo, NY (1) |              - |              - |          - |         - |       - |
-------------------------------------------------------------------------------------------------------------


                                      Position Symbol Key
              ------------------------------------------------------------------------
              COB - Chairman of the Board of Directors   S - Secretary
              CEO - Chief Executive Officer             AS - Assistant Secretary
                P - President                            C - Controller
              EVP - Executive Vice President            AC - Assistant Controller
              SVP - Senior Vice President                D - Director
               VP - Vice President                       s - Salary
              AVP - Assistant Vice President             T - Treasurer
               GC - General Counsel                     AT - Assistant Treasurer
               df - Director's Fees

See page 14 for Notes.











  Data-
  Track      National     Horizon                             Niagara     Seneca
  Account      Fuel       Energy                  Upstate      Indep.     Indep.     Horizon
 Services,  Resources,  Development,  Leidy Hub,   Energy    Marketing   Pipeline     Power
   Inc.        Inc.        Inc.**        Inc.       Inc.        Co.         Co.      Inc.***
----------------------------------------------------------------------------------------------
        s |         s |           s |         D |        - |     D, COB |    D, COB |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
     D, P |         - |     P, D, s |         - |        - |          - |         - |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |        - |          - |         s |      - |
----------------------------------------------------------------------------------------------
        - |         - |           - |         - |     P, D |       D, P |         - |      - |
----------------------------------------------------------------------------------------------
     S, T |      S, T |           - |         - |     D, S |          S |         - |   S, T |
----------------------------------------------------------------------------------------------
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        - |         - |           - |   D, P, s |        - |          - |   P, S, T |      - |
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        - |         s |     T, S, s |         - |        - |          - |         - |      - |
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        D |   P, D, s |       VP, s |   D, S, T |        - |          - |         - |      D |
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        - |         - |           - |         - |        - |          - |         - |      - |
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        - |         - |           - |         - |        T |          T |         - |      - |
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        - |         - |      AVP, s |         - |        - |          - |         - |      - |
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        - |         - |      AVP, s |         - |        - |          - |         - |      - |
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        - |         - |      AVP, s |         - |        - |          - |         - |      - |
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 * Officers and directors of Seneca Resources' subsidiaries as of September 30,
   2001 were as follows:

National Fuel Exploration Corp.
Board of Directors and Officers:
 B. J. Kennedy (Director and Chairman)                        Buffalo, NY (1)
 J. B. McCashin (President)                                   Calgary, Alberta (19)
 D. Conrad (Secretary)                                        Calgary, Alberta (19)
 W. M. Petmecky (Assistant Secretary)                         Houston, TX (5)
 G. W. Burns (Director)                                       Calgary, Alberta (19)
 D. R. Goruk (Director)                                       Calgary, Alberta (19)

NFEx Acquisition Corp.
Board of Directors and Officers:
 B. J. Kennedy (Director and Chairman)                        Buffalo, NY (1)
 P. C. Ackerman (Director)                                    Buffalo, NY (1)
 J. B. McCashin (Director and President)                      Calgary, Alberta (19)
 D. R. Goruk (Director)                                       Calgary, Alberta (19)
 W. M. Petmecky (Assistant Secretary)                         Houston, TX (5)
 D. Conrad (Secretary)                                        Calgary, Alberta (19)

Player Resources Ltd.
Board of Directors and Officers:
 P. C. Ackerman (Director)                                    Buffalo, NY (1)
 J. A. Beck (Director)                                        Houston, TX (5)
 J. B. McCashin ((President and Director)                     Calgary, Alberta (19)
 D. R. Goruk (Director)                                       Calgary, Alberta (19)
 D. Conrad (Secretary)                                        Calgary, Alberta (19)
 W. Dummer (Controller)                                       Calgary, Alberta (19)

** Officers and directors of Horizon's subsidiaries as of September 30, 2001
   were as follows:

Horizon Energy Holdings, Inc.
Board of Directors and Officers:
 P. C. Ackerman (Director and President)                      Buffalo, NY (1)
 B. H. Hale (Vice President)                                  Buffalo, NY (1)
 G. T. Wehrlin (Vice President)                               Buffalo, NY (1)
 R. J. Tanski (Secretary and Treasurer)                       Buffalo, NY (1)

Horizon Energy Development, B.V.
Managing Directors:
 B. H. Hale                                                   Buffalo, NY (1)
 G. T. Wehrlin                                                Buffalo, NY (1)
 Intra Beheer B.V.                                            Amsterdam, The Netherlands (8)

Horizon Energy Development, s.r.o.
Managing Director:
 B. H. Hale                                                   Buffalo, NY (1)
Statutory Agents:
 L. Jarolimek                                                 Prague, Czech Republic (7)
 A. Novak                                                     Prague, Czech Republic (7)

Power Development, s.r.o. (in liquidation as of January 19, 2001)
Liquidator
 P. Ferenc                                                    Prague, Czech Republic (11)
Statutory Agents:
 L. Jarolimek                                                 Prague, Czech Republic (7)
 A. Novak                                                     Prague, Czech Republic (7)

Teplarna Kromeriz, a.s. (in liquidation as of November 15, 2001)
Board of Directors:
 J. Drabek                                                    (14)
Liquidator:
 JUDr. Krejci                                                 (13)


See page 14 for Notes






Teplarna Liberec, a.s.
Board of Directors:
 J. Drda                                                      Liberec, Czech Republic (21)
 L. Jarolimek                                                 Prague, Czech Republic (7)
 J. Jezek                                                     Liberec, Czech Republic (20)
 Z. Kozesnik                                                  Liberec, Czech Republic (10)
 J. Masinda                                                   Prague, Czech Republic (7)
 L. Zapletal                                                  Most, Czech Republic (14)

Lounske tepelne hospodarstvi, s.r.o.
Statutory Agents:
 R. Jiruska                                                   Bilina, Czech Republic (14)

Teplo Branany, s.r.o.
Managing Directors:
 R. Jiruska                                                   Bilina, Czech Republic (14)
 V. Krupka                                                    Branany, Czech Republic (15)

United Energy, a.s.
Board of Directors:
 L. Jarolimek                                                 Prague, Czech Republic (7)
 L. Zapletal                                                  Most, Czech Republic (14)
 B. H. Hale                                                   Buffalo, NY (1)
 G. T. Wehrlin                                                Buffalo, NY (1)
 P. C. Ackerman                                               Buffalo, NY (1)
 B. J. Kennedy                                                Buffalo, NY (1)
 R. J. Tanski                                                 Buffalo, NY (1)
 J. Sulc                                                      Most, Czech Republic (22)
 E. Volkman                                                   Louny, Czech Republic (23)
 J. Nechvatal                                                 Most, Czech Republic (14)
 J. Masinda                                                   Prague, Czech Republic (7)

ENOP Company, s.r.o.
Statutory Agents:
 R. Kocar                                                     Most, Czech Republic (14)
 K. Stejskal                                                  Most, Czech Republic (14)
 J. Stepanek                                                  Most, Czech Republic (14)

*** Officers of Power's subsidiaries as of September 30, 2001 included the following
    persons (because Power's subsidiaries are not wholly owned directly or
    indirectly by the Registrant or any system company, disclosure is limited to
    those officers who are directly employed by the Registrant or its system
    companies):

Seneca Energy II, LLC
 B. H. Hale (Secretary and Chief Financial Officer)           Buffalo, NY (1)

Model City Energy, LLC
 B. H. Hale (Chief Financial Officer)                         Buffalo, NY (1)

Energy Systems North East, LLC
 B. H. Hale (President)                                       Buffalo, NY (1)
 K. D. Cotter (Vice President)                                Buffalo, NY (1)
 P. L. Malachowski (Treasurer)                                Buffalo, NY (1)

Notes
  1. National Fuel Gas Company, 10 Lafayette Square, Buffalo, New York 14203
  2. Institute of Gas Technology, 1700 So. Mt. Prospect Road, DesPlaines, IL 60018-1804
  3. Duke Energy Corporation, P.O. Box 1642, Houston, TX 77251-1642
  4. Moog Inc., Plant 24/Seneca at Jamison Rd., East Aurora, NY 14052-0018
  5. Seneca Resources Corporation, 1201 Louisiana Street, Suite 400, Houston, Texas 77002
  6. Seneca Resources Corporation, P.O. Box 630, Santa Paula, CA 93061-0630
  7. Horizon Energy Development, s.r.o., Maiselova 15, Praha 1 - Josefov, 11000, Czech Republic
  8. Intra Beheer B.V., Leidseplein 29, 1017 PS, Amsterdam, The Netherlands
  9. Maid of the Mist Corporation, 151 Buffalo Avenue, Niagara Falls, New York 14303
  10. Teplarna Liberec, a.s., Dr. Milady Horakove 641/34a, 460 01 Liberec 4, Czech Republic
  11. Predicor, Tax advisor, Pristavni 2, 170 00 Prague 7, Czech Republic
  12. National Fuel Resources, Inc., 165 Lawrence Bell Drive, Williamsville, NY 14221
  13. Law Office Rasovsky, Krejci, Cinglos, Spitalka 23 b, 602 00 Brno, Czech Republic
  14. United Energy, a.s., Teplarenska no. 2, Komorany, 434 03 Most 3, Czech Republic
  15. Teplo Branany, s.r.o., Bilinska 76 Branany, Czech Republic
  16. National Fuel Gas Company, 1100 State Street, Erie, PA 16501
  17. Gas Technology Institute, 1700 So. Mt. Prospect Road, Des Plaines, IL 60018-1804
  18. National Fuel Gas Distribution Corporation, 365 Mineral Springs Road, Building 3, Buffalo, NY 14210
  19. National Fuel Exploration Corp., 1000, 550-6th Avenue, S.W., Calgary, Alberta T2P 0S2
  20. City of Liberec, nam. Dr. E. Benese 1, 460 59 Liberec 1, Czech Republic
  21. Parliament of the Czech Republic, Snemovni 4, 118 26 Prague 1, Czech Republic
  22. President of Usti Region, Velka Hradebni 48, 400 01 Usti nad Labem, Czech Republic
  23. City of Louny, Mirove namesti 35, 440 33 Louny, Czech Republic

Item 6. OFFICERS AND DIRECTORS (Continued)

Part II. Financial connections as of September 30, 2001:


                                                 Position Held     Applicable
Name of Officer        Name and Location of      in Financial      Exemption
  or Director          Financial Institution      Institution         Rule
---------------        ---------------------     -------------     -------------

R. T. Brady           Manufacturers and Traders
                       Trust Company,
                       Buffalo, New York           Director          70 (a)
                      M&T Bank Corporation,
                       Buffalo, New York           Director          70 (a)

G. L. Mazanec         Northern Trust Bank
                       of Texas,
                       Dallas, Texas               Director          70 (a)

J. V. Glynn           Manufacturers and Traders
                       Trust Company,
                       Buffalo, New York           Director          70 (a)
                      M&T Bank Corporation,
                       Buffalo, New York           Director          70 (a)

Part III. Compensation and other related information:
  1. Compensation of Directors and Executive Officers:

         The information required by this item appears under "Directors' Compensation," and "Executive Compensation," on pages 6 to 7, and pages 10 to 18, respectively, of the National Fuel Gas Company Proxy Statement, dated January 10, 2002, included as Exhibit A (3) to this Form U5S and is incorporated herein by reference.

  2. Interest of executive officers and directors in securities of System Companies including options or other rights to acquire securities:

         The information required by this item appears under "Security Ownership of Certain Beneficial Owners and Management," on pages 8 and 9 of the National Fuel Gas Company Proxy Statement, dated January 10, 2002, included as Exhibit A(3) of this Form U5S and is incorporated herein by reference.

  3. Contracts and Transactions with System Companies:

         The following contracts and transactions with the directors and executive officers of National Fuel Gas Company were disclosed in the Company's Form 10-K or Form 10-K/A for fiscal year 2001.

    • Retirement and Consulting Agreement, dated September 5, 2001, between the Company and Bernard J. Kennedy (Exhibit 10 (iii)(a), Form 8-K dated September 19, 2001 in File No. 1-3880)

    • Pension Settlement Agreement, dated September 5, 2001, between the Company and Bernard J. Kennedy (Exhibit 10(iii)(b), Form 8-K dated September 19, 2001 in File No. 1-3880)

    • Employment Agreement, dated September 17, 1981, with Bernard J. Kennedy (Exhibit 10.4, Form 10-K for fiscal year ended September 30, 1994 in File No. 1-3880)

    • Tenth Amendment to Employment Agreement with Bernard J. Kennedy, effective September 1, 1999 (Exhibit 10.1, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    Item 6. OFFICERS AND DIRECTORS (Continued)

    • Agreement dated August 1, 1986, with Joseph P. Pawlowski (Exhibit 10.1, Form 10-K for fiscal year ended September 30,1997 in File No. 1-3880)

    • Agreement dated August 1, 1986, with Gerald T. Wehrlin (Exhibit 10.2, Form 10-K for fiscal year ended September 30, 1997, in File No. 1-3880)

    • Form of Employment Continuation and Noncompetition Agreements, dated as of December 11, 1998, with Philip C. Ackerman, Walter E. DeForest, Joseph P. Pawlowski, Dennis J. Seeley, David F. Smith and Gerald T. Wehrlin (Exhibit 10.1, Form 10-Q for the quarterly period ended June 30, 1999 in File No. 1-3880)

    • Severance Agreement, Release and Waiver dated March 27, 2000, between National Fuel Gas Supply Corporation and Richard Hare (Exhibit 10.2, Form 10-Q for the quarterly period ended March 31, 2000 in File No. 1-3880)

    • Form of Employment Continuation and Noncompetition Agreement, dated as of December 11, 1998, with James A. Beck (Exhibit 10.3, Form 10-Q for the quarterly period ended June 30, 1999 in File No. 1-3880)

    • National Fuel Gas Company 1983 Incentive Stock Option Plan, as amended and restated through February 18, 1993 (Exhibit 10.2, Form 10-Q for the quarterly period ended March 31, 1993 in File No. 1-3880)

    • National Fuel Gas Company 1984 Stock Plan, as amended and restated through February 18, 1993 (Exhibit 10.3, Form 10-Q for the quarterly period ended March 31, 1993 in File No. 1-3880)

    • Amendment to the National Fuel Gas Company 1984 Stock Plan, dated December 11, 1996 (Exhibit 10.7, Form 10-K for fiscal year ended September 30, 1996 in File No. 1-3880)

    • National Fuel Gas Company 1993 Award and Option Plan, dated February 18, 1993 (Exhibit 10.1, Form 10-Q for the quarterly period ended March 31, 1993 in File No. 1-3880)

    • Amendment to National Fuel Gas Company 1993 Award and Option Plan, dated October 27, 1995 (Exhibit 10.8, Form 10-K for fiscal year ended September 30, 1995 in File No. 1-3880)

    • Amendment to National Fuel Gas Company 1993 Award and Option Plan, dated December 11, 1996 (Exhibit 10.8, Form 10-K for fiscal year ended September 30, 1996 in File No. 1-3880)

    • Amendment to National Fuel Gas Company 1993 Award and Option Plan, dated December 18, 1996 (Exhibit 10, Form 10-Q for the quarterly period ended December 31, 1996 in File No. 1-3880)

    • National Fuel Gas Company 1993 Award and Option Plan, amended through June 14, 2001 (Exhibit 10.1, Form 10-K for fiscal year ended September 30, 2001 in File No. 1-3880)

    • National Fuel Gas Company 1997 Award and Option Plan, amended through June 14, 2001 (Exhibit 10.2, Form 10-K for fiscal year ended September 30, 2001 in File No. 1-3880)

    • National Fuel Gas Company Deferred Compensation Plan, as amended and restated through May 1, 1994 (Exhibit 10.7, Form 10-K for fiscal year ended September 30, 1994 in File No. 1-3880)

    Item 6. OFFICERS AND DIRECTORS (Continued)

    • Amendment to the National Fuel Gas Company Deferred Compensation Plan, dated September 19, 1996 (Exhibit 10.10, Form 10-K for fiscal year ended September 30, 1996 in File No. 1-3880)

    • Amendment to the National Fuel Gas Company Deferred Compensation Plan, dated September 27, 1995 (Exhibit 10.9, Form 10-K for fiscal year ended September 30, 1995 in File No. 1-3880)

    • National Fuel Gas Company Deferred Compensation Plan, as amended and restated through March 20, 1997 (Exhibit 10.3, Form 10-K for fiscal year ended September 30, 1997 in File No. 1-3880)

    • Amendment to National Fuel Gas Company Deferred Compensation Plan dated June 16, 1997 (Exhibit 10.4, Form 10-K for fiscal year ended September 30, 1997 in File No. 1-3880)

    • Amendment No. 2 to the National Fuel Gas Company Deferred Compensation Plan, dated March 13, 1998 (Exhibit 10.1, Form 10-K for fiscal year ended September 30, 1998 in File No. 1-3880)

    • Amendment to the National Fuel Gas Company Deferred Compensation Plan, dated February 18, 1999 (Exhibit 10.1, Form 10-Q for the quarterly period ended March 31, 1999 in File No. 1-3880)

    • Amendment to National Fuel Gas Company Deferred Compensation Plan, dated June 15, 2001 (Exhibit 10.3, Form 10-K for fiscal year ended September 30, 2001 in File No. 1-3880)

    • National Fuel Gas Company Tophat Plan, effective March 20, 1997 (Exhibit 10, Form 10-Q for the quarterly period ended June 30, 1997 in File No. 1-3880)

    • Amendment No. 1 to the National Fuel Gas Company Tophat Plan, dated April 6, 1998 (Exhibit 10.2, Form 10-K for fiscal year ended September 30, 1998 in File No. 1-3880)

    • Amendment No. 2 to the National Fuel Gas Company Tophat Plan, dated December 10, 1998 (Exhibit 10.1, Form 10-Q for the quarterly period ended December 31, 1998 in File No. 1-3880)

    • Death Benefits Agreement, dated August 28, 1991, with Bernard J. Kennedy (Exhibit 10-TT, Form 10-K for fiscal year ended September 30, 1991 in File No. 1-3880)

    • Amendment to Death Benefit Agreement of August 28, 1991, with Bernard J. Kennedy, dated March 15, 1994 (Exhibit 10.11, Form 10-K for fiscal year ended September 30, 1995 in File No. 1-3880)

    • Amended and Restated Split Dollar Insurance Agreement, effective June 15, 2000 among National Fuel Gas Company, Bernard J. Kennedy, and Joseph B. Kennedy, as Trustee of the Trust under the Agreement dated January 9, 1998 (Exhibit 10.1, Form 10-Q for the quarterly period ended June 30, 2000 in File No. 1-3880)

    • Contingent Benefit Agreement effective June 15, 2000 between National Fuel Gas Company and Bernard J. Kennedy (Exhibit 10.2, Form 10-Q for the quarterly period ended June 30, 2000 in File No. 1-3880)

    • Amended and Restated Split Dollar Insurance and Death Benefit Agreement dated September 17, 1997 with Philip C. Ackerman (Exhibit 10.5, Form 10-K for fiscal year ended September 30, 1997 in File No. 1-3880)

    Item 6. OFFICERS AND DIRECTORS (Continued)

    • Amendment Number 1 to Amended and Restated Split Dollar Insurance and Death Benefit Agreement by and Between National Fuel Gas Company and Philip C. Ackerman, dated March 23, 1999 (Exhibit 10.3, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amended and Restated Split Dollar Insurance and Death Benefit Agreement dated September 15, 1997 with Joseph P. Pawlowski (Exhibit 10.7, Form 10-K for fiscal year ended September 30, 1997 in File No. 1-3880)

    • Amendment Number 1 to Amended and Restated Split Dollar Insurance and Death Benefit Agreement by and Between National Fuel Gas Company and Joseph P. Pawlowski, dated March 23, 1999 (Exhibit 10.5, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Second Amended and Restated Split Dollar Insurance Agreement dated June 15, 1999 with Gerald T. Wehrlin (Exhibit 10.6, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amended and Restated Split Dollar Insurance and Death Benefit Agreement dated September 15, 1997 with Walter E. DeForest (Exhibit 10.7, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amendment Number 1 to Amended and Restated Split Dollar Insurance and Death Benefit Agreement by and Between National Fuel Gas Company and Walter E. DeForest, dated March 29, 1999 (Exhibit 10.8, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amended and Restated Split Dollar Insurance and Death Benefit Agreement dated September 15, 1997 with Dennis J. Seeley (Exhibit 10.9, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amendment Number 1 to Amended and Restated Split Dollar Insurance and Death Benefit Agreement by and Between National Fuel Gas Company and Dennis J. Seeley, dated March 29, 1999 (Exhibit 10.10, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Split Dollar Insurance and Death Benefit Agreement dated September 15, 1997 with Bruce H. Hale (Exhibit 10.11, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amendment Number 1 to Split Dollar Insurance and Death Benefit Agreement by and Between National Fuel Gas Company and Bruce H. Hale, dated March 29, 1999 (Exhibit 10.12, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Split Dollar Insurance and Death Benefit Agreement dated September 15, 1997 with David F. Smith (Exhibit 10.13, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amendment Number 1 to Split Dollar Insurance and Death Benefit Agreement by and Between National Fuel Gas Company and David F. Smith, dated March 29, 1999 (Exhibit 10.14, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • National Fuel Gas Company and Participating Subsidiaries Executive Retirement Plan as amended and restated through November 1, 1995 (Exhibit 10.10, Form 10-K for fiscal year ended September 30, 1995 in File No. 1-3880)

    Item 6. OFFICERS AND DIRECTORS (Continued)

    • National Fuel Gas Company and Participating Subsidiaries 1996 Executive Retirement Plan Trust Agreement (II) dated May 10, 1996 (Exhibit 10.13, Form 10-K for fiscal year ended September 30, 1996 in File No. 1-3880)

    • Amendments to National Fuel Gas Company and Participating Subsidiaries Executive Retirement Plan dated September 18, 1997 (Exhibit 10.9, Form 10-K for fiscal year ended September 30, 1997 in File No. 1-3880)

    • Amendments to the National Fuel Gas Company and Participating Subsidiaries Executive Retirement Plan dated December 10, 1998 (Exhibit 10.2, Form 10-Q for the quarterly period ended December 31, 1998 in File No. 1-3880)

    • Amendments to National Fuel Gas Company and Participating Subsidiaries Executive Retirement Plan effective September 16, 1999 (Exhibit 10.15, Form 10-K for fiscal year ended September 30, 1999 in File No. 1-3880)

    • Amendment to National Fuel Gas Company and Participating Subsidiaries Executive Retirement Plan, effective September 5, 2001 (Exhibit 10.4, Form 10-K/A for fiscal year ended September 30, 2001 in File No. 1-3880)

    • Retirement Supplement Agreement, dated September 14, 2000, between the Company and Gerald T. Wehrlin (Exhibit 10.5, Form 10-K/A for fiscal year ended September 30, 2001 in File No. 1-3880)
    • Retirement Supplement Agreement, dated January 11, 2002, between the Company and Joseph P. Pawlowski (Exhibit 10.6, Form 10-K/A for fiscal year ended September 30, 2001 in File No. 1-3880)
    • Administrative Rules with Respect to at Risk Awards under the 1993 Award and Option Plan (Exhibit 10.14, Form 10-K for fiscal year ended September 30, 1996 in File No. 1-3880)

    • Administrative Rules with Respect to at Risk Awards under the 1997 Award and Option Plan (Exhibit A, Definitive Proxy Statement, Schedule 14(A) filed January 14, 2000 in File No. 1-3880)

    • Administrative Rules of the Compensation Committee of the Board of Directors of National Fuel Gas Company, as amended and restated, effective December 10, 1998 (Exhibit 10.3, Form 10-Q for the quarterly period ended December 31, 1998 in File No. 1-3880)

    • Excerpts of Minutes from the National Fuel Gas Company Board of Directors Meeting of February 20, 1997 regarding the Retirement Benefits for Bernard J. Kennedy (Exhibit 10.10, Form 10-K for fiscal year ended September 30, 1997 in File No. 1-3880)

    • Excerpts of Minutes from the National Fuel Gas Company Board of Directors Meeting of March 20, 1997 regarding the Retainer Policy for Non-Employee Directors (Exhibit 10.11, Form 10-K for fiscal year ended September 30, 1997 in File No. 1-3880)

  4. Indebtedness to System Companies: None

  5. Participation in Bonus and Profit-Sharing Arrangements and Other Benefits:

    The information required by this item appears under “Directors’ Compensation,” and “Executive Compensation,” on pages 6 to 7 and pages 10 to 18, respectively, of the National Fuel Gas Company Proxy Statement, dated January 10, 2002, included as Exhibit A(3) to this Form U5S and incorporated herein by reference.

    Item 6. OFFICERS AND DIRECTORS (Concluded)

  6. Rights to Indemnity:

    The information required by this item appears in Article II, Paragraph 8 of the National Fuel Gas Company By-Laws as amended through December 13, 2001. Such By-Laws are listed as Exhibit B(1)(ii) to this Form U5S and are incorporated herein by reference as indicated.

    The Company also purchases directors and officers liability insurance coverage with an annual aggregate limit of $135 million, and, in recognition of the scope of the foregoing by-law indemnification, certain other errors and omissions and general liability insurance coverages which are applicable to all employees as insureds, including directors and officers.

ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS


                                                                                               Amount
                            Name of Recipient               Accounts Charged Per Books   Fiscal Year Ended
    Name of Company          or Beneficiary       Purpose     of Disbursing Company      September 30, 2001
    ---------------         -----------------     -------   --------------------------   ------------------

Tabulation showing expenditures, disbursements, or payments during the year, in money, goods or services,
directly or indirectly to or for the account of:

(1) Any political party, candidate for public office or holder of such office, or
any committee or agent therefor:

Distribution Corporation           N/A            *FEDPAC    Misc. Income Deductions        $  3,838

Distribution Corporation           N/A            *NYPAC     Misc. Income Deductions        $  3,479

Distribution Corporation           N/A            *PAPAC     Misc. Income Deductions        $  2,086

Supply Corporation                 N/A            *FEDPAC    Misc. Income Deductions        $  1,512

Supply Corporation                 N/A            *NYPAC     Misc. Income Deductions        $  1,472

Supply Corporation                 N/A            *PAPAC     Misc. Income Deductions        $  1,156

* Company labor and expenses relating to administration of political action funds.

(2) Any citizens group or public relations counsel:

Distribution Corporation    24 Beneficiaries       Civic     Operation Expense              $  5,988

Supply Corporation          14 Beneficiaries       Civic     Operation Expense              $  3,531

Seneca Resources             1 Beneficiary         Civic     Operation Expense              $    400

The information called for by instruction 2 to Item 7 was compiled, and memoranda from the applicable System Companies were received and are preserved by the Registrant.

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS

Part I. Intercompany sales and services

  1. Salaries of officers of the Registrant

                                                           NATIONAL FUEL GAS COMPANY
                                                           -------------------------
                                                          REPORT OF OFFICERS' SALARIES
                                                          ----------------------------
                                                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                  --------------------------------------------
                          Distribution   Supply    Seneca     Leidy                       Data-
                  Parent     Corp.       Corp.    Resources    Hub    Highland  Horizon   Track   NFR     Total
                  ------  ------------   ------   ---------   -----   --------  -------   -----   ---     -----


B. J. Kennedy    $72,093  $296,854      $449,520   $10,602    $   -   $2,120    $ 8,481  $4,240  $4,240  $848,150

P. C. Ackerman    53,550   220,500       220,500    91,350        -    6,300     37,800       -       -   630,000

A. M. Cellino      9,000   114,383        56,617         -        -        -          -       -       -   180,000

J. P. Pawlowski   13,000   153,995        75,010    16,103        -    1,700          -       -     192   260,000

G. T. Wehrlin     18,337    20,548         9,916     2,128    4,477      219    180,600       -  21,775   258,000

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Continued)

Part I. Intercompany sales and services (Continued)

  1. Services rendered by Statutory Subsidiaries

                            DISTRIBUTION CORPORATION
                            ------------------------
                    REPORT OF INTERCOMPANY SALES AND SERVICES
                    -----------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                                            Common Expenses
                            --------------------------------------------------------------------------------------

                                                      Corporate     Materials                Accounts
Receiving Company           Executive   Purchasing  Communications  Management  Accounting   Payable
-----------------           ---------   ----------  --------------  ----------  ----------   -------
Supply Corporation           $  533       $225           $153          $ 8       $  871       $255
Seneca Resources                515          -              8            -          189          -
UCI                               -          -              -            -            -          -
Highland                         64          -              1            -           21          -
Data-Track                        -          -              -            -            -          -
NFR                               7          -              -            -            2          -
Leidy Hub                         -          -              -            -            -          -
Horizon                           -          -              -            -            -          -
Parent Company                    -          -              -            -            -          -
NIM                               -          -              -            -            -          -
Upstate Energy                    -          -              -            -            -          -
                             ------       ----           ----          ---       ------       ----
                             $1,119       $225           $162          $ 8       $1,083       $255
                             ======       ====           ====          ===       ======       ====

                                                            Common Expenses
                            --------------------------------------------------------------------------------------
                              Data           Human                             Government      Benefit
Receiving Company           Processing     Resources     Legal     Finance       Affair        Services     CPR
-----------------           ----------     ---------     -----     -------     ----------      --------     ---
Supply Corporation             $232          $358        $ 74       $635          $48            $199      $131
Seneca Resources                  -            46          71        118            -             179         -
UCI                               -             -           -          -            -               -         -
Highland                          -             5           9         13            -              22         -
Data-Track                        -             -           -          -            -               -         -
NFR                               -             1           1          1            -               3         -
Leidy Hub                         -             -           -          -            -               -         -
Horizon                           -             -           -          -            -               -         -
Parent Company                    -             -           -          -            -               -         -
NIM                               -             -           -          -            -               -         -
Upstate Energy                    -             -           -          -            -               -         -
                               ----          ----        ----       ----          ---            ----      ----
                               $232          $410        $155       $767          $48            $403      $131
                               ====          ====        ====       ====          ===            ====      ====

                               Common Expenses
                            ----------------------
                                        Total           Total      Total    Convenience or      Total Service
                                        Common         Clearing    Direct    Accommodation       Rendered By
Receiving Company           Payroll     Expense        Charges*   Charges*    Payments*     Statutory Subsidiaries
-----------------           -------     -------        --------   --------  --------------  ----------------------
Supply Corporation           $130       $3,852          $4,461     $4,449      $ 8,333             $21,095
Seneca Resources                -        1,126             152        366        2,329               3,973
UCI                             -            -               -          -            4                   4
Highland                        -          135              17         43          196                 391
Data-Track                      -            -               -          -           24                  24
NFR                             -           15              49        214          218                 496
Leidy Hub                       -            -               -         11            -                  11
Horizon                         -            -               2        945           26                 973
Parent Company                  -            -               5        231          798               1,034
NIM                             -            -               -          -            4                   4
Upstate Energy                  -            -               -          -            2                   2
                             ----       ------          ------     ------      -------             -------
                             $130       $5,128          $4,686     $6,259      $11,934             $28,007
                             ====       ======          ======     ======      =======             =======

* Analysis of Clearing Charges, Direct Charges & Convenience or Accommodation Payments is presented on pages 24 and 25.

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Continued)

Part I. Intercompany sales and services (Continued)

  1. Services rendered by Statutory Subsidiaries (Continued)

                            DISTRIBUTION CORPORATION
                            ------------------------
                    REPORT OF INTERCOMPANY SALES AND SERVICES
                    -----------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                                            Clearing Charges
                            -----------------------------------------------------------------------------------------
                            Material                                                           Total
                            Issue &                                       Data    Messenger   Clearing
Receiving Company           Transfer Telecommunications Rental Postage Processing  Expense     Charges
-----------------           -------- ------------------ ------ ------- ---------- ---------   ---------
Supply Corporation           $1,826         $203          $42   $ 6      $2,270     $114       $4,461
Seneca Resources                  3           63            -     -          84        2          152
UCI                               -            -            -     -           -        -            -
Highland                          -            -            -     -           9        8           17
Data-Track                        -            -            -     -           -        -            -
NFR                               -           38            -     -           1       10           49
Leidy Hub                         -            -            -     -           -        -            -
Horizon                           -            -            2     -           -        -            2
Parent Company                    1            -            -     1           3        -            5
NIM                               -            -            -     -           -        -            -
Upstate Energy                    -            -            -     -           -        -            -
                             ------         ----          ---   ---      ------     ----       ------
                             $1,830         $304          $44   $ 7      $2,367     $134       $4,686
                             ======         ====          ===   ===      ======     ====       ======

                                                            Direct Charges
                            -----------------------------------------------------------------------------------------
                                         Telecom-                             Contract
Receiving Company           Land  MMD   munications  Insurance  Operations  Administration     Accounting
-----------------           ----- ---   -----------  ---------  ----------  --------------     ----------
Supply Corporation          $308  $122     $37         $466       $1,946         $38              $ -
Seneca Resources              32     -       -            -           13           -                -
UCI                            -     -       -            -            -           -                -
Highland                       -     -       -            -            -           -                -
Data-Track                     -     -       -            -            -           -                -
NFR                            -     -       -            -            -           -                1
Leidy Hub                      -     -       -            -            -           -                -
Horizon                        -     -       -            -            -           -               69
Parent Company                 -     -       -            -            -           -               18
NIM                            -     -       -            -            -           -                -
Upstate Energy                 -     -       -            -            -           -                -
                            ----  ----     ---         ----       ------         ---              ---
                            $340  $122     $37         $466       $1,959         $38              $88
                            ====  ====     ===         ====       ======         ===              ===

                                                            Direct Charges
                            -----------------------------------------------------------------------------------------
                                    Interstate  Government                          Rates &       Human
Receiving Company           Legal   Marketing    Affairs     Finance   Executive   Regulation   Resources
-----------------           -----   ----------  ----------   -------   ---------   ----------   ---------
Supply Corporation           $54       $ -         $240       $151       $  920       $-          $ 31
Seneca Resources              16         -            7         42          253        1             -
UCI                            -         -            -          -            -        -             -
Highland                      11         -            -         10           22        -             -
Data-Track                     -         -            -          -            -        -             -
NFR                            8         -            -         49          156        -             -
Leidy Hub                      -         -            -          -           11        -             -
Horizon                        -        34            -        224          618        -             -
Parent Company                 -         -            -         29          179        -             -
NIM                            -         -            -          -            -        -             -
Upstate Energy                 -         -            -          -            -        -             -
                             ---       ---         ----       ----       ------       --          ----
                             $89       $34         $247       $505       $2,159       $1          $ 31
                             ===       ===         ====       ====       ======       ==          ====


                                                            Direct Charges
                            -----------------------------------------------------------------------------------------
                                                                                                         Total
                            Benefit                 Quality                                              Direct
Receiving Company           Services  Engineering  Assurance                                             Charges
-----------------           --------  -----------  ---------                                             -------
Supply Corporation            $20         $72         $44                                                $4,449
Seneca Resources                2           -           -                                                   366
UCI                             -           -           -                                                     -
Highland                        -           -           -                                                    43
Data-Track                      -           -           -                                                     -
NFR                             -           -           -                                                   214
Leidy Hub                       -           -           -                                                    11
Horizon                         -           -           -                                                   945
Parent Company                  3           2           -                                                   231
NIM                             -           -           -                                                     -
Upstate Energy                  -           -           -                                                     -
                              ---         ---         ---                                                ------
                              $25         $74         $44                                                $6,259
                              ===         ===         ===                                                ======

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Continued)

Part I. Intercompany sales and services (Continued)

  1. Services rendered by Statutory Subsidiaries (Continued)

                            DISTRIBUTION CORPORATION
                            ------------------------
                ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS
                -------------------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                                Receiving Company
                     ------------------------------------------------------------------
                     Parent    Supply     Seneca      Data-              Leidy
                     Company Corporation Resources UCI Track Highland NFR  Hub  Horizon
                     ------- ----------- --------- --- ----- -------- --- ----- -------

Material              $   -     $   371   $    5   $  - $ -    $  2   $  - $ -   $ -
Rents                     -          79        -      -   -       -      -   -     -
Transportation            -          11        1      -   -       -      -   -     -
Utilities                 -         909       84      -  23       -     22   -     -
Contractors &
 Outside Services       546       1,201       37      1  (1)      2     (2) (1)   (8)
Equipment Purchases
 & Rentals                1         652        -      -   -       -      2   -     -
Employee Benefits         8       2,784        5      -   -       5     93   -     -
Office Expense           20         727       37      -   1      15     18   1    32
Dues & Subscriptions    150         223        -      -   -       -      -   -     -
Other Insurance           -       1,084    2,152      -   -      83     25   -     -
Injuries & Damages        3         221        -      1   -      87      -   -     -
Other                    57          47        8      2   1       2     60   -     2
Advertising               -          10        -      -   -       -      -   -     -
Postage                  13           5        -      -   -       -      -   -     -
Environmental             -           3        -      -   -       -      -   -     -
Land Acquisitions         -           6        -      -   -       -      -   -     -
                      -----      ------   ------   ---- ---    ----   ---- ---   ---
                      $ 798     $ 8,333   $2,329   $  4 $24    $196   $218 $ -   $26
                      =====     =======   ======   ==== ===    ====   ==== ===   ===



                              Receiving Company
                           --------------------------
                                   Upstate
                           NIM     Energy      Total
                           ---     -------     -----

Material                   $ 2      $ 1       $   381
Rents                        -        -            79
Transportation               -        -            12
Utilities                    -        -         1,038
Contractors &
 Outside Services           (2)      (1)        1,772
Equipment Purchases
 & Rentals                   -        -           655
Employee Benefits            -        -         2,895
Office Expense               4        1           856
Dues & Subscriptions         -        -           373
Other Insurance              -        1         3,345
Injuries & Damages           -        -           312
Other                        -        -           179
Advertising                  -        -            10
Postage                      -        -            18
Environmental                -        -             3
Land Acquisition             -        -             6
                           ---      ---       -------

                           $ 4      $ 2       $11,934
                           ===      ===       =======

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Continued)

Part I. Intercompany sales and services (Continued)

  1. Services rendered by Statutory Subsidiaries (Continued)
                               SUPPLY CORPORATION
                               ------------------
                    REPORT OF INTERCOMPANY SALES AND SERVICES
                    -----------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                 Clearing Accounts                       Direct Charges
                   ----------------------------------------------  -------------------------
                                         Material         Total
                     DPC     Production  Issue &  Rental Clearing       Interstate
Receiving Company  Clearing   Clearing   Transfer Clear  Charges    MMD  Marketing   Finance
-----------------  --------  ----------- -------- ------ --------   ---  ----------  -------

Distribution Corp.   $ 9        $  -      $  448  $2,774  $3,231    $55    $35       $  -
Seneca Resources       -         180           7       -     187      -      -          -
Horizon                -           -           -      26      26      -      3        133
Highland               -           -           -       -       -      -      -          -
Data Track             -           -           -       -       -      -      -          -
NFR                    -           -           -       -       -      -      -          -
Leidy Hub              -           -           -       -       -      -      -          -
Parent Company         -           -           -      10      10      -      -         79
Upstate Energy         -           -           -       -       -      -      -          -
NIM                    -           -           -       -       -      -      -          -
                     ---        ----      ------  ------  ------    ---    ---       ----

                     $ 9        $180      $  455  $2,810  $3,454    $55    $38       $212
                     ===        ====      ======  ======  ======    ===    ===       ====


                                                  Direct Charges Continued
                   ---------------------------------------------------------------------------------
                                                                                Operations,
                                                                               Construction &
                    Benefit                 Human            Gas                  Customer
Receiving Company  Services  Engineering  Resources  Land  Control  Executive     Service      Legal
-----------------  --------  -----------  ---------  ----  -------  ---------- --------------  -----

Distribution Corp.   $  -        $ 39       $ 67     $185   $1,134    $1,098       $1,523       $18
Seneca Resources        -           -          -       22        -        39           82         -
Horizon                 -           -          -        -        -       516            -        53
Highland                -           -         11        -        -        11            -         -
Data Track              -           -          -        -        -        17            -         -
NFR                     -           -          7        -        -        17            -         -
Leidy Hub               -           -          -        -        -         -            -         -
Parent Company          2           -          -        -        -       256            -         -
Upstate Energy          -           -          -        -        -         -            -         -
NIM                     -           -          -        -        -         2            -         -
                     ----         ---       ----     ----   ------    ------       ------       ---

                     $  2        $ 39       $ 85     $207   $1,134    $1,956       $1,605       $71
                     ====        ====       ====     ====   ======    ======       ======       ===

                                                             Total Services
                     Total     Total     Convenience or       Rendered By
                    Direct    Clearing   Accommodation         Statutory
Receiving Company   Charges   Charges      Payments*          Subsidiaries
-----------------   -------   --------   --------------      -------------------

Distribution Corp.  $4,154     $3,231        $1,458              $ 8,843
Seneca Resources       143        187            13                  343
Horizon                705         26             5                  736
Highland                22          -            (2)                  20
Data Track              17          -             1                   18
NFR                     24          -             1                   25
Leidy Hub                -          -             -                    -
Parent Company         337         10            13                  360
Upstate Energy           -          -             -                    -
NIM                      2          -             -                    2
                    ------     ------        ------              -------

                    $5,404     $3,454        $1,489              $10,347
                    ======     ======        ======              =======

* Analysis of Convenience or Accommodation Payments is presented on page 27.

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Continued)

Part I. Intercompany sales and services (Continued)

  1. Services rendered by Statutory Subsidiaries (Continued)

                               SUPPLY CORPORATION
                               ------------------
                ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS
                -------------------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                          Receiving Company
                      ----------------------------------------------------------
                       Parent   Distribution   Seneca    Horizon
                       Company  Corporation   Resources  Energy   Highland
                       -------  ------------  ---------  -------  --------

Material                 $ -       $  127       $ 1        $-       $ -
Rents                      -            -         -         -         -
Transportation             -            7         -         -         -
Utilities                  -          298         -         -         -
Contractors &
 Outside Services          -          721         4         2         -
Equipment Purchases
 & Rentals                 -            6         -         -         -
Employee Benefits         13           67         2         1         -
Office Expense             -           67         -         1         -
Dues & Memberships         -           35         -         -         -
Other                      -           80         6         1        (2)
Other Insurance            -           44         -         -         -
Postage                    -            -         -         -         -
Advertising                -            -         -         -         -
Environmental              -            -         -         -         -
Injuries & Damages         -            6         -         -         -
                         ---       ------       ---        --       ---

                         $13       $1,458       $13        $5       $(2)
                         ===       ======       ===        ==       ===


                              Receiving Company
                      --------------------------------------
                      Data-                  Upstate
                      Track  NFR  Leidy Hub  Energy   NIM     Total
                      -----  ---  ---------  -------  ---     -----

Material               $-    $ -     $-        $-     $ -     $  128
Rents                   -      -      -         -       -          -
Transportation          -      -      -         -       -          7
Utilities               -      -      -         -       -        298
Contractors &
 Outside Services       -      -      -         -       -        727
Equipment Purchases
 & Rentals              -      -      -         -       -          6
Employee Benefits       1      1      -         -       -         85
Office Expense          -      -      -         -       -         68
Dues & Memberships      -      -      -         -       -         35
Other                   -      -      -         -       -         85
Other Insurance         -      -      -         -       -         44
Postage                 -      -      -         -       -          -
Advertising             -      -      -         -       -          -
Environmental           -      -      -         -       -          -
Injuries & Damages      -      -      -         -       -          6
                       --    ---     --        --     ---     ------

                       $1    $ 1     $-        $-     $ -     $1,489
                       ==    ===     ==        ==     ===     ======

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Continued)

Part I. Intercompany sales and services (Continued)

  1. Services rendered by Statutory Subsidiaries (Continued)

                                SENECA RESOURCES
                                ----------------
                    REPORT OF INTERCOMPANY SALES AND SERVICES
                    -----------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                                                            Total
                                                                           Services
                                                         Convenience or  Rendered By
                                   Timber                Accommodation    Statutory
Receiving Company                  Sales     Operations     Payments     Subsidiaries
-----------------                  ------    ----------  --------------  ------------

Supply Corporation                $     -      $  670         $ 22         $   692
Highland                           11,448           -            1          11,449
NFR                                     -           -           10              10
Upstate Energy                          -           -            -               -
Parent Company                          -           -            -               -
NFE                                     -           -          188             188
Horizon                                 -           -            7               7
                                  -------      ------         ----         -------

                                  $11,448      $  670         $228         $12,346
                                  =======      ======         ====         =======


                ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS
                -------------------------------------------------

                                    Receiving Company
           ------------------------------------------------------------------------------------
                                Supply
           Highland  Horizon  Corporation   NFR     NFE     Total
           --------  -------  ------------  ---   --------  -----

Other        $1        $7         $22       $10     $188    $228
             --        --         ---       ---     ----    ----

             $1        $7         $22       $10     $188    $228
             ==        ==         ===       ===     ====    ====

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Continued)

Part I. Intercompany sales and services (Concluded)

  1. Services rendered by Statutory Subsidiaries (Concluded)


                                    HIGHLAND
                                    --------
                    REPORT OF INTERCOMPANY SALES AND SERVICES
                    -----------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                                 Total Services
                                                  Rendered By
                               Convenience         Statutory
Receiving Company               Payments          Subsidiaries
-----------------              -----------       -----------------

Seneca Resources                  $320                $320

Supply Corporation                   -                   -
                                  ----                ----

                                  $320                $320
                                  ====                ====


                                   DATA-TRACK
                                   ----------
                    REPORT OF INTERCOMPANY SALES AND SERVICES
                    -----------------------------------------
                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                  --------------------------------------------
                             (THOUSANDS OF DOLLARS)
                             ----------------------

                                                        Total Services
                                                         Rendered by
                                         Collection       Statutory
Receiving Company                         Services       Subsidiaries
-----------------                        ----------     --------------

Distribution Corporation                    $435             $435

NFR                                            9                9
                                            ----             ----


                                            $444             $444
                                            ====             ====

  1. Services rendered by Registrant

    No services were rendered for a charge by the Registrant to any of its subsidiaries during the fiscal year ended September 30, 2001.

ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS (Concluded)

Part II.

Contracts to purchase services or goods between any System company and any affiliate (other than a System company) at September 30, 2001:

None


Part III.

Employment of any person by any System company for the performance on a continuing basis of management services:

                                Description of Contract and         Annual
                Name                 Scope of Services           Consideration
           ---------------      ---------------------------      -------------

           Robert Davis         Performs management and            $100,000
                                consulting services for
                                Highland.

           Joseph Maljovec      Performs management and            $ 68,952
                                consulting services for
                                Highland.

           Enterprise Risk      Performs consulting services      Retainer of
           Management, Inc.     for the Registrant regarding       $ 86,000
                                placement of insurance
                                coverages and participates
                                in management or facilitation
                                of claims.

           Robert C. Williams   Performs real estate consulting    $  4,600
                                services for Seneca Resources.

ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES


Part I.  A.       Interests in Foreign Utility Companies

                  1.       United Energy, a.s. and Teplarna Liberec, a.s.

                  (a)      United Energy, a.s. (UE)
                           Komorany u Mostu
                           434 03 Most
                           Czech Republic

                           Teplarna Liberec, a.s. (TL)
                           Dr. M. Horakove 641/34a
                           460 01 Liberec
                           Czech Republic

                           UE generates and supplies steam heat to customers in
                           the Czech Republic. UE also generates electric energy
                           for sale. UE has been designated as a foreign utility
                           company because it owns and operates a coal-fired
                           electric generation plant with generating capacity of
                           236 MW and sells the electricity it produces at
                           wholesale. UE has also been designated as a foreign
                           utility company because it owns a 70% interest (common
                           equity) in TL. TL, in turn, has been designated as a
                           foreign utility company because it owns and operates
                           a 12 MW steam powered electric generation turbine and
                           sells the produced electricity at wholesale.

                           Horizon Energy Development, Inc. (Horizon) owns 100%
                           of the capital stock of Horizon Energy Holdings, Inc.
                           (HEHI), which owns 100% of the capital stock of Horizon
                           Energy Development B.V. (HEDBV).  HEDBV owns 85.16%
                           of the capital stock of UE, which owns 70% of the
                           capital stock of TL.





ITEM 9.  WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES (Continued)
-------  --------------------------------------------------------------


                  (b)      Horizon owns 100% of the capital stock of HEHI, which
                           investment was valued at $112,492,000 as of September 30,
                           2001. HEHI owns 100% of the capital stock of
                           HEDBV, which investment was valued at $112,492,000 as
                           of September 30, 2001.  HEDBV owns 85.16% of the
                           capital stock of UE, and such investment was valued at
                           $112,819,000 as of September 30, 2001. UE owns 70%
                           of the capital stock of TL, and such investment was
                           valued at $8,187,000 as of September 30, 2001. The
                           financial statements of Horizon and its subsidiaries
                           are found on pages 62 through 86 of this Form U5S.


                           There are no debts or other financial obligations of
                           HEHI, HEDBV, UE or TL for which there is recourse,
                           directly or indirectly, to the registered holding
                           company or another system company. There are no direct
                           or indirect guaranties of any of the securities of UE
                           or TL by the registered holding company. There have
                           been no transfers of any assets from any system
                           company to UE or TL.

                  (c)      The ratio of debt to comprehensive shareholders’
                           equity of UE was 40.40% as of September 30, 2001. TL
                           had no debt outstanding at September 30, 2001. The
                           earnings (loss) of UE and TL for the twelve months
                           ended September 30, 2001 (net of minority interest)
                           were $4,603,000 and $(54,000), respectively. The
                           financial statements of UE and TL are found on pages
                           82 through 86 of this Form U5S.

                  (d)      There are management support agreements between Horizon
                           Energy Development,  s.r.o. (HED) and UE and TL. Under
                           these agreements, HED agrees to provide management
                           services (i.e., strategic, legal, marketing, public
                           relations and human resource services) to both UE and
                           TL. The agreement with UE calls for UE to pay HED CZK
                           1,975,000 on a monthly basis. The agreement with TL
                           calls for a monthly payment of CZK 500,000 to HED,
                           effective as of December 1, 2000.

                           There is a service agreement between UE and TL calling
                           for TL to pay UE CZK 1,630,000 on a monthly basis.
                           The services UE provides include services similar to those
                           described above, plus engineering, technical, accounting
                           and bank transactional services.

                  2.       Teplarna Kromeriz, a.s.

                  (a)      Teplarna Kromeriz, a.s. (Kromeriz)
                           Na Sadkach 3572
                           767 01 Kromeriz
                           Czech Republic

                           Kromeriz generated and supplied steam heat to customers
                           in the Czech Republic. It has been designated as a
                           foreign utility company because it had developed initial
                           plans to add a 38 MW simple-cycle electric generating
                           unit on its site. Due to the general decline in business
                           conditions in the service territory of Kromeriz,
                           and a dwindling number of customers, HEDBV determined
                           to place Kromeriz in liquidation effective November 15,
                           2001. The activities of Kromeriz are now under the
                           control of a liquidating agent.


ITEM 9.  WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES (Continued)
-------  --------------------------------------------------------------


                           Horizon owns 100% of the capital stock of HEHI, which
                           owns 100% of the capital stock of HEDBV. HEDBV owns
                           100% of the capital stock of Kromeriz. The capital stock
                           of Kromeriz was transferred to HEDBV from Power
                           Development, s.r.o. (PD), a former wholly-owned subsidiary
                           of HEDBV. PD was dissolved based on HEDBV’s
                           determination to simplify the ownership structure of the companies.

                  (b)      Horizon owns 100% of the capital stock of HEHI, which
                           investment was valued at $112,492,000 as of September 30,
                           2001. HEHI owns 100% of the capital stock of
                           HEDBV, which investment was valued at $112,492,000 as
                           of September 30, 2001.  HEDBV owns 100% of the capital
                           stock of Kromeriz, and such investment was valued
                           at $(63,000) as of September 30, 2001. The financial
                           statements of Horizon and its subsidiaries are found
                           on pages 62 through 86 of this Form U5S.

                           There are no debts or other financial obligations of
                           HEHI, HEDBV or Kromeriz for which there is recourse,
                           directly or indirectly, to the registered holding company
                           or another system company. There are no direct or indirect
                           guaranties of any of the securities of Kromeriz by the
                           registered holding company. There have been no
                           transfers of any assets from any system company to Kromeriz.

                  (c)      The ratio of debt to comprehensive shareholders’
                           equity of Kromeriz was in excess of 100% as of September 30,
                           2001. Kromeriz had debt of $82,000 and negative comprehensive
                           shareholders’ equity of $(63,000). Kromeriz posted a
                           net loss of $(1,316,000) for the twelve months ended
                           September 30, 2001. The financial statements of Kromeriz
                           are found on pages 72 through 81 of this Form U5S.

                  (d)      There was a management support agreement between HED
                           and Kromeriz. Under this agreement, HED agreed to provide
                           management services (i.e., strategic, legal, marketing,
                           public relations and human resource services) to Kromeriz.
                           The agreement called for Kromeriz to pay HED CZK 210,000
                           on a monthly basis.

         B.       Interests in Exempt Wholesale Generators

                  1.       Horizon Power, Inc. (formerly NFR Power, Inc.)

                  (a)      Horizon Power, Inc. (Power)
                           10 Lafayette Square
                           Suite 900
                           Buffalo, New York  14203

                           Power has been designated as an exempt wholesale generator
                           by the Federal Energy Regulatory Commission and owns a
                           50% interest in each of Seneca Energy II, LLC
                           (Seneca Energy), Model City Energy, LLC (Model City)
                           and Energy Systems North East, LLC (ESNE). Seneca Energy
                           has a generating capacity of approximately 11.2
                           MW and generates electricity using methane gas obtained
                           from a landfill near Seneca Falls, New York. Model City has a



ITEM 9.  WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES (Continued)
-------  --------------------------------------------------------------


                           generating capacity of approximately 5.6 MW and generates
                           electricity in the same manner, from a landfill near Lewiston,
                           New York. The landfills are owned by outside parties.
                           Seneca Energy sells its electricity at wholesale to an
                           unaffiliated public utility. Model City sells its
                           electricity at wholesale to the New York Independent
                           System Operator. ESNE owns an 80 MW natural gas-fired
                           cogeneration power plant located near North East,
                           Pennsylvania. ESNE sells electricity at wholesale to
                           the New York Independent System Operator and sells thermal
                           energy to a grape processing plant. The Registrant owns
                           100% of the capital stock of Power.  Part I(b), Part I(c)
                           and Part I(d) for Power are filed pursuant to Rule 104(b).





ITEM 9.  WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES (Concluded)
-------  --------------------------------------------------------------


                  2.       Energy Systems North East, LLC

                  (a)      Energy Systems North East, LLC
                           10195 Ackerman Lane
                           North East, Pennsylvania  16428

                           ESNE has been designated as an exempt wholesale
                           generator by the Federal Energy Regulatory Commission.
                           ESNE owns an 80 MW natural gas-fired cogeneration power
                           plant located near North East, Pennsylvania. ESNE sells
                           electricity at wholesale to the New York Independent
                           System Operator and sells thermal energy to a grape
                           processing plant. The Registrant owns 100% of the capital
                           stock of Power, which owns 50% of the limited liability
                           company interests of ESNE.  Part I(b), Part I(c) and
                           Part I(d) for ESNE are filed pursuant to Rule 104(b).

Part II Relationship of Exempt Wholesale Generators and Foreign Utility Companies to System Companies

  Organization charts showing the relationships of Kromeriz (now in liquidation), TL, UE, Power and ESNE to system companies are provided as Exhibits G-1, G-2 and G-3 to this Form U5S.

Part III Aggregate Investment in Exempt Wholesale Generators and Foreign Utility Companies

  Part III is filed pursuant to Rule 104(b).

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS

NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
INDEX TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2001

                                                                         Page
                                                                         ----

National Fuel Gas Company and Subsidiaries:
Report of Independent Accountants                                         37
Consolidating and Consolidated Balance Sheet at September 30, 2001       38-41
Consolidating and Consolidated Statement of Income for the Fiscal
  Year Ended September 30, 2001                                          42-43
Consolidating and Consolidated Statement of Earnings Reinvested in
  the Business for the Fiscal Year Ended September 30, 2001              44-45
Consolidating and Consolidated Statement of Cash Flows for the
  Fiscal Year Ended September 30, 2001                                   46-49
Consolidating and Consolidated Statement of Comprehensive Income
  for the Fiscal Year Ended September 30, 2001                           50-51

Seneca Resources Corporation:
Consolidating Balance Sheet at September 30, 2001                         52
Consolidating Statement of Income for the Fiscal Year Ended
  September 30, 2001                                                      53
Consolidating Statement of Earnings Reinvested in the Business
  for the Fiscal Year Ended September 30, 2001                            54
Consolidating Statement of Cash Flows for the Fiscal Year
  Ended September 30, 2001                                                55
Consolidating Statement of Comprehensive Income for the Fiscal Year
  Ended September 30, 2001                                                56

National Fuel Exploration Corporation:
Consolidating Balance Sheet at September 30, 2001                         57
Consolidating Statement of Income for the Fiscal Year Ended
  September 30, 2001                                                      58
Consolidating Statement of Earnings Reinvested in the Business
  for the Fiscal Year Ended September 30, 2001                            59
Consolidating Statement of Cash Flows for the Fiscal Year
  Ended September 30, 2001                                                60
Consolidating Statement of Comprehensive Income for the Fiscal Year
  Ended September 30, 2001                                                61

Horizon Energy Development, Inc. and Subsidiaries:
Consolidating Balance Sheet at September 30, 2001                         62
Consolidating Statement of Income for the Fiscal Year Ended
  September 30, 2001                                                      63
Consolidating Statement of Earnings Reinvested in the Business
  for the Fiscal Year Ended September 30, 2001                            64
Consolidating Statement of Cash Flows for the Fiscal Year
  Ended September 30, 2001                                                65
Consolidating Statement of Comprehensive Income for the Fiscal Year
  Ended September 30, 2001                                                66

Horizon Energy Holdings, Inc.:
Consolidating Balance Sheet at September 30, 2001                         67
Consolidating Statement of Income for the Fiscal Year Ended
  September 30, 2001                                                      68
Consolidating Statement of Earnings Reinvested in the Business
  for the Fiscal Year Ended September 30, 2001                            69
Consolidating Statement of Cash Flows for the Fiscal Year
  Ended September 30, 2001                                                70
Consolidating Statement of Comprehensive Income for the Fiscal Year
  Ended September 30, 2001                                                71

ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS (Concluded)

NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
INDEX TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2001

                                                                         Page
                                                                         ----

Horizon Energy Development B.V.:
Consolidating Balance Sheet at September 30, 2001                        72-73
Consolidating Statement of Income for the Fiscal Year Ended
  September 30, 2001                                                     74-75
Consolidating Statement of Earnings Reinvested in the Business
  for the Fiscal Year Ended September 30, 2001                           76-77
Consolidating Statement of Cash Flows for the Fiscal Year
  Ended September 30, 2001                                               78-79
Consolidating Statement of Comprehensive Income for the Fiscal Year
  Ended September 30, 2001                                               80-81

United Energy, a.s.:
Consolidating Balance Sheet at September 30, 2001                         82
Consolidating Statement of Income for the Fiscal Year Ended
  September 30, 2001                                                      83
Consolidating Statement of Earnings Reinvested in the Business
  for the Fiscal Year Ended September 30, 2001                            84
Consolidating Statement of Cash Flows for the Fiscal Year
  Ended September 30, 2001                                                85
Consolidating Statement of Comprehensive Income for the Fiscal Year
  Ended September 30, 2001                                                86


Notes to Consolidated Financial Statements                                 *

*

The Notes to Consolidated Financial Statements included in Item 8 of National Fuel Gas Company's Form 10-K for the fiscal year ended September 30, 2001, are incorporated herein by reference.

REPORT OF INDEPENDENT ACCOUNTANTS

To the Board of Directors
and Shareholders of
National Fuel Gas Company

In our opinion, the consolidated financial statements listed in the index appearing under Item 10 on Pages 35 and 36 present fairly, in all material respects, the financial position of National Fuel Gas Company and its subsidiaries at September 30, 2001, and the results of their operations and their cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Company's management; our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit of these statements in accordance with auditing standards generally accepted in the United States of America which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

Our audit was made for the purpose of forming an opinion on the consolidated financial statements taken as a whole. The consolidating information on Pages 38 through 86 is presented for purposes of additional analysis rather than to present financial position, results of operations and cash flows of the individual companies. Accordingly, we do not express an opinion on the financial position, results of operations and cash flows of the individual companies. However, the consolidating information on Pages 38 through 86 has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and, in our opinion, is fairly stated in all material respects in relation to the consolidated financial statements taken as a whole.

PricewaterhouseCoopers LLP



Buffalo, New York
October 24, 2001, except for Note F,
as to which the date is December 3, 2001


                                      NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
                                              CONSOLIDATING BALANCE SHEET
                                                 AT SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                                                                                                          Horizon
                                          National      National       Seneca                   Highland     Data-Track    National       Energy                      Seneca      Niagara
                             National     Fuel Gas      Fuel Gas      Resources      Leidy        Forest       Account        Fuel       Development,   Upstate        Indep.     Indpendence    Horizon     Total Before  Eliminations  Consolidated
                             Fuel Gas    Distribution    Supply      Corporation      Hub,      Resources,    Services,    Resources,       Inc.        Energy,       Pipeline    Marketing,      Power,     Eliminations  & Adjustments Company and
                             Company       Corp.         Corp.      (Consolidated)    Inc.         Inc.          Inc.         Inc.       (Consolidated)   Inc.        Company        Inc.          Inc.      & Adjustments  Dr (Cr)      Subsidiaries
                            -----------  -----------   -----------  -------------  ----------  -----------   -----------  -----------    -------------  ----------   -----------  -----------   -----------  ------------- ------------- ------------
          ASSETS

PROPERTY, PLANT
  & EQUIPMENT              $       132  $ 1,325,812     $ 802,188  $ 1,806,118         $   -     $ 65,991       $   185     $    972     $ 271,073      $   998      $      -          $ -       $   247  $ 4,273,716  $          -    $ 4,273,716

  Less: Accumulated
  Depreciation,
  Depletion and
  Amortization                     131      380,119       318,967      693,304             -        6,729            64          709        92,824          104             -            -            52    1,493,003             -      1,493,003
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------
                                     1      945,693       483,221    1,112,814             -       59,262           121          263       178,249          894             -            -           195    2,780,713             -      2,780,713
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------

CURRENT ASSETS:

  Cash and Temporary
    Cash Investments                (4)       5,455           311          557            95          187           211       22,640         5,809          126            14            1           799       36,201            26         36,227
  Notes Receivable
    -Intercompany              524,500            -             -       30,300           800            -           700            -           800            -             -            -             -      557,100      (557,100)             -
  Allowance for
    Uncollectible
    Accounts                         -      (15,246)         (242)        (132)            -            -             -       (2,138)         (762)           -             -            -             -      (18,520)            -        (18,520)
  Accounts Receivable
    -Intercompany               26,942        9,163         4,926        4,543             3           83           103        4,231            36            -             -            -             -       50,030       (50,030)             -
  Accounts Receivable              407       86,927         8,172       34,282             -        2,499             2       11,816         5,717           48             -            -           376      150,246             -        150,246
  Unbilled Utility
    Revenue                          -       21,535             -            -             -            -             -            -         3,840            -             -            -             -       25,375             -         25,375
  Dividends Receivable
    -Intercompany               17,354            -             -            -             -            -             -            -             -            -             -            -             -       17,354       (17,354)             -
  Materials and
    Supplies - at
    average cost                     -        5,141         7,625        3,513             -       16,390             -            -         3,014            -             -            -             -       35,683        (1,973)        33,710
  Gas Stored
    Underground                      -       69,537             -            -             -            -             -        9,288             -        4,406             -            -             -       83,231             -         83,231
  Unrecovered
    Purchased
    Gas Costs                        -        4,113             -            -             -            -             -            -             -            -             -            -             -        4,113             -          4,113
  Prepayments                      531       27,741         4,716        6,288             -           73            12          127            27            -             -            -             6       39,521            (1)        39,520
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------
                               569,730      214,366        25,508       79,351           898       19,232         1,028       45,964        18,481        4,580            14            1         1,181      980,334      (626,432)       353,902
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------

OTHER ASSETS:

  Recoverable Future
    Taxes                            -       81,641         4,945            -             -            -             -            -             -            -             -            -             -       86,586             -         86,586
  Unamortized Debt
    Expense                      8,059        8,439         5,648            -             -            -             -            -             -            -             -            -             -       22,146        (2,350)        19,796
  Other Regulatory
    Assets                       5,579       15,292         2,382            -             -            -             -            -             -            -             -            -             -       23,253             -         23,253
  Deferred Charges               1,505        2,806         4,632          509             -            -             -          696            40            -             -            -             -       10,188        (1,052)         9,136
  Fair Value of Derivative
    Financial Instruments            -            -             -       36,413             -            -             -            -             -        1,171             -            -             -       37,584             1         37,585
  Investment in
    Associated
    Companies                  952,182            -            61            -             -            -             -            -             -            -             -            -             -      952,243      (952,243)             -
  Notes Receivable -
    Intercompany             1,124,000            -             -            -             -            -             -            -             -            -             -            -             -    1,124,000    (1,124,000)             -
  Other                         17,958       15,953         8,946        2,068             -        1,180             -       21,591         9,590            -        14,632            -        16,789      108,707        25,888        134,595
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------
                             2,109,283      124,131        26,614       38,990             -        1,180             -       22,287         9,630        1,171        14,632            -        16,789    2,364,707    (2,053,756)       310,951
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------
                           $ 2,679,014  $ 1,284,190     $ 535,343  $ 1,231,155         $ 898     $ 79,674       $ 1,149     $ 68,514     $ 206,360      $ 6,645      $ 14,646          $ 1      $ 18,165  $ 6,125,754   $(2,680,188)   $ 3,445,566
                            ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========    ===========

See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.



                                      NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
                                              CONSOLIDATING BALANCE SHEET
                                                 AT SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                                                                                                          Horizon
                                          National      National       Seneca                    Highland     Data-Track    National       Energy                      Seneca      Niagara
                             National     Fuel Gas      Fuel Gas     Resources       Leidy        Forest       Account        Fuel       Development,   Upstate        Indep.     Indpendence    Horizon     Total Before  Eliminations  Consolidated
                             Fuel Gas    Distribution    Supply      Corporation      Hub,      Resources,    Services,    Resources,       Inc.        Energy,       Pipeline    Marketing,      Power,     Eliminations  & Adjustments Company and
                             Company       Corp.         Corp.      (Consolidated)    Inc.         Inc.          Inc.         Inc.       (Consolidated)   Inc.        Company        Inc.          Inc.      & Adjustments  Dr (Cr)      Subsidiaries
                            -----------  -----------   -----------  --------------  ---------  -----------   -----------  -----------   --------------- --------   -----------  -----------   -----------  --------------- ------------- ------------
CAPITALIZATION
AND LIABILITIES

CAPITALIZATION:
  Common Stock $1 Par
    Value; Authorized -
    200,000,000 Shares;
    Issued and
    Outstanding -
    79,406,105 Shares       $   79,406  $         -     $       -  $         -         $   -     $      -       $     -     $      -     $       -      $     -       $     -          $ -      $      -    $    79,406    $        -  $    79,406
  Capital Stock of
    Subsidiaries                     -       59,170        25,345          500             4            4             1           10             5            1             1            1             1         85,043       (85,043)           -
  Paid in Capital              430,618      121,668        35,894      104,035         1,365        3,005           499       33,490        38,246        6,800             -            -         5,020        780,640      (350,022)     430,618
  Earnings  Reinvested
    in the Business            513,488      331,562       227,528      (22,012)         (639)       5,674           268       (2,299)       (9,143)      (5,945)          467            -           715      1,039,664      (526,176)     513,488
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------
  Total Common Shareholder
    Equity Before Items of
    Other Comprehensive
    Income                   1,023,512      512,400       288,767       82,523           730        8,683           768       31,201        29,108          856           468            1         5,736      1,984,753      (961,241)   1,023,512
  Accumulated Other
    Comprehensive
    Income (Loss)              (20,857)           -           644         (779)            -            -             -         (914)      (20,253)      (1,071)            -            -             -        (43,230)       22,373      (20,857)
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------
  Total Comprehensive
    Shareholders' Equity     1,002,655      512,400       289,411       81,744           730        8,683           768       30,287         8,855         (215)          468            1         5,736      1,941,523      (938,868)   1,002,655

  Long-Term Debt,
    Net of Current
    Portion                  1,024,000          219             -            -             -            -             -            -        22,475            -             -            -             -      1,046,694             -    1,046,694
  Notes Payable -
    Intercompany                     -      299,000       115,000      620,000             -            -             -            -        90,000            -             -            -             -      1,124,000    (1,124,000)           -
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------
  Total Capitalization       2,026,655      811,619       404,411      701,744           730        8,683           768       30,287       121,330         (215)          468            1         5,736      4,112,217    (2,062,868)   2,049,349
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------

  Minority Interest in
    Foreign Subsidiaries             -            -             -            -             -            -             -            -        22,324            -             -            -             -         22,324             -       22,324
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------

CURRENT AND ACCRUED
LIABILITIES:
  Notes Payable to
    Banks and
    Commercial Paper           459,900            -             -       15,675             -            -             -            -        14,098            -             -            -             -        489,673             -      489,673
  Notes Payable -
    Intercompany                32,600       74,600        33,400      291,900             -       62,900             -       19,000        13,700        3,600        13,200            -        12,200        557,100      (557,100)           -
  Current Portion of
    Long-Term Debt             100,000          297           136            -             -            -             -            -         9,002            -             -            -             -        109,435             -      109,435
  Accounts Payable                  36       35,966        12,592       58,797             -        5,196           107          218         8,854        1,000             -            -            12        122,778        (4,273)     118,505
  Amounts Payable to
    Customers                        -       51,223             -            -             -            -             -            -             -            -             -            -             -         51,223             -       51,223
  Accounts Payable -
    Intercompany                 1,608       14,697         6,945       19,355            34        1,508           298          214         3,844        4,733            46            -            34         53,316       (53,316)           -
  Dividends Payable -
    Intercompany                     -        8,700         6,154        2,000             -          400             -          100             -            -             -            -             -         17,354       (17,354)           -
  Other Accruals and
    Current Liabilities         53,934       38,258           563         (525)            -          (81)          (17)       2,357         2,838       (1,882)            5            -          (230)        95,220          (586)      94,634
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------
                               648,078      223,741        59,790      387,202            34       69,923           388       21,889        52,336        7,451        13,251            -        12,016      1,496,099      (632,629)     863,470
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------

DEFERRED CREDITS:
  Accumulated Deferred
    Income  Taxes                   53      134,604        59,197      138,275           133          562           (49)      (2,035)        9,223         (591)          927            -           413        340,712          (153)     340,559
  Taxes Refundable to
    Customers                        -       19,541        (2,676)           -             -            -             -            -             -            -             -            -             -         16,865             -       16,865
  Unamortized
    Investment Tax
     Credit                          -        9,315           284            -             -            -             -            -             -            -             -            -             -          9,599             -        9,599
  Fair Value of Derivative
   Financial Instruments             -            -             -            -             -            -             -       16,500           581            -             -            -             -         17,081             -       17,081
  Other Deferred
    Credits                      4,228       85,370        14,337        3,934             1          506            42        1,873           566            -             -            -             -        110,857        15,462      126,319
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------
                                 4,281      248,830        71,142      142,209           134        1,068            (7)      16,338        10,370         (591)          927            -           413        495,114        15,309      510,423
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------
                            $ 2,679,014 $ 1,284,190     $ 535,343  $ 1,231,155         $ 898     $ 79,674       $ 1,149     $ 68,514     $ 206,360      $ 6,645      $ 14,646          $ 1      $ 18,165    $ 6,125,754   $(2,680,188) $ 3,445,566
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------    -----------   -----------  -----------

See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                      NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
                                           CONSOLIDATING STATEMENT OF INCOME
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                                                                                                           Horizon
                                          National      National        Seneca                    Highland     Data-Track    National       Energy                     Seneca      Niagara
                             National     Fuel Gas      Fuel Gas      Resources       Leidy        Forest       Account        Fuel       Development,   Upstate        Indep.     Indpendence    Horizon     Total Before   Eliminations   Consolidated
                             Fuel Gas    Distribution    Supply      Corporation      Hub,      Resources,    Services,    Resources,       Inc.         Energy,       Pipeline    Marketing,      Power,     Eliminations   & Adjustments  Company and
                             Company       Corp.         Corp.      (Consolidated)    Inc.         Inc.          Inc.         Inc.       (Consolidated)    Inc.        Company        Inc.          Inc.      & Adjustments   Dr (Cr)       Subsidiaries
                            -----------  -----------   -----------  -------------   ----------  -----------   -----------  -----------   --------------  --------    -----------  -----------   -----------  --------------  -------------  ------------


OPERATING REVENUE:            $      -   $ 1,234,648    $ 171,091    $ 409,956          $  -     $ 41,927         $ 464    $ 259,205      $ 97,910     $ 17,480        $    -          $ -         $ 377       $ 2,233,058    $ (132,706) $ 2,100,352
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------

OPERATING EXPENSE:
  Purchased Gas                      -      839,539         1,860       44,954             -            -             -      255,629             -       22,090             -            -             -         1,164,072      (118,267)   1,045,805
  Fuel Used in Heat and
    Electric Generation              -            -             -            -             -            -             -        1,634        53,334            -             -            -             -            54,968             -       54,968
  Operation                      4,536      159,196        50,391       78,177            18       34,558           426        5,991        23,115        2,735            11            -           703           359,857       (16,164)     343,693
  Maintenance                        -       12,285         8,112            -             -          190             -            -            38            -             -            -             -            20,625             -       20,625
  Property, Franchise &
    Other Taxes                    522       57,939         9,887       13,035             -           35             -          106         2,184            -             -            -            22            83,730             -       83,730
  Impairment of Oil and
    Gas Producing
    Properties                       -            -             -      180,781             -            -             -            -             -            -             -            -             -           180,781             -      180,781
  Depreciation, Depletion
    and Amortization                 2       36,607        23,746       99,245             -        2,297            37          212        12,634           50             -            -            32           174,862            52      174,914
  Income Taxes                     227       42,985        29,327      (33,218)           10        1,703            21       (1,660)          253       (2,754)         (237)           -           442            37,099             7       37,106
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------
                                 5,287    1,148,551       123,323      382,974            28       38,783           484      261,912        91,558       22,121          (226)           -         1,199         2,075,994      (134,372)   1,941,622
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------
  Operating Income
    (Loss)                      (5,287)      86,097        47,768       26,982           (28)       3,144           (20)      (2,707)        6,352       (4,641)          226            -          (822)          157,064         1,666      158,730
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------


OTHER INCOME:
  Unremitted Earnings
    of Subsidiaries             (1,929)           -             -            -             -            -             -            -             -            -             -            -             -            (1,929)        1,929            -
  Dividends from
    Subsidiaries                69,416            -             -            -             -            -             -            -             -            -             -            -             -            69,416       (69,416)           -
  Interest-Intercompany        104,988           70             -        1,478            43            -            37            -            23            -             -            -             -           106,639      (106,639)           -
  Other                            258        2,030         4,512        1,521             -        2,414             -          924         1,891            -             -            -         1,846            15,396          (140)      15,256
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------
                               172,733        2,100         4,512        2,999            43        2,414            37          924         1,914            -             -            -         1,846           189,522      (174,266)      15,256
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------
  Income (Loss) Before
    Interest Charges
    and Minority
    Interest in
    Foreign
    Subsidiaries               167,446       88,197        52,280       29,981            15        5,558            17       (1,783)        8,266       (4,641)          226            -         1,024           346,586      (172,600)     173,986
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------

INTEREST CHARGES:
  Interest on Long-Term
    Debt                        78,231            -             -           55             -            -             -            -         3,565            -             -            -             -            81,851             -       81,851
  Interest-Intercompany          1,651       26,083        10,882       56,327             -        3,120             -        1,684         5,738          488           666            -             -           106,639      (106,639)           -
  Other Interest                22,065        1,406           582          620             -            -             -          (35)          662            -             -            -           204            25,504          (210)      25,294
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------
                               101,947       27,489        11,464       57,002             -        3,120             -        1,649         9,965          488           666            -           204           213,994      (106,849)     107,145
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------

  Minority Interest in
    Foreign Subsidiaries             -            -             -            -             -            -             -            -        (1,342)           -             -            -             -            (1,342)            -       (1,342)
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------       -----------   -----------  -----------

  Net Income (Loss)
    Available for
    Common Stock              $ 65,499  $    60,708     $  40,816    $ (27,021)         $ 15     $  2,438         $  17    $  (3,432)     $ (3,041)    $ (5,129)       $ (440)         $ -         $ 820       $   131,250    $  (65,751) $    65,499
                            ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========       ===========   ===========  ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National                                          Basic Earnings Per Common Share
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,                                            Net Income Available for Common Stock                                                                              $ 0.83
incorporated herein by reference.                                                                                                                                                                                                          ===========

                                                                                                                          Diluted Earnings Per Common Share
                                                                                                                            Net Income Available for Common Stock                                                                              $ 0.82
                                                                                                                                                                                                                                           ===========

                                                                                                                          Weighted Average Common Shares Outstanding
                                                                                                                            Used in Basic Calculation                                                                                      79,053,444
                                                                                                                                                                                                                                           ===========
                                                                                                                            Used in Diluted Calculation                                                                                    80,361,258
                                                                                                                                                                                                                                           ===========
                                      NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
                            CONSOLIDATING STATEMENT OF EARNINGS REINVESTED IN THE BUSINESS
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                                                                                                           Horizon
                                          National      National       Seneca                    Highland     Data-Track    National       Energy                       Seneca       Niagara
                             National     Fuel Gas      Fuel Gas      Resources      Leidy        Forest       Account        Fuel       Development,    Upstate        Indep.     Indpendence    Horizon     Total Before   Eliminations   Consolidated
                             Fuel Gas    Distribution    Supply      Corporation      Hub,      Resources,    Services,    Resources,       Inc.         Energy,       Pipeline    Marketing,      Power,     Eliminations   & Adjustments  Company and
                             Company       Corp.         Corp.      (Consolidated)    Inc.         Inc.          Inc.         Inc.       (Consolidated)    Inc.        Company        Inc.          Inc.      & Adjustments   Dr (Cr)       Subsidiaries
                            -----------  -----------   -----------  -------------  ----------  -----------   -----------  -----------   ---------------  ---------   -----------  -----------   -----------  --------------  -------------  ------------

EARNINGS REINVESTED
IN THE BUSINESS

  Balance at Beginning
    of Year                  $ 525,847    $ 305,654     $ 211,328    $  13,009        $ (654)     $ 4,836         $ 251     $  1,533      $ (6,102)    $   (816)        $ 907          $ -        $ (105)    $ 1,055,688      $ (529,841)     $ 525,847

  Net Income (Loss)
    Available for
    Common Stock                65,499       60,708        40,816      (27,021)           15        2,438            17       (3,432)       (3,041)      (5,129)         (440)           -           820         131,250         (65,751)        65,499

  Dividends on Common
    Stock (2001 - $0.99
    per share)                 (77,858)     (34,800)      (24,616)      (8,000)            -       (1,600)            -         (400)            -            -             -            -             -        (147,274)         69,416        (77,858)
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------   -----------     -----------     -----------    -----------


  Balance at End of Year     $ 513,488    $ 331,562     $ 227,528    $ (22,012)       $ (639)     $ 5,674         $ 268     $ (2,299)     $ (9,143)    $ (5,945)        $ 467          $ -        $  715      $ 1,039,664     $ (526,176)     $ 513,488
                            ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========   ===========     ===========     ===========    ===========




        At September 30, 2001                                                                                                                     ANALYSIS OF INVESTMENTS IN ASSOCIATED COMPANIES AT SEPTEMBER 30, 2001

                                                                                                                                                       Par or                    Earnings                                  Total Investment
Intercompany Eliminations:                                                                                                                           Stated Value               Reinvested in   Unremitted    Accumulated   in Associated
                                                                                                                                                         of           Paid      the Business     Earnings        Other       Companies
                                                                                                                                                     Subsidiary        In           at            Since        Comprehensive     at
Earnings Reinvested in the Business:                                                                                                                   Stock        Capital     Acquisition     Acquisition      Income        Equity
                                                                                                                                                     -----------   -----------  -----------     -----------    -----------   -----------
  Unremitted Earnings of Subsidiaries                                                                                     Registrant:
    Since Acquisition                                     532,456                                                           Distribution
  Earnings Reinvested in the Business                                                                                         Corporation              $ 59,170     $ 121,668      $ 4,636       $ 326,926     $      -     $ 512,400
    of Subsidiaries at Acquisition                          7,095                                                           Supply Corporation           25,345        35,833        2,453         225,075          644       289,350
  Consolidating Adjustment                                (13,375)                                                          Seneca Resources                500       104,035            6         (22,018)        (779)       81,744
                                                       -----------
                                                        $ 526,176                                                           Leidy Hub                         4         1,365            -            (639)           -           730
                                                       ===========
                                                                                                                            Highland                          4         3,005            -           5,674            -         8,683
                                                                                                                            Data-Track                        1           499            -             268            -           768
Net Income Available for Common Stock:                                                                                      NFR                              10        33,490            -          (2,299)        (914)       30,287
  Subsidiaries-Dividends on                                                                                                 Horizon                           5        38,246            -          (9,143)     (20,253)        8,855
    Common Stock                                           69,416                                                           Upstate                           1         6,800            -          (5,945)      (1,071)         (215)
  Unremitted Earnings of Subsidiaries                      (1,929)                                                          Seneca Independence               1             -            -             467            -           468
  Consolidating Adjustment                                 (1,736)                                                          Niagara Independence              1             -            -               -            -             1
                                                       -----------
                                                           65,751                                                           Horizon Power, Inc.               1         5,020            -             715            -         5,736
                                                       ===========
                                                                                                                            Consolidating
                                                                                                                              Adjustment                      -             -            -          13,375            -        13,375
                                                                                                                                                     -----------   -----------  -----------     -----------  -----------   -----------
See Notes to Consolidated  Financial  Statements  included in Item 8 of National                                                                         85,043       349,961        7,095         532,456      (22,373)      952,182
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.                                                                                         Supply Corporation:
                                                                                                                            Seneca Resources                  -            61            -               -            -            61
                                                                                                                                                     -----------   -----------  -----------     -----------  -----------   -----------
                                                                                                                                                       $ 85,043     $ 350,022      $ 7,095       $ 532,456     $(22,373)    $ 952,243
                                                                                                                                                     ===========   ===========  ===========     ===========  ===========   ===========


                                       NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
                                         CONSOLIDATING STATEMENT OF CASH FLOWS
                                      FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                 (THOUSANDS OF DOLLARS)

                                                                                                                                          Horizon
                                              National     National       Seneca                   Highland    Data-Track    National      Energy                      Seneca      Niagara
                                 National     Fuel Gas     Fuel Gas      Resources      Leidy       Forest      Account        Fuel      Development,    Upstate       Indep.     Indpendence   Horizon     Total Before   Eliminations    Consolidated
                                 Fuel Gas    Distribution   Supply      Corporation     Hub,      Resources,   Services,    Resources,      Inc.         Energy,      Pipeline    Marketing,    Power,      Eliminations   & Adjustments   Company and
                                 Company       Corp.        Corp.      (Consolidated)   Inc.         Inc.         Inc.         Inc.      (Consolidated)    Inc.       Company        Inc.        Inc.       & Adjustments   Dr (Cr)        Subsidiaries
                                -----------  -----------  -----------  --------------  ---------  -----------  -----------  -----------  --------------  ----------  -----------  -----------  ----------   -------------  -------------   ------------
OPERATING ACTIVITIES:
Net Income (Loss) Available
  for Common Stock                $ 65,499     $ 60,708     $ 40,816    $ (27,021)        $ 15     $  2,438        $  17     $ (3,432)   $  (3,041)    $ (5,129)      $ (440)         $ -        $ 820        $ 131,250      $ (65,751)      $  65,499
Adjustments to Reconcile Net
  Income to Net Cash Provided
  by Operating Activities:
    Unremitted (Earnings)/
      Loss of Subsidiaries           1,929            -            -            -            -            -            -            -            -            -            -            -            -            1,929         (1,929)              -
  Dividend Income from
      Subsidiaries                       -            -            -            -            -            -            -            -            -            -            -            -            -                -              -               -
  Impairment of Oil & Gas
      Producing Properties               -            -            -      180,781            -            -            -            -            -            -            -            -            -          180,781              -         180,781
  Depreciation, Depletion
      and Amortization                   2       36,607       23,746       99,246            -        2,297           37          212       12,634           50            -            -           32          174,863             51         174,914
  Deferred Income Taxes                243      (18,002)       3,894      (44,345)          (1)         557           11        1,109          210           59            -            -          416          (55,849)             -         (55,849)
  Minority Interest in Foreign
      Subsidiaries                       -            -            -            -            -            -            -            -        1,342            -            -            -            -            1,342              -           1,342
  Other                              1,502          993       (1,619)        (797)           -       (1,624)           -            2        1,214            -            -            -            -             (329)         6,882           6,553

Change in:
  Receivables and Unbilled
      Utility Revenue                  (64)     (17,442)       4,150       11,124            -         (577)          (2)       1,187         (402)         (31)           -            -         (242)          (2,299)             -          (2,299)
  Accounts Receivable-
      Intercompany                  (5,285)      (3,668)       5,101          768            2          279            2        3,508          (36)           -            -            -          700            1,371         (1,371)              -
  Gas Stored Underground
      and Material and Supplies          -      (40,887)         126          636            -      (10,606)           -        4,487          932        8,279            -            -            -          (37,033)           (21)        (37,054)
  Unrecovered Purchased Gas Costs        -       25,568            -            -            -            -            -            -            -            -            -            -            -           25,568              -          25,568
  Prepayments                          (24)      (5,129)         123        4,719            -          324           (7)        (432)          33            -            -            -           (6)            (399)             -            (399)
  Accounts Payable                     (14)     (13,204)       2,730       31,553            -        3,606           96       (4,862)        (369)       1,000            -            -          (14)          20,522           (103)         20,419
  Amounts Payable to Customers           -       41,640            -            -            -            -            -            -            -            -            -            -            -           41,640              -          41,640
  Accounts Payable-Intercompany        708          969        1,411        4,169           (3)      (1,096)         104          (10)         466       (3,036)         (38)           -           (9)           3,635         (3,635)              -
  Other Accruals and Current
      Liabilities                    9,503        7,839       (8,953)       3,599           (3)        (949)         (33)      (1,109)       5,862       (1,750)         183            -         (227)          13,962              7          13,969
  Other Assets                      (2,734)      (1,164)      (4,340)       1,153            -            -            -      (21,538)      (1,345)       1,359            -            -         (742)         (29,351)        (4,878)        (34,229)
  Other Liabilities                 (2,224)      14,584       (1,607)     (16,164)          (1)        (160)         (45)      14,996         (316)      (4,731)           -            -            -            4,332          8,957          13,289
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------   ----------       ----------     ----------     -----------

  Net Cash Provided by
      (Used in) Operating
      Activities                  $ 69,041     $ 89,412     $ 65,578    $ 249,421          $ 9     $ (5,511)       $ 180     $ (5,882)    $ 17,184     $ (3,930)      $ (295)         $ -        $ 728        $ 475,935      $ (61,791)      $ 414,144
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------   ----------       ----------     ----------     -----------

See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

(Consolidating Statement of Cash Flows continues on pages 48 and 49)



                                       NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
                                         CONSOLIDATING STATEMENT OF CASH FLOWS
                                      FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                 (THOUSANDS OF DOLLARS)

                                                                                                                                          Horizon
                                              National     National       Seneca                   Highland    Data-Track    National      Energy                     Seneca        Niagara
                                 National     Fuel Gas     Fuel Gas      Resources      Leidy       Forest      Account        Fuel      Development,    Upstate       Indep.     Indpendence   Horizon     Total Before   Eliminations    Consolidated
                                 Fuel Gas    Distribution   Supply      Corporation     Hub,      Resources,   Services,    Resources,      Inc.         Energy,      Pipeline    Marketing,    Power,      Eliminations   & Adjustments   Company and
                                 Company       Corp.        Corp.      (Consolidated)   Inc.         Inc.         Inc.         Inc.      (Consolidated)    Inc.       Company        Inc.        Inc.       & Adjustments     Dr (Cr)      Subsidiaries
                                -----------  -----------  -----------  --------------  ----------  -----------  -----------  -----------  -------------  ----------  -----------  -----------  ----------   -------------  ------------    ------------
INVESTING ACTIVITIES:
Capital Expenditures                  $  -    $ (42,374)   $ (24,998)  $ (206,300)       $   -     $ (3,245)       $ (41)    $   (116)   $ (15,587)       $  (8)        $  -          $ -       $ (37)      $ (292,706)        $  -         $ (292,706)
Investment in Subsidiaries,
  Net of Cash Acquired                   -            -            -      (90,567)           -            -            -            -            -            -            -            -           -          (90,567)           -            (90,567)
Dividends Received from
  Subsidiaries                           -            -            -            -            -            -            -            -            -            -            -            -           -                -            -                  -
Investment in Associated
  Companies                        (36,800)           -            -            -            -            -            -            -            -            -            -            -           -          (36,800)      36,800                  -
Investment in Partnerships               -            -            -            -            -            -            -            -            -            -         (980)           -        (850)          (1,830)           -             (1,830)
Change in Notes
  Receivable - Intercompany        (39,200)           -            -            -            -            -            -            -            -            -            -            -           -          (39,200)      39,200                  -
Other                                    -           37            6       (5,224)           -        7,446            -            -        7,007            -            -            -     (11,500)          (2,228)        (712)            (2,940)
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  ----------       ----------   ----------        -----------

Net Cash Provided by (Used In)
  Investing  Activities            (76,000)     (42,337)     (24,992)    (302,091)           -        4,201          (41)        (116)      (8,580)          (8)        (980)           -     (12,387)        (463,331)      75,288           (388,043)
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  ----------       ----------   ----------        -----------

FINANCING ACTIVITIES:
Change in Notes Payable to
  Banks and Commercial Paper      (141,300)           -            -        2,912            -            -            -            -       (5,009)           -            -            -           -         (143,397)           -           (143,397)
Change in Notes
  Payable-Intercompany               9,100       (8,400)     (16,500)      52,300            -        2,800            -      (14,900)       4,200       (2,800)       1,200            -      12,200           39,200      (39,200)                 -
Capital Contribution                     -            -            -            -            -            -            -       30,000            -        6,800            -            -           -           36,800      (36,800)                 -
Net Proceeds from Issuance of
  Long-Term Debt                   197,294            -            -            -            -            -            -            -       12,927            -            -            -           -          210,221            -            210,221
Reduction of Long-Term Debt              -         (454)        (127)      (1,747)           -            -            -            -      (20,724)           -            -            -           -          (23,052)           -            (23,052)
Proceeds from Issuance of
  Common Stock                      18,477            -            -            -            -            -            -            -            -            -            -            -           -           18,477       (6,932)            11,545
Dividends Paid on Common Stock     (76,671)     (34,800)     (24,616)      (8,000)           -       (1,600)           -         (400)           -            -            -            -           -         (146,087)      69,416            (76,671)
Dividends Paid to Minority
  Interest                               -            -            -            -            -            -            -            -            -            -            -            -           -                -            -                  -
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  ----------       ----------   ----------        -----------

Net Cash Provided by (Used in)
  Financing Activities               6,900      (43,654)     (41,243)      45,465            -        1,200            -       14,700       (8,606)       4,000        1,200            -      12,200           (7,838)     (13,516)           (21,354)
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  ----------       ----------   ----------        -----------

Effect of Exchange Rates
  on Cash                                -            -            -         (853)           -            -            -            -          208            -            -            -           -             (645)           -               (645)
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  ----------       ----------   ----------        -----------

Net Increase (Decrease) in
  Cash and Temporary Cash
  Investments                          (59)       3,421         (657)      (8,058)           9         (110)         139        8,702          206           62          (75)           -         541            4,121          (19)             4,102

Cash and Temporary Cash
  Investments at Beginning
  of Year                               55        2,034          968        8,615           86          297           72       13,938        5,603           64           89            1         258           32,080           45             32,125
                                -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  -----------  ----------       ----------   ----------        -----------

Cash and Temporary Cash
  Investments at End of Year          $ (4)     $ 5,455        $ 311        $ 557         $ 95        $ 187        $ 211     $ 22,640      $ 5,809        $ 126         $ 14          $ 1       $ 799         $ 36,201         $ 26           $ 36,227
                                ===========  ===========  ===========  ===========  ===========  ===========  ===========  ===========  ===========  ===========  ===========  ===========  ==========       ==========   ==========        ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                      NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES
                                    CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                                                                                                            Horizon
                                          National      National       Seneca                    Highland     Data-Track    National        Energy                       Seneca      Niagara
                             National     Fuel Gas      Fuel Gas      Resources       Leidy        Forest       Account        Fuel        Development,    Upstate        Indep.     Indpendence    Horizon     Total Before   Eliminations    Consolidated
                             Fuel Gas    Distribution    Supply      Corporation       Hub,      Resources,    Services,    Resources,        Inc.         Energy,       Pipeline    Marketing,      Power,     Eliminations   & Adjustments   Company and
                             Company       Corp.         Corp.      (Consolidated)     Inc.         Inc.          Inc.         Inc.       (Consolidated)    Inc.         Company        Inc.          Inc.      & Adjustments     Dr (Cr)      Subsidiaries
                            -----------  -----------   -----------  -------------   ----------  -----------   -----------  -----------   ---------------  ---------    -----------  -----------   -----------  --------------  -------------   ------------
Net Income (Loss) Available
  for Common Stock            $ 65,499     $ 60,708      $ 40,816    $ (27,021)         $ 15      $ 2,438          $ 17     $ (3,432)       $ (3,041)     $ (5,129)       $ (440)         $ -         $ 820      $ 131,250       $ (65,751)      $ 65,499

Other Comprehensive Income
  (Loss), Before Tax:
  Foreign Currency
    Translation Adjustment      (7,158)           -             -      (14,850)            -            -             -            -           7,692             -             -            -             -        (14,316)          7,158         (7,158)
  Unrealized Gain / (Loss) on
    Securities Available
    for Sale Arising During
    the Period                    (712)           -             -            -             -            -             -            -               -             -             -            -             -           (712)              -           (712)
  Unrealized Gain / (Loss) on
    Derivative Financial
    Instruments During
    the Period                  58,355            -         1,606       59,986             -            -             -       (1,450)           (139)       (1,648)            -            -             -        116,710         (58,355)        58,355
  Reclassification Adjustment
    for Realized (Gains)/Losses
    on Derivative Financial
    Instruments
    in Net Income               83,218            -          (438)      82,859             -            -             -            -             796             -             -            -             -        166,435         (83,217)        83,218
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------     -----------   -----------   -----------  -----------   -----------    -----------     -----------    -----------
Other Comprehensive Income
(Loss), Before Tax             133,703            -         1,168      127,995             -            -             -       (1,450)          8,349        (1,648)            -            -             -        268,117        (134,414)       133,703
  Income Tax Expense/(Benefit)
    Related to Unrealized
    Gain/(Loss) on Securities
    Available for Sale Arising
    During the Period             (249)           -             -            -             -            -             -            -               -             -             -            -             -           (249)              -           (249)
  Income Tax Expense/(Benefit)
    Related to Unrealized
    Gain/(Loss) on Derivative
    Financial Instruments
    During the Period           23,053            -           622       23,586             -            -             -         (535)            (43)         (577)            -            -             -         46,106         (23,053)        23,053
  Reclassification Adjustment
    for Income Tax Benefit/
    (Expense) on Derivative
    Financial Instruments
    in Net Income               32,032            -          (169)      31,955             -            -             -            -             247             -             -            -             -         64,065         (32,033)        32,032
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------     -----------   -----------   -----------  -----------   -----------    -----------     -----------    -----------
Income Taxes - Net              54,836            -           453       55,541             -            -             -         (535)            204          (577)            -            -             -        109,922         (55,086)        54,836
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------     -----------   -----------   -----------  -----------   -----------    -----------     -----------    -----------
Other Comprehensive Income
  (Loss), Before Cumulative
  Effect, Net of Tax            78,867            -           715       72,454             -            -             -         (915)          8,145        (1,071)            -            -             -        158,195         (79,328)        78,867
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------     -----------   -----------   -----------  -----------   -----------    -----------     -----------    -----------

Cumulative Effect of
  Change in Accounting         (69,767)           -           (72)     (68,902)            -            -             -            -            (793)            -             -            -             -       (139,534)         69,767        (69,767)
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------     -----------   -----------   -----------  -----------   -----------    -----------     -----------    -----------

Other Comprehensive Income
  (Loss), After Cumulative
   Effect, Net of Tax            9,100            -           643        3,552             -            -             -         (915)          7,352        (1,071)            -            -             -         18,661          (9,561)         9,100
                            -----------  -----------   -----------  -----------   -----------  -----------   -----------  -----------     -----------   -----------   -----------  -----------   -----------    -----------     -----------    -----------

Comprehensive Income (Loss)   $ 74,599     $ 60,708      $ 41,459    $ (23,469)         $ 15      $ 2,438          $ 17     $ (4,347)       $  4,311      $ (6,200)       $ (440)         $ -         $ 820      $ 149,911       $ (75,312)      $ 74,599
                            ===========  ===========   ===========  ===========   ===========  ===========   ===========  ===========     ===========   ===========   ===========  ===========   ===========    ===========     ===========    ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                             SENECA RESOURCES CORPORATION
                                              CONSOLIDATING BALANCE SHEET
                                                 AT SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                          National
                                          Seneca            Fuel                                          Consolidated
                                         Resources       Exploration     Total Before                      Seneca and
                                        Corporation     (Consolidated)   Eliminations    Eliminations      Subsidiary
                                       --------------   --------------  ---------------  --------------   --------------


ASSETS

PROPERTY, PLANT & EQUIPMENT              $ 1,334,320        $ 471,798      $ 1,806,118      $        -      $ 1,806,118
  Less: Accumulated  DD&A                    474,870          218,434          693,304               -          693,304
                                       --------------   --------------  ---------------  --------------   --------------
                                             859,450          253,364        1,112,814               -        1,112,814
                                       --------------   --------------  ---------------  --------------   --------------
CURRENT ASSETS:
  Cash and Temporary Cash Investments            214              343              557               -              557
  Allowance for Uncollectible Accounts          (132)               -             (132)              -             (132)
  Notes Receivable - Intercompany             30,300                -           30,300               -           30,300
  Accounts Receivable                         25,312            8,970           34,282               -           34,282
  Accounts Receivable - Intercompany          20,773                -           20,773         (16,230)           4,543
  Materials and Supplies                         841            2,672            3,513               -            3,513
  Prepayments                                  5,521              767            6,288               -            6,288
                                       --------------   --------------  ---------------  --------------   --------------
                                              82,829           12,752           95,581         (16,230)          79,351
                                       --------------   --------------  ---------------  --------------   --------------
OTHER ASSETS:
  Investment in Associated Company           (32,171)               -          (32,171)         32,171                -
  Deferred Charges                               366              143              509               -              509
  Fair Value of Derivative
   Financial Instruments                      31,981            4,432           36,413               -           36,413
  Notes Receivable - Intercompany            253,005                -          253,005        (253,005)               -
  Other Assets                                 2,068                -            2,068               -            2,068
                                       --------------   --------------  ---------------  --------------   --------------
                                             255,249            4,575          259,824        (220,834)          38,990
                                       --------------   --------------  ---------------  --------------   --------------
TOTAL ASSETS                             $ 1,197,528        $ 270,691      $ 1,468,219      $ (237,064)     $ 1,231,155
                                       ==============   ==============  ===============  ==============   ==============

CAPITALIZATION & LIABILITIES

CAPITALIZATION:
  Common Stock                           $       500        $       -      $       500      $        -      $       500
  Paid - in - Capital                        104,035           78,445          182,480         (78,445)         104,035
  Earnings Reinvested in the Business        (22,012)         (91,382)        (113,394)         91,382          (22,012)
                                       --------------   --------------  ---------------  --------------   --------------
  Total Common Shareholder
    Equity Before Items of
    Other Comprehensive Income                82,523          (12,937)          69,586          12,937           82,523
  Accumulated Other
    Comprehensive Loss                          (779)         (19,234)         (20,013)         19,234             (779)
                                       --------------   --------------  ---------------  --------------   --------------
  Total Comprehensive Shareholders'
    Equity                                    81,744          (32,171)          49,573          32,171           81,744

  Long-Term Debt, Net of Current
  Portion                                          -                -                -               -                -
  Notes Payable-Intercompany                 620,000          253,005          873,005        (253,005)         620,000
                                       --------------   --------------  ---------------  --------------   --------------

  Total Capitalization                       701,744          220,834          922,578        (220,834)         701,744
                                       --------------   --------------  ---------------  --------------   --------------

CURRENT AND ACCRUED LIABILITIES:
  Current Portion of Long-Term Debt                -                -                -               -                -
  Notes Payable to Banks and
    Commercial Paper                               -           15,675           15,675               -           15,675
  Accounts Payable                            42,875           15,922           58,797               -           58,797
  Notes Payable - Intercompany               291,900                -          291,900               -          291,900
  Accounts Payable - Intercompany             19,355           16,230           35,585         (16,230)          19,355
  Dividends Payable - Intercompany             2,000                -            2,000               -            2,000
  Other Accruals and Current
    Liabilities                                 (477)             (48)            (525)              -             (525)
                                       --------------   --------------  ---------------  --------------   --------------
                                             355,653           47,779          403,432         (16,230)         387,202
                                       --------------   --------------  ---------------  --------------   --------------
DEFERRED CREDITS:
  Accumulated Deferred Income Taxes          136,228            2,047          138,275               -          138,275
  Other Deferred Credits                       3,903               31            3,934               -            3,934
                                       --------------   --------------  ---------------  --------------   --------------
                                             140,131            2,078          142,209               -          142,209
                                       --------------   --------------  ---------------  --------------   --------------

TOTAL CAPITALIZATION & LIABILITIES       $ 1,197,528        $ 270,691      $ 1,468,219      $ (237,064)     $ 1,231,155
                                       ==============   ==============  ===============  ==============   ==============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                             SENECA RESOURCES CORPORATION
                                           CONSOLIDATING STATEMENT OF INCOME
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                          Seneca          National                                        Consolidated
                                         Resources          Fuel         Total Before                      Seneca and
                                        Corporation      Exploration     Eliminations    Eliminations      Subsidiary
                                       --------------   --------------  ---------------  --------------   --------------

OPERATING REVENUE:                         $ 335,989        $  73,967       $  409,956        $      -        $ 409,956
                                       --------------   --------------  ---------------  --------------   --------------
OPERATING EXPENSE:
  Purchased Gas                               44,954                -           44,954               -           44,954
  Operation                                   50,769           27,408           78,177               -           78,177
  Maintenance                                      -                -                -               -                -
  Property, Franchise & Other Taxes            4,771            8,264           13,035               -           13,035
  Impairment of Oil & Gas Producing
    Properties                                     -          180,781          180,781               -          180,781
  Depreciation, Depletion and
    Amortization                              78,998           20,247           99,245               -           99,245
  Income Taxes                                40,979          (74,197)         (33,218)              -          (33,218)
                                       --------------   --------------  ---------------  --------------   --------------
                                             220,471          162,503          382,974               -          382,974
                                       --------------   --------------  ---------------  --------------   --------------
  Operating Income (Loss)                    115,518          (88,536)          26,982               -           26,982
                                       --------------   --------------  ---------------  --------------   --------------

OTHER INCOME:
  Unremitted Earnings/(Loss) of
    Subsidiary                               (97,773)               -          (97,773)         97,773                -
  Interest - Intercompany                     10,695                -           10,695          (9,217)           1,478
  Other                                          977              544            1,521               -            1,521
                                       --------------   --------------  ---------------  --------------   --------------
                                             (86,101)             544          (85,557)         88,556            2,999
                                       --------------   --------------  ---------------  --------------   --------------

  Income (Loss) Before
    Interest Charges and
    Minority Interest in
    Foreign Subsidiary                        29,417          (87,992)         (58,575)         88,556           29,981
                                       --------------   --------------  ---------------  --------------   --------------

INTEREST CHARGES:
  Interest on Long-Term Debt                      55                -               55               -               55
  Interest - Intercompany                     56,327            9,217           65,544          (9,217)          56,327
  Other Interest                                  56              564              620               -              620
                                       --------------   --------------  ---------------  --------------   --------------
                                              56,438            9,781           66,219          (9,217)          57,002
                                       --------------   --------------  ---------------  --------------   --------------


  Net Income (Loss) Available
    for Common Stock                       $ (27,021)       $ (97,773)      $ (124,794)       $ 97,773        $ (27,021)
                                       ==============   ==============  ===============  ==============   ==============



See Notes to  Consolidated  Financial  Statements  included  in Item 8 of National
Fuel Gas Company's Form 10-K for the fiscal year ended September 30, 2001,
incorporated herein by reference.


                                             SENECA RESOURCES CORPORATION
                            CONSOLIDATING STATEMENT OF EARNINGS REINVESTED IN THE BUSINESS
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)


                                          Seneca          National                                        Consolidated
EARNINGS REINVESTED                      Resources          Fuel         Total Before                      Seneca and
IN THE BUSINESS                         Corporation      Exploration     Eliminations    Eliminations      Subsidiary
                                       --------------   --------------  ---------------  --------------   --------------

Balance at Beginning of Year               $  13,009        $   6,391       $   19,400        $ (6,391)       $  13,009


Net Income (Loss) Available
for Common Stock                             (27,021)         (97,773)        (124,794)         97,773          (27,021)


Dividends on Common Stock                     (8,000)               -           (8,000)              -           (8,000)
                                       --------------   --------------  ---------------  --------------   --------------


Balance at End of Year                     $ (22,012)       $ (91,382)      $ (113,394)       $ 91,382        $ (22,012)
                                       ==============   ==============  ===============  ==============   ==============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                            SENECA RESOURCES CORPORATION
                                       CONSOLIDATING STATEMENT OF CASH FLOWS
                                    FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                               (THOUSANDS OF DOLLARS)

                                             Seneca        National                                     Consolidated
                                           Resources         Fuel        Total Before                    Seneca and
                                          Corporation     Exploration    Eliminations   Eliminations     Subsidiary
                                          -------------  --------------  -------------  -------------   -------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)                            $ (27,021)      $ (97,773)    $ (124,794)      $ 97,773       $ (27,021)
Adjustments to Reconcile Net Income
  to Net Cash Provided by Operating
  Activities:
  Unremitted (Earnings)/Loss of
    Subsidiary                                  97,773               -         97,773        (97,773)              -
  Impairment of Oil & Gas Producing
    Properties                                       -         180,781        180,781              -         180,781
  Depreciation, Depletion &
    Amortization                                78,998          20,248         99,246              -          99,246
  Deferred Income Taxes                         30,566         (74,911)       (44,345)             -         (44,345)
  Other                                           (797)              -           (797)             -            (797)

Change in:
  Receivables and Unbilled Utility
    Revenue                                      6,828           4,296         11,124              -          11,124
  Accounts Receivable - Intercompany            (9,180)              -         (9,180)         9,948             768
  Materials and Supplies                          (167)            803            636              -             636
  Prepayments                                    5,373            (654)         4,719              -           4,719
  Accounts Payable                              33,655          (2,203)        31,452            101          31,553
  Accounts Payable - Intercompany                4,169          10,049         14,218        (10,049)          4,169
  Other Accruals and Current Liabilities         3,936            (337)         3,599              -           3,599
  Other Assets                                   2,374          (1,221)         1,153              -           1,153
  Other Liabilities                            (14,931)         (1,233)       (16,164)             -         (16,164)
                                          -------------  --------------  -------------  -------------   -------------

Net Cash Provided by
Operating Activities                           211,576          37,845        249,421              -         249,421
                                          -------------  --------------  -------------  -------------   -------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Capital Expenditures                        (149,466)        (56,834)      (206,300)             -        (206,300)
  Investment in Subsidiaries,
    Net of Cash Acquired                             -         (90,567)       (90,567)             -         (90,567)
  Change in Notes
    Receivable - Intercompany                  (99,919)              -        (99,919)        99,919               -
  Investment in Associated Company                   -               -              -              -               -
  Other                                         (6,442)          1,218         (5,224)             -          (5,224)
                                          -------------  --------------  -------------  -------------   -------------

  Net Cash Used in Investing
    Activities                                (255,827)       (146,183)      (402,010)        99,919        (302,091)
                                          -------------  --------------  -------------  -------------   -------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Change in Notes Payable - Intercompany        52,300          99,919        152,219        (99,919)         52,300
  Change in Notes Payable to Banks and
    Commercial Paper                                 -           2,912          2,912              -           2,912
  Reduction of Long-Term Debt                   (1,747)              -         (1,747)             -          (1,747)
  Dividends Paid on Common Stock                (8,000)              -         (8,000)             -          (8,000)
  Capital Contribution                               -               -              -              -               -
                                          -------------  --------------  -------------  -------------   -------------

  Net Cash Provided by Financing
    Activities                                  42,553         102,831        145,384        (99,919)         45,465
                                          -------------  --------------  -------------  -------------   -------------


Effect of Exchange Rates on Cash                     -            (853)          (853)             -            (853)
                                          -------------  --------------  -------------  -------------   -------------

Net Increase (Decrease) in Cash
and Temporary Cash Investments                  (1,698)         (6,360)        (8,058)             -          (8,058)

Cash and Temporary Cash Investments
at Beginning of Period                           1,912           6,703          8,615              -           8,615
                                          -------------  --------------  -------------  -------------   -------------

Cash and Temporary Cash Investments
at End of Period                             $     214       $     343     $      557      $       -       $     557
                                          =============  ==============  =============  =============   =============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                             SENECA RESOURCES CORPORATION
                                    CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)


                                          Seneca          National                                        Consolidated
                                         Resources          Fuel         Total Before                      Seneca and
                                        Corporation      Exploration     Eliminations    Eliminations      Subsidiary
                                       --------------   --------------  ---------------  --------------   --------------

Net Income (Loss) Available
  for Common Stock                       $ (27,021)       $ (97,773)      $ (124,794)       $ 97,773        $ (27,021)
                                         ----------       ----------      -----------       ---------       ----------

Other Comprehensive Income
  (Loss), Before Tax:
  Foreign Currency
    Translation Adjustment                 (14,850)         (14,850)         (29,700)         14,850          (14,850)
  Unrealized Gain on Derivative
    Financial Instruments During
    the Period                              59,986           17,564           77,550         (17,564)          59,986
  Reclassification Adjustment for
    Realized Losses on Derivative
    Financial Instruments in
    Net Income                              82,859           13,741           96,600         (13,741)          82,859
                                         ----------       ----------      -----------       ---------       ----------
Other Comprehensive Income
  (Loss), Before Tax                       127,995           16,455          144,450         (16,455)         127,995
  Income Tax Expense Related to
    Unrealized Gain on Derivative
    Financial Instruments During
    the Period                              23,586            7,532           31,118          (7,532)          23,586
  Reclassification Adjustment for
    Income Tax Benefit on Losses
    on Derivative Financial
    Instruments Realized in
    Net Income                              31,955            5,746           37,701          (5,746)          31,955
                                         ----------       ----------      -----------       ---------       ----------

Income Taxes - Net                          55,541           13,278           68,819         (13,278)          55,541
                                         ----------       ----------      -----------       ---------       ----------
Other Comprehensive Income
  (Loss), Before Cumulative
  Effect, Net of Tax                        72,454            3,177           75,631          (3,177)          72,454

Cumulative Effect of
  Change in Accounting                     (68,902)         (18,080)         (86,982)         18,080          (68,902)
                                         ----------       ----------      -----------       ---------       ----------
Other Comprehensive Income
  (Loss), After Cumulative
   Effect, Net of Tax                        3,552          (14,903)         (11,351)         14,903            3,552
                                         ----------       ----------      -----------       ---------       ----------
Comprehensive Income (Loss)              $ (23,469)       $(112,676)      $ (136,145)       $112,676        $ (23,469)
                                         ==========       ==========      ===========       ========        ==========



See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                         NATIONAL FUEL EXPLORATION CORPORATION
                                              CONSOLIDATING BALANCE SHEET
                                                 AT SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                        National Fuel                                     Consolidated
                                       National Fuel     Exploration                                      National Fuel
                                        Exploration      Acquisition     Total Before                      Exploration
                                        Corporation      Corporation     Eliminations    Eliminations      Corporation
                                       --------------   --------------  ---------------  --------------   --------------

ASSETS

PROPERTY, PLANT & EQUIPMENT                $ 296,377        $ 175,421        $ 471,798       $       -        $ 471,798
Less: Accumulated  DD&A                       76,800          146,007          222,807          (4,373)         218,434
                                       --------------   --------------  ---------------  --------------   --------------
                                             219,577           29,414          248,991           4,373          253,364
                                       --------------   --------------  ---------------  --------------   --------------
CURRENT ASSETS:
  Cash and Temporary Cash Investments             65              278              343               -              343
  Allowance for Uncollectible Accounts             -                -                -               -                -
  Notes Receivable - Intercompany                  -                -                -               -                -
  Accounts Receivable                          6,918            2,052            8,970               -            8,970
  Accounts Receivable - Intercompany           3,002                -            3,002          (3,002)               -
  Materials and Supplies                       2,646               26            2,672               -            2,672
  Prepayments                                    414              353              767               -              767
                                       --------------   --------------  ---------------  --------------   --------------
                                              13,045            2,709           15,754          (3,002)          12,752
                                       --------------   --------------  ---------------  --------------   --------------
OTHER ASSETS:
  Investment in Associated Company           (75,231)               -          (75,231)         75,231                -
  Deferred Charges                               143                -              143               -              143
  Fair Value of Derivative
    Financial Instruments                       (262)           4,694            4,432               -            4,432
  Notes Receivable - Intercompany             99,919                -           99,919         (99,919)               -
  Other Assets                                     -                -                -               -                -
                                       --------------   --------------  ---------------  --------------   --------------
                                              24,569            4,694           29,263         (24,688)           4,575
                                       --------------   --------------  ---------------  --------------   --------------
TOTAL ASSETS                               $ 257,191        $  36,817        $ 294,008       $ (23,317)       $ 270,691
                                       ==============   ==============  ===============  ==============   ==============

CAPITALIZATION & LIABILITIES

CAPITALIZATION:
  Common Stock                             $       -        $       -        $       -       $       -        $       -
  Paid - in - Capital                         78,445                -           78,445               -           78,445
  Earnings Reinvested in the Business        (95,464)         (74,368)        (169,832)         78,450          (91,382)
                                       --------------   --------------  ---------------  -------------    --------------
  Total Common Shareholder
    Equity Before Items of
    Other Comprehensive
    Income                                   (17,019)         (74,368)         (91,387)         78,450          (12,937)
  Accumulated Other
    Comprehensive Income                     (19,525)            (863)         (20,388)          1,154          (19,234)
                                       --------------   --------------  ---------------  --------------   --------------
  Total Comprehensive Shareholders'
    Equity                                   (36,544)         (75,231)        (111,775)         79,604          (32,171)

  Long-Term Debt, Net of Current
    Portion                                        -                -                -               -                -
  Notes Payable-Intercompany                 253,005           99,919          352,924         (99,919)         253,005
                                       --------------   --------------  ---------------  --------------   --------------

  Total Capitalization                       216,461           24,688          241,149         (20,315)         220,834
                                       --------------   --------------  ---------------  --------------   --------------

CURRENT AND ACCRUED LIABILITIES:
  Current Portion of Long-Term Debt                -                -                -               -                -
  Notes Payable to Banks and
    Commercial Paper                          11,980            3,695           15,675               -           15,675
  Accounts Payable                            10,551            5,371           15,922               -           15,922
  Notes Payable - Intercompany                     -                -                -               -                -
  Accounts Payable - Intercompany             16,230            3,002           19,232          (3,002)          16,230
  Dividends Payable - Intercompany                 -                -                -               -                -
  Other Accruals and Current
    Liabilities                                 (109)              61              (48)              -              (48)
                                       --------------   --------------  ---------------  --------------   --------------
                                              38,652           12,129           50,781          (3,002)          47,779
                                       --------------   --------------  ---------------  --------------   --------------
DEFERRED CREDITS:
  Accumulated Deferred Income Taxes            2,047                -            2,047               -            2,047
  Other Deferred Credits                          31                -               31               -               31
                                       --------------   --------------  ---------------  --------------   --------------
                                               2,078                -            2,078               -            2,078
                                       --------------   --------------  ---------------  --------------   --------------

TOTAL CAPITALIZATION & LIABILITIES          $257,191        $  36,817        $ 294,008       $ (23,317)       $ 270,691
                                       ==============   ==============  ===============  ==============   ==============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

Note:  The financial statements of National Fuel Exploration Acquisition Corp.
       (presented on pages 57 through 61) represent the financial results of
       its wholly-owned subsidiary, Player Resources Ltd. (Player).  National
       Fuel Exploration Acquisition Corp. has no operations other than serving
       as the holding company for the stock of Player.



                                         NATIONAL FUEL EXPLORATION CORPORATION
                                           CONSOLIDATING STATEMENT OF INCOME
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)


                                                        National Fuel                                     Consolidated
                                       National Fuel     Exploration                                      National Fuel
                                        Exploration      Acquisition     Total Before                      Exploration
                                        Corporation      Corporation     Eliminations    Eliminations      Corporation
                                       --------------   --------------  ---------------  --------------   --------------

OPERATING REVENUE:                         $  67,187        $   6,780       $   73,967        $      -        $  73,967
                                       --------------   --------------    -------------  --------------   --------------

OPERATING EXPENSE:
  Purchased Gas                                    -                -                -               -                -
  Operation                                   24,962            2,446           27,408               -           27,408
  Maintenance                                      -                -                -               -                -
  Property, Franchise & Other Taxes            8,264                -            8,264               -            8,264
  Impairment of Oil & Gas Producing
    Properties                                52,117          131,735          183,852          (3,071)         180,781
  Depreciation, Depletion and
    Amortization                              16,116            5,470           21,586          (1,339)          20,247
  Income Taxes                               (15,842)         (58,683)         (74,525)            328          (74,197)
                                       --------------   --------------  ---------------  --------------   --------------
                                              85,617           80,968          166,585          (4,082)         162,503
                                       --------------   --------------  ---------------  --------------   --------------
  Operating Income (Loss)                    (18,430)         (74,188)         (92,618)          4,082          (88,536)
                                       --------------   --------------  ---------------  --------------   --------------

OTHER INCOME:
  Unremitted Loss of
    Subsidiary                               (74,368)               -          (74,368)         74,368                -
  Interest - Intercompany                          -                -                -               -                -
  Other                                          544                -              544               -              544
                                       --------------   --------------  ---------------  --------------   --------------
                                             (73,824)               -          (73,824)         74,368              544
                                       --------------   --------------  ---------------  --------------   --------------

  Income (Loss) Before
    Interest Charges and
    Minority Interest in
    Foreign Subsidiary                       (92,254)         (74,188)        (166,442)         78,450          (87,992)
                                       --------------   --------------  ---------------  --------------   --------------

INTEREST CHARGES:
  Interest on Long-Term Debt                       -                -                -               -                -
  Interest - Intercompany                      9,217                -            9,217               -            9,217
  Other Interest                                 384              180              564               -              564
                                       --------------   --------------  ---------------  --------------   --------------
                                               9,601              180            9,781               -            9,781
                                       --------------   --------------  ---------------  --------------   --------------


  Net Income (Loss) Available
    for Common Stock                       $(101,855)       $ (74,368)      $ (176,223)       $ 78,450        $ (97,773)
                                       ==============   ==============  ===============  ==============   ==============



See Notes to  Consolidated  Financial  Statements  included  in Item 8 of National
Fuel Gas Company's Form 10-K for the fiscal year ended September 30, 2001,
incorporated herein by reference.


                                         NATIONAL FUEL EXPLORATION CORPORATION
                            CONSOLIDATING STATEMENT OF EARNINGS REINVESTED IN THE BUSINESS
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                        National Fuel                                     Consolidated
                                       National Fuel     Exploration                                      National Fuel
EARNINGS REINVESTED                     Exploration      Acquisition     Total Before                      Exploration
IN THE BUSINESS                         Corporation      Corporation     Eliminations    Eliminations      Corporation
                                       --------------   --------------  ---------------  --------------   --------------

Balance at Beginning of Year               $   6,391        $       -        $   6,391         $     -        $   6,391


Net Income (Loss) Available
for Common Stock                            (101,855)         (74,368)        (176,223)         78,450          (97,773)


Dividends on Common Stock                          -                -                -               -                -
                                       --------------   --------------  ---------------  --------------   --------------


Balance at End of Year                     $ (95,464)       $ (74,368)       $(169,832)        $78,450        $ (91,382)
                                       ==============   ==============  ===============  ==============   ==============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                       NATIONAL FUEL EXPLORATION CORPORATION
                                       CONSOLIDATING STATEMENT OF CASH FLOWS
                                    FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                               (THOUSANDS OF DOLLARS)

                                                         National Fuel                                  Consolidated
                                          National Fuel   Exploration                                   National Fuel
                                          Exploration     Acquisition    Total Before                   Exploration
                                          Corporation     Corporation    Eliminations   Eliminations    Corporation
                                          -------------  --------------  -------------  -------------   -------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)                            $(101,855)      $ (74,368)    $ (176,223)      $ 78,450       $ (97,773)
Adjustments to Reconcile Net Income
  to Net Cash Provided by Operating
  Activities:
  Unremitted Loss of Subsidiary                 74,368               -         74,368        (74,368)              -
  Impairment of Oil & Gas Producing
    Properties                                  52,117         131,735        183,852         (3,071)        180,781
  Depreciation, Depletion &
    Amortization                                16,116           5,470         21,586         (1,339)         20,247
  Deferred Income Taxes                        (16,529)        (58,710)       (75,239)           328         (74,911)
  Other                                              -               -              -              -               -

Change in:
  Receivables and Unbilled Utility
    Revenue                                       (383)          4,679          4,296              -           4,296
  Accounts Receivable - Intercompany            (3,089)              -         (3,089)         3,089               -
  Materials and Supplies                           803               -            803              -             803
  Prepayments                                     (290)           (364)          (654)             -            (654)
  Accounts Payable                               2,703          (4,906)        (2,203)             -          (2,203)
  Accounts Payable - Intercompany               10,049           3,089         13,138         (3,089)         10,049
  Other Accruals and Current Liabilities          (400)             63           (337)             -            (337)
  Other Assets                                      18          (1,239)        (1,221)             -          (1,221)
  Other Liabilities                             (1,233)              -         (1,233)             -          (1,233)
                                          -------------  --------------  -------------  -------------   -------------

Net Cash Provided by
Operating Activities                            32,395           5,449         37,844              -          37,844
                                          -------------  --------------  -------------  -------------   -------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Capital Expenditures                         (52,607)         (4,227)       (56,834)             -         (56,834)
  Investment in Subsidiaries,
    Net of Cash Acquired                             -         (90,567)       (90,567)             -         (90,567)
  Change in Notes
    Receivable - Intercompany                  (99,919)              -        (99,919)        99,919               -
  Investment in Associated Company                   -               -              -              -               -
  Other                                            904             314          1,218              -           1,218
                                          -------------  --------------  -------------  -------------   -------------

  Net Cash Used in Investing
    Activities                                (151,622)        (94,480)      (246,102)        99,919        (146,183)
                                          -------------  --------------  -------------  -------------   -------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Change in Notes Payable - Intercompany        99,919          99,919        199,838        (99,919)         99,919
  Change in Notes Payable to Banks and
    Commercial Paper                            12,326          (9,414)         2,912              -           2,912
  Reduction of Long-Term Debt                        -               -              -              -               -
  Dividends Paid on Common Stock                     -               -              -              -               -
  Capital Contribution                               -               -              -              -               -
                                          -------------  --------------  -------------  -------------   -------------

  Net Cash Provided by Financing
    Activities                                 112,245          90,505        202,750        (99,919)        102,831
                                          -------------  --------------  -------------  -------------   -------------


Effect of Exchange Rates on Cash                   344          (1,196)          (852)             -            (852)
                                          -------------  --------------  -------------  -------------   -------------

Net Increase (Decrease) in Cash
and Temporary Cash Investments                  (6,638)            278         (6,360)             -          (6,360)

Cash and Temporary Cash Investments
at Beginning of Period                           6,703               -          6,703              -           6,703
                                          -------------  --------------  -------------  -------------   -------------

Cash and Temporary Cash Investments
at End of Period                             $      65         $   278       $    343       $      -       $     343
                                          =============  ==============  =============  =============   =============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                         NATIONAL FUEL EXPLORATION CORPORATION
                                    CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
                                     FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                (THOUSANDS OF DOLLARS)

                                                        National Fuel                                     Consolidated
                                       National Fuel     Exploration                                      National Fuel
                                        Exploration      Acquisition     Total Before                      Exploration
                                        Corporation      Corporation     Eliminations    Eliminations      Corporation
                                       --------------   --------------  ---------------  --------------   --------------

Net Income (Loss) Available
  for Common Stock                         $(101,855)      $ (74,368)       $ (176,223)        $78,450        $ (97,773)
                                       --------------   -------------   ---------------  --------------   --------------
Other Comprehensive Income
  (Loss), Before Tax:
  Foreign Currency
    Translation Adjustment                   (14,850)         (2,856)          (17,706)          2,856          (14,850)
  Unrealized Gain on Derivative
    Financial Instruments During
    the Period                                17,273           3,489            20,762          (3,198)          17,564
  Reclassification Adjustment for
    Realized Losses on Derivative
    Financial Instruments in
    Net Income                                13,741               -            13,741               -           13,741
                                       --------------   -------------   ---------------  --------------   --------------
Other Comprehensive Income
  (Loss), Before Tax                          16,164             633            16,797            (342)          16,455
Income Tax Expense Related to
  Unrealized Gain on Derivative
  Financial Instruments During
  the Period                                   7,532           1,496             9,028          (1,496)           7,532
Reclassification Adjustment for
  Income Tax Benefit on Losses
  on Derivative Financial
  Instruments Realized in
  Net Income                                   5,746               -             5,746               -            5,746
                                       --------------   -------------   ---------------  --------------   --------------

Income Taxes - Net                            13,278           1,496            14,774          (1,496)          13,278
                                       --------------   -------------   ---------------  --------------   --------------
Other Comprehensive Income
  (Loss), Before Cumulative
  Effect, Net of Tax                           2,886            (863)            2,023           1,154            3,177

Cumulative Effect of
  Change in Accounting                       (18,080)              -           (18,080)              -          (18,080)
                                       --------------   -------------   ---------------  --------------   --------------

Other Comprehensive Income
  (Loss), After Cumulative
   Effect, Net of Tax                        (15,194)           (863)          (16,057)          1,154          (14,903)
                                       --------------   -------------   ---------------  --------------   --------------

Comprehensive Income (Loss)                $(117,049)      $ (75,231)       $ (192,280)        $79,604        $(112,676)
                                       ==============   =============   ===============  ==============   ==============



See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

                                 HORIZON ENERGY DEVELOPMENT, INC. AND SUBSIDIARIES
                                            CONSOLIDATING BALANCE SHEET
                                               AT SEPTEMBER 30, 2001
                                               (THOUSANDS OF DOLLARS)

                                    Horizon       Horizon
                                    Energy         Energy        Sceptre                                 Consolidated
                                  Development,    Holdings        Power      Total Before                Horizon and
                                     Inc.       (Consolidated)   Company     Eliminations  Eliminations  Subsidiaries
                                  ------------  -------------  ------------  ------------  ------------  ------------

ASSETS

PROPERTY, PLANT & EQUIPMENT         $     $ -      $ 271,073     $       -     $ 271,073    $        -     $ 271,073
  Less:  Accumulated DD&A                   -         92,824             -        92,824             -        92,824
                                  ------------  -------------  ------------  ------------  ------------  ------------
                                            -        178,249             -       178,249             -       178,249
                                  ------------  -------------  ------------  ------------  ------------  ------------
CURRENT ASSETS:
  Cash and Temporary Cash Investments    (140)         5,938            11         5,809             -         5,809
  Notes Receivable - Intercompany         920              -             -           920          (120)          800
  Allowance for Uncollectible Accounts      -           (762)            -          (762)            -          (762)
  Accounts Receivable - Intercompany    2,819              -             -         2,819        (2,783)           36
  Accounts Receivable                       -          5,707            10         5,717             -         5,717
  Unbilled Utility Revenue                  -          3,840             -         3,840             -         3,840
  Materials and Supplies                    -          3,014             -         3,014             -         3,014
  Prepayments                               -             27             -            27             -            27
                                  ------------  -------------  ------------  ------------  ------------  ------------
                                        3,599         17,764            21        21,384        (2,903)       18,481
                                  ------------  -------------  ------------  ------------  ------------  ------------
OTHER ASSETS:
  Investment in Associated Companies  116,440              -             -       116,440      (116,440)            -
  Other Assets                              -          9,590             -         9,590             -         9,590
  Notes Receivable - Intercompany           -              -             -             -             -             -
  Deferred Charges                         40              -             -            40             -            40
                                  ------------  -------------  ------------  ------------  ------------  ------------
                                      116,480          9,590             -       126,070      (116,440)        9,630
                                  ------------  -------------  ------------  ------------  ------------  ------------
TOTAL ASSETS                        $ 120,079      $ 205,603     $      21     $ 325,703    $ (119,343)    $ 206,360
                                  ============  =============  ============  ============  ============  ============

CAPITALIZATION & LIABILITIES

CAPITALIZATION:
  Common Stock                      $       5      $       2      $ 11,524     $  11,531    $  (11,526)    $     $ 5
  Paid - in - Capital                  38,246        115,056             -       153,302      (115,056)       38,246
  Capital Contribution from Horizon         -              -             -             -             -             -
  Earnings Reinvested in the Business  (9,143)        17,044        (7,576)          325        (9,468)       (9,143)
                                  ------------  -------------  ------------  ------------  ------------  ------------
  Total Common Shareholder Equity
    Before Items of Other
    Comprehensive Income               29,108        132,102         3,948       165,158      (136,050)       29,108
  Accumulated Other Comprehensive
    Income                            (20,253)       (19,610)            -       (39,863)       19,610       (20,253)
                                  ------------  -------------  ------------  ------------  ------------  ------------
Total Comprehensive Shareholders'
  Equity                                8,855        112,492         3,948       125,295      (116,440)        8,855
                                  ------------  -------------  ------------  ------------  ------------  ------------
  Long-Term Debt, Net of Current
    Portion                                 -         22,475             -        22,475             -        22,475
  Notes Payable - Intercompany         90,000              -             -        90,000             -        90,000
                                  ------------  -------------  ------------  ------------  ------------  ------------

Total Capitalization                   98,855        134,967         3,948       237,770      (116,440)      121,330
                                  ------------  -------------  ------------  ------------  ------------  ------------
  Minority Interest in Foreign
    Subsidiaries                            -         22,324             -        22,324             -        22,324
                                  ------------  -------------  ------------  ------------  ------------  ------------

CURRENT AND ACCRUED LIABILITIES:
  Notes Payable - Intercompany         13,700            120             -        13,820          (120)       13,700
  Notes Payable to Banks                    -         14,098             -        14,098             -        14,098
  Current Portion of Long-Term Debt         -          9,002             -         9,002             -         9,002
  Accounts Payable                        126          8,990            15         9,131          (277)        8,854
  Accounts Payable - Intercompany       3,844          2,506             -         6,350        (2,506)        3,844
  Other Accruals and Current
    Liabilities                         3,796          2,965        (3,923)        2,838             -         2,838
                                  ------------  -------------  ------------  ------------  ------------  ------------
                                       21,466         37,681        (3,908)       55,239        (2,903)       52,336
                                  ------------  -------------  ------------  ------------  ------------  ------------
DEFERRED CREDITS:
  Accumulated Deferred Income Taxes      (718)         9,961           (20)        9,223             -         9,223
  Fair Value of Deriv. Financial
    Instruments                             -            581             -           581             -           581
  Other Deferred Credits                  476             89             1           566             -           566
                                  ------------  -------------  ------------  ------------  ------------  ------------
                                         (242)        10,631           (19)       10,370             -        10,370
                                  ------------  -------------  ------------  ------------  ------------  ------------

TOTAL CAPITALIZATION & LIABILITIES  $ 120,079      $ 205,603      $     21     $ 325,703    $ (119,343)    $ 206,360
                                  ============  =============  ============  ============  ============  ============

See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                 HORIZON ENERGY DEVELOPMENT, INC. AND SUBSIDIARIES
                                         CONSOLIDATING STATEMENT OF INCOME
                                    FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                               (THOUSANDS OF DOLLARS)

                                    Horizon
                                    Energy      Horizon Energy   Sceptre                                 Consolidated
                                  Development,    Holdings        Power      Total Before  Eliminations  Horizon and
                                     Inc.       (Consolidated)   Company     Eliminations    (Dr) Cr     Subsidiaries
                                  ------------  -------------  ------------  ------------  ------------  ------------

OPERATING REVENUE:                   $      -       $ 97,937           $ -      $ 97,937      $    (27)     $ 97,910
                                  ------------  -------------  ------------  ------------  ------------  ------------

OPERATING EXPENSE:
Fuel Used in Heat and
  Electric Generation                       -         53,334             -        53,334             -        53,334
Operation                               3,738         19,403             -        23,141           (26)       23,115
Maintenance                                 -             38             -            38             -            38
Property, Franchise & Other Taxes          15          2,169             -         2,184             -         2,184
Depreciation, Depletion and
  Amortization                             25         12,609             -        12,634             -        12,634
Income Taxes                           (3,416)         3,669             -           253             -           253
                                  ------------  -------------  ------------  ------------  ------------  ------------
                                          362         91,222             -        91,584           (26)       91,558
                                  ------------  -------------  ------------  ------------  ------------  ------------
Operating Income (Loss)                  (362)         6,715             -         6,353            (1)        6,352
                                  ------------  -------------  ------------  ------------  ------------  ------------

OTHER INCOME:
Unremitted Earnings of
  Subsidiaries                          3,287              -             -         3,287        (3,287)            -
Interest - Intercompany                    24              -             -            24            (1)           23
Other                                     409          1,482             -         1,891             -         1,891
                                  ------------  -------------  ------------  ------------  ------------  ------------

                                        3,720          1,482             -         5,202        (3,288)        1,914
                                  ------------  -------------  ------------  ------------  ------------  ------------

Income (Loss) Before
  Interest Charges and
  and Minority Interest in
  Foreign Subsidiaries                  3,358          8,197             -        11,555        (3,289)        8,266
                                  ------------  -------------  ------------  ------------  ------------  ------------

INTEREST CHARGES:
Interest on Long-Term Debt                  -          3,565             -         3,565             -         3,565
Interest-Intercompany                   5,738              1             -         5,739            (1)        5,738
Other Interest                            661              1             -           662             -           662
                                  ------------  -------------  ------------  ------------  ------------  ------------
                                        6,399          3,567             -         9,966            (1)        9,965
                                  ------------  -------------  ------------  ------------  ------------  ------------
Minority Interest in
  Foreign Subsidiaries                      -         (1,342)            -        (1,342)            -        (1,342)
                                  ------------  -------------  ------------  ------------  ------------  ------------

Net Income (Loss) Available
  for Common Stock                   $ (3,041)      $  3,288           $ -      $    247      $ (3,288)     $ (3,041)
                                  ============  =============  ============  ============  ============  ============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                 HORIZON ENERGY DEVELOPMENT, INC. AND SUBSIDIARIES
                           CONSOLIDATING STATEMENT OF EARNINGS REINVESTED IN THE BUSINESS
                                    FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                               (THOUSANDS OF DOLLARS)

                                    Horizon
                                    Energy      Horizon Energy   Sceptre                                 Consolidated
EARNINGS REINVESTED               Development,    Holdings        Power      Total Before  Eliminations  Horizon and
IN THE BUSINESS                      Inc.       (Consolidated)   Company     Eliminations    (Dr) Cr     Subsidiaries
                                  ------------  -------------  ------------  ------------  ------------  ------------

Balance at Beginning of Year         $ (6,102)      $ 13,757      $ (7,576)        $  79      $ (6,181)     $ (6,102)

Net Income (Loss) Available
  for Common Stock                     (3,041)         3,288             -           247        (3,288)       (3,041)

Dividends on Common
  Stock                                     -              -             -             -             -             -
                                  ------------  -------------  ------------  ------------  ------------  ------------

Balance at End of Year               $ (9,143)      $ 17,045      $ (7,576)        $ 326      $ (9,469)     $ (9,143)
                                  ============  =============  ============  ============  ============  ============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                 HORIZON ENERGY DEVELOPMENT, INC. AND SUBSIDIARIES
                                       CONSOLIDATING STATEMENT OF CASH FLOWS
                                    FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                               (THOUSANDS OF DOLLARS)

                                         Horizon
                                         Energy      Horizon Energy  Sceptre     Total Before                Consolidated
                                       Development,   Holdings        Power      Eliminations  Eliminations  Horizon and
                                          Inc.       (Consolidated)  Company     & Adjustments & Adjustments Subsidiaries
                                       ------------  --------------------------  ------------  ------------  ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)                        $ (3,041)      $ 3,288          $  -       $   247      $ (3,288)     $ (3,041)
Adjustments to Reconcile Net Income
  to Net Cash Provided by Operating
  Activities:
Unremitted Earnings of Subsidiaries        (3,287)            -             -        (3,287)        3,287             -
Depreciation, Depletion &
  Amortization                                 25        12,609             -        12,634             -        12,634
Deferred Income Taxes                          22           188             -           210             -           210
Minority Interest in Foreign
  Subsidiaries                                  -         1,342             -         1,342             -         1,342
Other                                         130         1,084             -         1,214             -         1,214

Change in:
Accounts Receivable - Intercompany           (263)            -             -          (263)          227           (36)
Receivables and Unbilled Utility
  Revenue                                       -          (402)            -          (402)            -          (402)
Material and Supplies                           -           932             -           932             -           932
Prepayments                                     -            33             -            33             -            33
Accounts Payable                               15          (157)            -          (142)         (227)         (369)
Accounts Payable - Intercompany               466             -             -           466             -           466
Other Accruals and Current
  Liabilities                               2,062         3,800             -         5,862             -         5,862
Other Assets                                    5        (1,350)            -        (1,345)            -        (1,345)
Other Liabilities                            (403)           87             -          (316)            -          (316)
                                      ------------  ------------  ------------  ------------  ------------  ------------

Net Cash Provided by (Used in)
Operations                                 (4,269)       21,454             -        17,185            (1)       17,184
                                      ------------  ------------  ------------  ------------  ------------  ------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures                            -       (15,587)            -       (15,587)            -       (15,587)
Investment in Associated Companies              -             -             -             -             -             -
Other                                           -         7,007             -         7,007             -         7,007
                                      ------------  ------------  ------------  ------------  ------------  ------------
Net Cash Provided by (Used In)
Investing  Activities                           -        (8,580)            -        (8,580)            -        (8,580)
                                      ------------  ------------  ------------  ------------  ------------  ------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Change in Notes Payable to Banks                -        (5,009)            -        (5,009)            -        (5,009)
Change in Notes Payable - Intercompany      4,080           120             -         4,200             -         4,200
Return of Capital Contribution                  -             -             -             -             -             -
Net Proceeds from Issuance of
  Long-Term Debt                                -        12,927             -        12,927             -        12,927
Reduction of Long-Term Debt                     -       (20,724)            -       (20,724)            -       (20,724)
                                      ------------  ------------  ------------  ------------  ------------  ------------

Net Cash Provided by (Used in)
  Financing Activities                      4,080       (12,686)            -        (8,606)            -        (8,606)
                                      ------------  ------------  ------------  ------------  ------------  ------------

Effect of Exchange Rates on Cash                -           208             -           208             -           208
                                      ------------  ------------  ------------  ------------  ------------  ------------

Net Increase (Decrease) in Cash
  and Temporary Cash Investments             (189)          396             -           207            (1)          206

Cash and Temporary Cash Investments
  of Beginning of Period                       49         5,542            11         5,602             -         5,602
                                      ------------  ------------  ------------  ------------  ------------  ------------

Cash and Temporary Cash
  Investments at End of Year             $   (140)      $ 5,938          $ 11       $ 5,809      $     (1)     $  5,808
                                      ============  ============  ============  ============  ============  ============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                 HORIZON ENERGY DEVELOPMENT, INC. AND SUBSIDIARIES
                                  CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
                                    FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                               (THOUSANDS OF DOLLARS)

                                    Horizon
                                    Energy      Horizon Energy   Sceptre     Total Before                Consolidated
                                  Development,    Holdings        Power      Eliminations  Eliminations  Horizon and
                                     Inc.       (Consolidated)   Company     & Adjustments   (Dr) Cr     Subsidiaries
                                  ------------  -------------  ------------  ------------  ------------  ------------

Net Income (Loss) Available for
  Common Stock                       $ (3,041)      $  3,288           $ -      $    247     $  (3,288)     $ (3,041)
                                  ------------  -------------  ------------  ------------  ------------  ------------

Other Comprehensive Income (Loss) :
  Foreign Currency Translation
    Adjustment                          7,692          7,692             -        15,384        (7,692)        7,692
  Unrealized Gain / (Loss) on
    Derivative Financial
    Instruments During
    the Period                           (139)          (139)            -          (278)          139          (139)
  Reclassification Adjustment
    for Realized (Gains)/Losses on
    Derivative Financial Instruments
    in Net Income                         796            796             -         1,592          (796)          796
                                  ------------  -------------  ------------  ------------  ------------  ------------
Other Comprehensive Income (Loss),
  Before Tax                            8,349          8,349             -        16,698        (8,349)        8,349

  Income Tax Expense/(Benefit)
    Related to Unrealized Gain/
    (Loss) on Derivative
    Financial Instruments
    During the Period                     (43)           (43)            -           (86)           43           (43)
  Reclassification Adjustment
    for Income Tax Benefit/(Expense)
    on Derivative Financial
    Instruments in Net Income             247            247             -           494          (247)          247
                                  ------------  -------------  ------------  ------------  ------------  ------------
Income Taxes - Net                        204            204             -           408          (204)          204
                                  ------------  -------------  ------------  ------------  ------------  ------------
Other Comprehensive Income (Loss),
  Before Cumulative Effect,
  Net of Tax                            8,145          8,145             -        16,290        (8,145)        8,145
                                  ------------  -------------  ------------  ------------  ------------  ------------

Cumulative Effect of
  Change in Accounting                   (793)          (793)            -        (1,586)          793          (793)
                                  ------------  -------------  ------------  ------------  ------------  ------------

Other Comprehensive Income (Loss),
  After Cumulative Effect
  Net of Tax                            7,352          7,352             -        14,704        (7,352)        7,352
                                  ------------  -------------  ------------  ------------  ------------  ------------

Comprehensive Income (Loss)          $  4,311       $ 10,640           $ -      $ 14,951     $ (10,640)     $  4,311
                                  ============  =============  ============  ============  ============  ============


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                     HORIZON ENERGY HOLDINGS
                                   CONSOLIDATING BALANCE SHEET
                                      AT SEPTEMBER 30, 2001
                                      (THOUSANDS OF DOLLARS)

                                                                                             Consolidated
                                  Horizon     Horizon Energy                                    Horizon
                                   Energy     Development B.V.  Total Before                 Energy Holdings
                                  Holdings    (Consolidated)    Eliminations   Eliminations  and Subsidiaries
                                 -----------  --------------    ------------   -----------   ----------------

ASSETS

PROPERTY, PLANT & EQUIPMENT       $       -     $ 271,073        $ 271,073     $        -        $ 271,073
  Less:  Accumulated DD&A                 -        92,824           92,824              -           92,824
                                 -----------  ------------      -----------    -----------      -----------
                                          -       178,249          178,249              -          178,249
                                 -----------  ------------      -----------    -----------      -----------
CURRENT ASSETS:
  Cash and Temporary Cash Investments     -         5,938            5,938              -            5,938
  Notes Receivable - Intercompany         -             -                -              -                -
  Allowance for Uncollectible Accounts    -          (762)            (762)             -             (762)
  Accounts Receivable - Intercompany      -             -                -              -                -
  Accounts Receivable                     -         5,707            5,707              -            5,707
  Unbilled Utility Revenue                -         3,840            3,840              -            3,840
  Materials and Supplies                  -         3,014            3,014              -            3,014
  Prepayments                             -            27               27              -               27
                                 -----------  ------------      -----------    -----------      -----------
                                          -        17,764           17,764              -           17,764
                                 -----------  ------------      -----------    -----------      -----------
OTHER ASSETS:
  Investment in Associated
    Companies                       112,492             -          112,492       (112,492)               -
  Other Assets                            -         9,590            9,590              -            9,590
  Notes Receivable - Intercompany         -             -                -              -                -
  Deferred Charges                        -             -                -              -                -
                                 -----------  ------------      -----------    -----------      -----------
                                    112,492         9,590          122,082       (112,492)           9,590
                                 -----------  ------------      -----------    -----------      -----------
TOTAL ASSETS                      $ 112,492     $ 205,603        $ 318,095     $ (112,492)       $ 205,603
                                 ===========  ============      ===========    ===========      ===========

CAPITALIZATION & LIABILITIES

CAPITALIZATION:
  Common Stock                    $       2     $      29        $      31     $      (29)       $       2
  Paid - in - Capital               115,056       109,921          224,977       (109,921)         115,056
  Earnings Reinvested
    in the Business                  17,044        22,794           39,838        (22,794)          17,044
                                 -----------  ------------     ------------    -----------      -----------
  Total Common Shareholder
    Equity Before Items of
    Other Comprehensive Income      132,102       132,744          264,846       (132,744)         132,102
  Accumulated Other
    Comprehensive Income            (19,610)      (20,252)         (39,862)        20,252          (19,610)
                                 -----------  ------------      -----------    -----------      -----------
Total Comprehensive
  Shareholders' Equity              112,492       112,492          224,984       (112,492)         112,492
                                 -----------  ------------      -----------    -----------      -----------
  Long-Term Debt, Net of Current
    Portion                               -        22,475           22,475              -           22,475
  Notes Payable - Intercompany            -             -                -              -                -
                                 -----------  ------------      -----------    -----------      -----------

Total Capitalization                112,492       134,967          247,459       (112,492)         134,967
                                 -----------  ------------      -----------    -----------      -----------
  Minority Interest in Foreign
    Subsidiaries                          -        22,324           22,324              -           22,324
                                 -----------  ------------      -----------    -----------      -----------

CURRENT AND ACCRUED LIABILITIES:
  Notes Payable - Intercompany            -           120              120              -              120
  Notes Payable to Banks                  -        14,098           14,098              -           14,098
  Current Portion of Long-Term Debt       -         9,002            9,002              -            9,002
  Accounts Payable                        -         8,990            8,990              -            8,990
  Accounts Payable - Intercompany         -         2,506            2,506              -            2,506
  Other Accruals and Current
    Liabilities                           -         2,965            2,965              -            2,965
                                 -----------  ------------      -----------    -----------      -----------
                                          -        37,681           37,681              -           37,681
                                 -----------  ------------      -----------    -----------      -----------
DEFERRED CREDITS:
  Accumulated Deferred Income Taxes       -         9,961            9,961              -            9,961
  Fair Value of Deriv.
    Financial Instruments                 -           581              581              -              581
  Other Deferred Credits                  -            89               89              -               89
                                 -----------  ------------      -----------    -----------      -----------
                                          -        10,631           10,631              -           10,631
                                 -----------  ------------      -----------    -----------      -----------

TOTAL CAPITALIZATION &
  LIABILITIES                     $ 112,492     $ 205,603        $ 318,095     $ (112,492)       $ 205,603
                                 ===========  ============      ===========    ===========      ===========

See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                     HORIZON ENERGY HOLDINGS
                                CONSOLIDATING STATEMENT OF INCOME
                           FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                      (THOUSANDS OF DOLLARS)

                                                                                             Consolidated
                                  Horizon     Horizon Energy                                Horizon Energy
                                   Energy     Development B.V.  Total Before   Eliminations  Holdings and
                                  Holdings    (Consolidated)    Eliminations    (Dr) Cr      Subsidiaries
                                 -----------  ------------      -------------  ------------  -------------

OPERATING REVENUE:                 $      -      $ 97,937        $ 97,937      $       -        $ 97,937
                                 -----------  ------------     -----------    -----------     -----------

OPERATING EXPENSE:
Fuel Used in Heat and
  Electric Generation                     -        53,334          53,334              -          53,334
Operation                                 -        19,403          19,403              -          19,403
Maintenance                               -            38              38              -              38
Property, Franchise & Other Taxes         -         2,169           2,169              -           2,169
Depreciation, Depletion and
  Amortization                            -        12,609          12,609              -          12,609
Income Taxes                              -         3,669           3,669              -           3,669
                                 -----------  ------------     -----------    -----------     -----------
                                          -        91,222          91,222              -          91,222
                                 -----------  ------------     -----------    -----------     -----------
Operating Income (Loss)                   -         6,715           6,715              -           6,715
                                 -----------  ------------     -----------    -----------     -----------

OTHER INCOME:
Unremitted Earnings of
  Subsidiaries                        3,287             -           3,287         (3,287)              -
Interest - Intercompany                   -             -               -              -               -
Other                                     -         1,482           1,482              -           1,482
                                 -----------  ------------     -----------    -----------     -----------

                                      3,287         1,482           4,769         (3,287)          1,482
                                 -----------  ------------     -----------    -----------     -----------

Income (Loss) Before
  Interest Charges and
  and Minority Interest in
  Foreign Subsidiaries                3,287         8,197          11,484         (3,287)          8,197
                                 -----------  ------------     -----------    -----------     -----------

INTEREST CHARGES:
Interest on Long-Term Debt                -         3,565           3,565              -           3,565
Interest-Intercompany                     -             1               1              -               1
Other Interest                            -             1               1              -               1
                                 -----------  ------------     -----------    -----------     -----------
                                          -         3,567           3,567              -           3,567
                                 -----------  ------------     -----------    -----------     -----------
Minority Interest in
  Foreign Subsidiaries                    -        (1,342)         (1,342)             -          (1,342)
                                 -----------  ------------     -----------    -----------     -----------

Net Income (Loss) Available
  for Common Stock                  $ 3,287      $  3,288        $  6,575       $ (3,287)       $  3,288
                                 ===========  ============     ===========    ===========     ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                     HORIZON ENERGY HOLDINGS
                  CONSOLIDATING STATEMENT OF EARNINGS REINVESTED IN THE BUSINESS
                           FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                      (THOUSANDS OF DOLLARS)

                                                                                             Consolidated
                                  Horizon     Horizon Energy                                Horizon Energy
EARNINGS REINVESTED                Energy     Development B.V.  Total Before  Eliminations  Holdings and
IN THE BUSINESS                   Holdings    (Consolidated)    Eliminations    (Dr) Cr      Subsidiaries
                                 -----------  ------------      -----------   ------------   -----------

Balance at Beginning of Year       $ 13,757      $ 19,507         $ 33,264     $ (19,507)      $ 13,757

Net Income (Loss) Available
for Common Stock                      3,287         3,288            6,575        (3,287)         3,288

Dividends on Common
Stock                                     -             -                -             -              -
                                 -----------  ------------      -----------   -----------    -----------

Balance at End of Year             $ 17,044      $ 22,795         $ 39,839     $ (22,794)      $ 17,045
                                 ===========  ============      ===========   ===========    ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

                                   HORIZON ENERGY HOLDINGS
                            CONSOLIDATING STATEMENT OF CASH FLOWS
                         FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                    (THOUSANDS OF DOLLARS)

                                                                                                   Consolidated
                                      Horizon     Horizon Energy     Total Before                 Horizon Energy
                                       Energy     Development B.V.   Eliminations                  Holdings and
                                      Holdings    (Consolidated)     & Adjustments  Eliminations   Subsidiaries
                                     -----------  ----------------   -------------  ------------   ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)                       $ 3,287      $ 3,288            $ 6,575     $ (3,287)        $ 3,288
Adjustments to Reconcile Net Income
  to Net Cash Provided by Operating
  Activities:
  Unremitted Earnings of Subsidiaries    (3,287)           -             (3,287)       3,287               -
  Depreciation, Depletion &
    Amortization                              -       12,609             12,609            -          12,609
  Deferred Income Taxes                       -          188                188            -             188
  Minority Interest in Foreign
    Subsidiaries                              -        1,342              1,342            -           1,342
  Other                                       -        1,084              1,084            -           1,084

Change in:
  Accounts Receivable - Intercompany          -            -                  -            -               -
  Receivables and Unbilled Utility
    Revenue                                   -         (402)              (402)           -            (402)
  Material and Supplies                       -          932                932            -             932
  Prepayments                                 -           33                 33            -              33
  Accounts Payable                            -         (157)              (157)           -            (157)
  Accounts Payable - Intercompany             -            -                  -            -               -
  Other Accruals and Current
    Liabilities                               -        3,800              3,800            -           3,800
  Other Assets                                -       (1,350)            (1,350)           -          (1,350)
  Other Liabilities                           -           87                 87            -              87
                                     -----------  -----------        -----------  -----------     -----------

Net Cash Provided by (Used in)
  Operations                                  -       21,454             21,454            -          21,454
                                     -----------  -----------        -----------  -----------     -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures                          -      (15,587)           (15,587)           -         (15,587)
Investment in Associated Companies            -            -                  -            -               -
Other                                         -        7,007              7,007            -           7,007
                                     -----------  -----------        -----------  -----------     -----------
Net Cash Provided by (Used In)
  Investing  Activities                       -       (8,580)            (8,580)           -          (8,580)
                                     -----------  -----------        -----------  -----------     -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
Change in Notes Payable to Banks              -       (5,009)            (5,009)           -          (5,009)
Change in Notes Payable - Intercompany        -          120                120            -             120
Net Proceeds from Issuance of
  Long-Term Debt                              -       12,927             12,927            -          12,927
Reduction of Long-Term Debt                   -      (20,724)           (20,724)           -         (20,724)
                                     -----------  -----------        -----------  -----------     -----------

Net Cash Provided by (Used in)
  Financing Activities                        -      (12,686)           (12,686)           -         (12,686)
                                     -----------  -----------        -----------  -----------     -----------

Effect of Exchange Rates on Cash              -          208                208            -             208
                                     -----------  -----------        -----------  -----------     -----------

Net Increase (Decrease) in Cash
  and Temporary Cash Investments              -          396                396            -             396

Cash and Temporary Cash Investments
  of Beginning of Period                      -        5,542              5,542            -           5,542
                                     -----------  -----------        -----------  -----------     -----------

Cash and Temporary Cash
  Investments at End of Year            $     -      $ 5,938            $ 5,938     $      -         $ 5,938
                                     ===========  ===========        ===========  ===========     ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                     HORIZON ENERGY HOLDINGS
                         CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
                           FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                      (THOUSANDS OF DOLLARS)

                                                                                                  Consolidated
                                      Horizon     Horizon Energy    Total Before                 Horizon Energy
                                       Energy     Development B.V.  Eliminations   Eliminations   Holdings and
                                      Holdings    (Consolidated)    & Adjustments    (Dr) Cr      Subsidiaries
                                     -----------  ---------------   -------------  ----------   ---------------

Net Income (Loss) Available for
  Common Stock                         $  3,287      $  3,288         $  6,575      $  (3,287)     $  3,288
                                     -----------  ------------      -----------    -----------   -----------

Other Comprehensive Income (Loss) :
  Foreign Currency Translation
    Adjustment                            7,692         7,692           15,384         (7,692)        7,692
  Unrealized Gain / (Loss) on
    Derivative Financial
    Instruments During
    the Period                             (139)         (139)            (278)           139          (139)
  Reclassification Adjustment
    for Realized (Gains)/Losses on
    Derivative Financial Instruments
    in Net Income                           796           796            1,592           (796)          796
                                     -----------  ------------      -----------    -----------   -----------
Other Comprehensive Income (Loss),
  Before Tax                              8,349         8,349           16,698         (8,349)        8,349

  Income Tax Expense/(Benefit)
    Related to Unrealized Gain/
    (Loss) on Derivative
    Financial Instruments
    During the Period                       (43)          (43)             (86)            43           (43)
  Reclassification Adjustment for
    Income Tax Benefit/(Expense)
    on Derivative Financial
    Instruments in Net Income               247           247              494           (247)          247
                                     -----------  ------------      -----------    -----------   -----------
Income Taxes - Net                          204           204              408           (204)          204
                                     -----------  ------------      -----------    -----------   -----------
Other Comprehensive Income (Loss),
  Before Cumulative Effect,
  Net of Tax                              8,145         8,145           16,290         (8,145)        8,145
                                     -----------  ------------      -----------    -----------   -----------

Cumulative Effect of
  Change in Accounting                     (793)         (793)          (1,586)           793          (793)
                                     -----------  ------------      -----------    -----------   -----------

Other Comprehensive Income (Loss),
  After Cumulative Effect
  Net of Tax                              7,352         7,352           14,704         (7,352)        7,352
                                     -----------  ------------      -----------    -----------   -----------

Comprehensive Income (Loss)            $ 10,639      $ 10,640         $ 21,279      $ (10,639)     $ 10,640
                                     ===========  ============      ===========    ===========   ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

                                                                                        HORIZON ENERGY DEVELOPMENT, B.V.
                                                                                          CONSOLIDATING BALANCE SHEET
                                                                                             AT SEPTEMBER 30, 2001
                                                                                             (THOUSANDS OF DOLLARS)

                                                             United
                                                          Energy, a.s.                                                                                                                          Consolidated
                                                              (UE)                  Power                                   Horizon Energy         Total Before                                 Horizon B.V.
                                   Horizon B.V.          (Consolidated)          Development             Kromeriz         Development, s.r.o.      Eliminations          Eliminations         and Subsidiaries
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

ASSETS

PROPERTY, PLANT & EQUIPMENT               $       -              $ 269,717                $    -                $ 1,135               $   221             $ 271,073            $        -              $ 271,073
  Less:  Accumulated DD&A                         -                 91,511                     -                  1,135                   178                92,824                     -                 92,824
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
                                                  -                178,206                     -                      -                    43               178,249                     -                178,249
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
CURRENT ASSETS:
  Cash and Temporary Cash Investments            34                  4,426                     2                      6                 1,470                 5,938                     -                  5,938
  Notes Receivable - Intercompany                18                      -                     -                      -                    54                    72                   (72)                     -
  Allowance for Uncollectible Accounts            -                   (762)                    -                      -                     -                  (762)                    -                   (762)
  Accounts Receivable - Intercompany              -                      -                     -                      -                   115                   115                  (115)                     -
  Accounts Receivable                             -                  5,438                     -                    176                    93                 5,707                     -                  5,707
  Unbilled Utility Revenue                        -                  3,840                     -                      -                     -                 3,840                     -                  3,840
  Materials and Supplies                          -                  3,014                     -                      -                     -                 3,014                     -                  3,014
  Prepayments                                     -                     24                     -                      -                     3                    27                     -                     27
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
                                                 52                 15,980                     2                    182                 1,735                17,951                  (187)                17,764
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
OTHER ASSETS:
  Investment in Associated Companies        115,093                      -                     -                      -                     -               115,093              (115,093)                     -
  Other Assets                                  (27)                 9,059                     -                    (35)                  593                 9,590                     -                  9,590
  Notes Receivable - Intercompany                 -                      -                     -                      -                    95                    95                   (95)                     -
  Deferred Charges                                -                      -                     -                      -                     -                     -                     -                      -
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
                                            115,066                  9,059                     -                    (35)                  688               124,778              (115,188)                 9,590
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
TOTAL ASSETS                              $ 115,118              $ 203,245                   $ 2                $   147               $ 2,466             $ 320,978            $ (115,375)             $ 205,603
                                ====================   ====================  ====================  =====================  ====================  ====================  ====================   ====================

CAPITALIZATION & LIABILITIES

CAPITALIZATION:
  Common Stock                            $      29              $  59,770                $ (506)               $ 1,524               $ 1,779             $  62,596            $  (62,567)             $      29
  Paid - in - Capital                       109,921                 50,804                 1,623                    354                     -               162,702               (52,781)               109,921
  Earnings Reinvested in the Business        22,794                 21,619                  (258)                (1,642)                  770                43,283               (20,489)                22,794
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
  Total Common Shareholder
    Equity Before Items of
    Other Comprehensive Income              132,744                132,193                   859                    236                 2,549               268,581              (135,837)               132,744
  Accumulated Other Comprehensive Income    (20,252)               (19,374)                 (857)                  (299)                 (214)              (40,996)               20,744                (20,252)
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
Total Comprehensive Shareholders'
  Equity                                    112,492                112,819                     2                    (63)                2,335               227,585              (115,093)               112,492
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
  Long-Term Debt, Net of Current
    Portion                                       -                 22,475                     -                      -                     -                22,475                     -                 22,475
  Notes Payable - Intercompany                    -                      -                     -                     82                     -                    82                   (82)                     -
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Total Capitalization                        112,492                135,294                     2                     19                 2,335               250,142              (115,175)               134,967
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
  Minority Interest in Foreign
    Subsidiaries                                  -                 22,324                     -                      -                     -                22,324                     -                 22,324
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

CURRENT AND ACCRUED LIABILITIES:
  Notes Payable - Intercompany                  120                      -                     -                      -                     -                   120                     -                    120
  Notes Payable to Banks                          -                 14,098                     -                      -                     -                14,098                     -                 14,098
  Current Portion of Long-Term Debt               -                  9,002                     -                      -                     -                 9,002                     -                  9,002
  Accounts Payable                                -                  8,976                     -                    140                    51                 9,167                  (177)                 8,990
  Accounts Payable - Intercompany             2,506                      -                     -                     23                     -                 2,529                   (23)                 2,506
  Other Accruals and Current
    Liabilities                                   -                  2,920                     -                    (35)                   80                 2,965                     -                  2,965
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
                                              2,626                 34,996                     -                    128                   131                37,881                  (200)                37,681
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
DEFERRED CREDITS:
  Accumulated Deferred Income Taxes               -                  9,961                     -                      -                     -                 9,961                     -                  9,961
  Fair Value of Deriv. Financial
    Instruments                                   -                    581                     -                      -                     -                   581                     -                    581
  Other Deferred Credits                          -                     89                     -                      -                     -                    89                     -                     89
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
                                                  -                 10,631                     -                      -                     -                10,631                     -                 10,631
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

TOTAL CAPITALIZATION & LIABILITIES        $ 115,118              $ 203,245                   $ 2                  $ 147               $ 2,466             $ 320,978            $ (115,375)             $ 205,603
                                ====================   ====================  ====================  =====================  ====================  ====================  ====================   ====================

See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                                                                        HORIZON ENERGY DEVELOPMENT, B.V.
                                                                                       CONSOLIDATING STATEMENT OF INCOME
                                                                                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                                                             (THOUSANDS OF DOLLARS)


                                                                                                                                                                                                Consolidated
                                                               UE                   Power                                   Horizon Energy         Total Before          Eliminations           Horizon B.V.
                                   Horizon B.V.          (Consolidated)          Development             Kromeriz         Development, s.r.o.      Eliminations             (Dr) Cr           and Subsidiaries
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

OPERATING REVENUE:                          $     -               $ 96,925                $    -               $    975                 $ 930              $ 98,830              $   (893)              $ 97,937
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

OPERATING EXPENSE:
Fuel Used in Heat and
  Electric Generation                             -                 52,601                     -                    733                     -                53,334                     -                 53,334
Operation                                        61                 18,646                   153                    781                   656                20,297                  (894)                19,403
Maintenance                                       -                      -                     -                     31                     7                    38                     -                     38
Property, Franchise & Other Taxes                 4                  2,070                     5                      1                    89                 2,169                     -                  2,169
Depreciation, Depletion and
  Amortization                                    -                 11,654                     -                    924                    31                12,609                     -                 12,609
Income Taxes                                      -                  3,664                     -                      -                     5                 3,669                     -                  3,669
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
                                                 65                 88,635                   158                  2,470                   788                92,116                  (894)                91,222
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
Operating Income (Loss)                         (65)                 8,290                  (158)                (1,495)                  142                 6,714                     1                  6,715
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

OTHER INCOME:
Unremitted Earnings of
  Subsidiaries                                3,354                      -                     -                      -                     -                 3,354                (3,354)                     -
Other                                             -                  1,209                     -                    190                    83                 1,482                     -                  1,482
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

                                              3,354                  1,209                     -                    190                    83                 4,836                (3,354)                 1,482
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Income (Loss) Before
  Interest Charges and
  and Minority Interest in
  Foreign Subsidiaries                        3,289                  9,499                  (158)                (1,305)                  225                11,550                (3,353)                 8,197
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

INTEREST CHARGES:
Interest on Long-Term Debt                        -                  3,554                     -                     11                     -                 3,565                     -                  3,565
Interest-Intercompany                             1                      -                     -                      -                     -                     1                     -                      1
Other Interest                                    1                      -                     -                      -                     -                     1                     -                      1
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
                                                  2                  3,554                     -                     11                     -                 3,567                     -                  3,567
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
Minority Interest in
  Foreign Subsidiaries                            -                 (1,342)                    -                      -                     -                (1,342)                    -                 (1,342)
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Net Income (Loss) Available
  for Common Stock                          $ 3,287               $  4,603                $ (158)              $ (1,316)                $ 225              $  6,641              $ (3,353)              $  3,288
                                ====================   ====================  ====================  =====================  ====================  ====================  ====================   ====================


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                                                                        HORIZON ENERGY DEVELOPMENT, B.V.
                                                                         CONSOLIDATING STATEMENT OF EARNINGS REINVESTED IN THE BUSINESS
                                                                                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                                                             (THOUSANDS OF DOLLARS)


                                                                                                                                                                                                Consolidated
EARNINGS REINVESTED                                            UE                   Power                                   Horizon Energy         Total Before          Eliminations           Horizon B.V.
IN THE BUSINESS                    Horizon B.V.          (Consolidated)          Development             Kromeriz         Development, s.r.o.      Eliminations             (Dr) Cr           and Subsidiaries
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Balance at Beginning of Year               $ 19,507               $ 17,017                $ (100)              $   (326)                $ 545              $ 36,643             $ (17,136)              $ 19,507

Net Income (Loss) Available
  for Common Stock                            3,287                  4,603                  (158)                (1,316)                  225                 6,641                (3,353)                 3,288

Dividends on Common
  Stock                                           -                      -                     -                      -                     -                     -                     -                      -
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Balance at End of Year                     $ 22,794               $ 21,620                $ (258)              $ (1,642)                $ 770              $ 43,284             $ (20,489)              $ 22,795
                                ====================   ====================  ====================  =====================  ====================  ====================  ====================   ====================


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

                                                                                         HORIZON ENERGY DEVELOPMENT, B.V.
                                                                                       CONSOLIDATING STATEMENT OF CASH FLOWS
                                                                                   FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                                                              (THOUSANDS OF DOLLARS)


                                                                                                                                                                                                         Consolidated
                                                                       UE                   Power                                   Horizon Energy          Total Before                                 Horizon B.V.
                                           Horizon B.V.          (Consolidated)          Development             Kromeriz         Development, s.r.o.       Eliminations          Eliminations         and Subsidiaries
                                        --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)                             $ 3,287                $ 4,603                $ (158)              $ (1,316)              $   225                $ 6,641              $ (3,353)               $ 3,288
Adjustments to Reconcile Net Income
  to Net Cash Provided by Operating
  Activities:
  Unremitted Earnings of Subsidiaries          (3,354)                     -                     -                      -                     -                 (3,354)                3,354                      -
  Depreciation, Depletion &
    Amortization                                    -                 11,654                     -                    924                    31                 12,609                     -                 12,609
  Deferred Income Taxes                             -                    182                     -                      -                     6                    188                     -                    188
  Minority Interest in Foreign
    Subsidiaries                                    -                  1,342                     -                      -                     -                  1,342                     -                  1,342
  Other                                             -                    578                     -                    483                    23                  1,084                     -                  1,084

Change in:
  Accounts Receivable - Intercompany                -                      -                     -                      -                    25                     25                   (25)                     -
  Receivables and Unbilled Utility
    Revenue                                         -                   (493)                    -                     92                    (1)                  (402)                    -                   (402)
  Material and Supplies                             -                    932                     -                      -                     -                    932                     -                    932
  Prepayments                                       -                      9                     -                      2                    22                     33                     -                     33
  Accounts Payable                                  -                   (234)                   (1)                    64                    (2)                  (173)                   16                   (157)
  Accounts Payable - Intercompany                   -                      -                     -                      -                     -                      -                     -                      -
  Other Accruals and Current
    Liabilities                                     -                  3,774                     -                    (35)                   61                  3,800                     -                  3,800
  Other Assets                                    (13)                (1,487)                  115                     35                     -                 (1,350)                    -                 (1,350)
  Other Liabilities                                 1                     86                     -                      -                     -                     87                     -                     87
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------

Net Cash Provided by (Used in)
  Operations                                      (79)                20,946                   (44)                   249                   390                 21,462                    (8)                21,454
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures                                -                (15,451)                    -                   (135)                   (1)               (15,587)                    -                (15,587)
Change in Notes
  Receivable - Intercompany                       (19)                     -                     -                      -                    (7)                   (26)                   26                      -
Investment in Associated Companies                  -                      -                     -                      -                     -                      -                     -                      -
Other                                            (100)                 7,383                     -                      -                  (276)                 7,007                     -                  7,007
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------
Net Cash Provided by (Used In)
  Investing  Activities                          (119)                (8,068)                    -                   (135)                 (284)                (8,606)                   26                 (8,580)
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Change in Notes Payable to Banks                    -                 (5,009)                    -                      -                     -                 (5,009)                    -                 (5,009)
Change in Notes Payable - Intercompany            120                      -                    18                      -                     -                    138                   (18)                   120
Net Proceeds from Issuance of
  Long-Term Debt                                    -                 12,927                     -                      -                     -                 12,927                     -                 12,927
Reduction of Long-Term Debt                         -                (20,724)                    -                      -                     -                (20,724)                    -                (20,724)
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------

Net Cash Provided by (Used in)
  Financing Activities                            120                (12,806)                   18                      -                     -                (12,668)                  (18)               (12,686)
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------

Effect of Exchange Rates on Cash                    -                    201                    26                   (134)                  115                    208                     -                    208
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------

Net Increase (Decrease) in Cash
  and Temporary Cash Investments                  (78)                   273                     -                    (20)                  221                    396                     -                    396

Cash and Temporary Cash Investments
  of Beginning of Period                          112                  4,153                     2                     26                 1,249                  5,542                     -                  5,542
                                  --------------------  ---------------------  --------------------  ---------------------  --------------------  ---------------------  --------------------   --------------------

Cash and Temporary Cash
  Investments at End of Year                  $    34                $ 4,426                $    2               $      6               $ 1,470                $ 5,938              $      -                $ 5,938
                                  ====================  =====================  ====================  =====================  ====================  =====================  ====================   ====================


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                                                                        HORIZON ENERGY DEVELOPMENT, B.V.
                                                                                CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
                                                                                  FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                                                             (THOUSANDS OF DOLLARS)

                                                                                                                                                                                                       Consolidated
                                                                      UE                   Power                                   Horizon Energy         Total Before          Eliminations           Horizon B.V.
                                          Horizon B.V.          (Consolidated)          Development             Kromeriz         Development, s.r.o.      Eliminations             (Dr) Cr           and Subsidiaries
                                      --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Net Income (Loss) Available for
  Common Stock                             $  3,287               $  4,603                $ (158)              $ (1,316)                $ 225              $  6,641             $  (3,353)              $  3,288
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Other Comprehensive Income (Loss) :
  Foreign Currency Translation
    Adjustment                                7,692                  7,592                  (276)                  (223)                  146                14,931                (7,239)                 7,692
  Unrealized Gain / (Loss) on
    Derivative Financial
    Instruments During
    the Period                                 (139)                  (139)                    -                      -                     -                  (278)                  139                   (139)
  Reclassification Adjustment
    for Realized (Gains)/Losses on
    Derivative Financial Instruments
    in Net Income                               796                    796                     -                      -                     -                 1,592                  (796)                   796
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
Other Comprehensive Income (Loss),
  Before Tax                                  8,349                  8,249                  (276)                  (223)                  146                16,245                (7,896)                 8,349

  Income Tax Expense/(Benefit)
    Related to Unrealized Gain/(Loss)
    on Derivative Financial
    Instruments During
    the Period                                  (43)                   (43)                    -                      -                     -                   (86)                   43                    (43)
  Reclassification Adjustment for
    Income Tax Benefit/(Expense)
    on Derivative Financial
    Instruments in Net Income                   247                    247                     -                      -                     -                   494                  (247)                   247
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
Income Taxes - Net                              204                    204                     -                      -                     -                   408                  (204)                   204
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------
Other Comprehensive Income (Loss),
  After Cumulative Effect,
  Net of Tax                                  8,145                  8,045                  (276)                  (223)                  146                15,837                (7,692)                 8,145
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Cumulative Effect of
  Change in Accounting                         (793)                  (793)                    -                      -                     -                (1,586)                  793                   (793)
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Other Comprehensive Income (Loss),
  After Cumulative Effect
  Net of Tax                                  7,352                  7,252                  (276)                  (223)                  146                14,251                (6,899)                 7,352
                                --------------------   --------------------  --------------------  ---------------------  --------------------  --------------------  --------------------   --------------------

Comprehensive Income (Loss)                $ 10,639               $ 11,855                $ (434)              $ (1,539)                $ 371              $ 20,892             $ (10,252)              $ 10,640
                                ====================   ====================  ====================  =====================  ====================  ====================  ====================   ====================


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

                                                       UNITED ENERGY, a.s.
                                                   CONSOLIDATING BALANCE SHEET
                                                      AT SEPTEMBER 30, 2001
                                                      (THOUSANDS OF DOLLARS)

                                                                   Jablonecka
                                                                   Teplarenska a                                        Consolidated
                                                      Teplarna     Realitni, as               Total Before                UE and
                                            UE         Liberec       (JTR)          ENOP      Eliminations Eliminations Subsidiaries
                                        -----------  ------------  -----------   -----------  ------------ ------------ -----------

ASSETS

PROPERTY, PLANT & EQUIPMENT              $ 254,445      $ 15,200          $ -         $  72    $ 269,717   $        -    $ 269,717
  Less:  Accumulated DD&A                   86,567         4,611            -           333       91,511            -       91,511
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
                                           167,878        10,589            -          (261)     178,206            -      178,206
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
CURRENT ASSETS:
  Cash and Temporary Cash Investments        1,888         2,305            -           233        4,426            -        4,426
  Notes Receivable - Intercompany                -             -            -             -            -            -            -
  Allowance for Uncollectible Accounts        (386)         (375)           -            (1)        (762)           -         (762)
  Accounts Receivable - Intercompany             -             -            -             -            -            -            -
  Accounts Receivable                        3,686         1,635            -           117        5,438            -        5,438
  Unbilled Utility Revenue                   3,645           195            -             -        3,840            -        3,840
  Materials and Supplies                     2,915            99            -             -        3,014            -        3,014
  Prepayments                                   16             8            -             -           24            -           24
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
                                            11,764         3,867            -           349       15,980            -       15,980
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
OTHER ASSETS:
  Investment in Associated Companies         8,429             -            -             -        8,429       (8,429)           -
  Other Assets                               9,946          (986)           -            99        9,059            -        9,059
  Notes Receivable - Intercompany                -             -            -             -            -            -            -
  Deferred Charges                               -             -            -             -            -            -            -
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
                                            18,375          (986)           -            99       17,488       (8,429)       9,059
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
TOTAL ASSETS                             $ 198,017      $ 13,470          $ -         $ 187    $ 211,674   $   (8,429)   $ 203,245
                                        ===========  ============  ===========   ===========  ===========  ===========  ===========

CAPITALIZATION & LIABILITIES

CAPITALIZATION:
  Common Stock                           $  59,770      $ 17,004          $ -         $   3     $ 76,777    $ (17,007)   $  59,770
  Paid - in - Capital                       50,804        (5,723)           -           883       45,964        4,840       50,804
  Earnings Reinvested in the Business       21,619           153            -          (527)      21,245          374       21,619
                                        -----------  ------------  ------------  -----------  -----------  -----------  -----------
  Total Common Shareholder
    Equity Before Items of Other
    Comprehensive Income                   132,193        11,434            -           359      143,986      (11,793)     132,193
  Accumulated Other Comprehensive Income   (19,374)       (3,247)           -          (117)     (22,738)       3,364      (19,374)
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
Total Comprehensive Shareholders'
  Equity                                   112,819         8,187            -           242      121,248       (8,429)     112,819
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
  Long-Term Debt, Net of Current
    Portion                                 22,475             -            -             -       22,475            -       22,475
  Notes Payable - Intercompany                   -             -            -             -            -            -            -
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

Total Capitalization                       135,294         8,187            -           242      143,723       (8,429)     135,294
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
  Minority Interest in Foreign
    Subsidiaries                            18,378         3,946            -             -       22,324            -       22,324
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

CURRENT AND ACCRUED LIABILITIES:
  Notes Payable - Intercompany                   -             -            -             -            -            -            -
  Notes Payable to Banks                    14,098             -            -             -       14,098            -       14,098
  Current Portion of Long-Term Debt          9,002             -            -             -        9,002            -        9,002
  Accounts Payable                           8,092           806            -            65        8,963           13        8,976
  Accounts Payable - Intercompany               13             -            -             -           13          (13)           -
  Other Accruals and Current
  Liabilities                                2,312           564            -            44        2,920            -        2,920
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
                                            33,517         1,370            -           109       34,996            -       34,996
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
DEFERRED CREDITS:
  Accumulated Deferred Income Taxes         10,158           (33)           -          (164)       9,961            -        9,961
  Fair Value of Deriv. Financial
    Instruments                                581             -            -             -          581            -          581
  Other Deferred Credits                        89             -            -             -           89            -           89
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
                                            10,828           (33)           -          (164)      10,631            -       10,631
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

TOTAL CAPITALIZATION & LIABILITIES       $ 198,017      $ 13,470          $ -         $ 187    $ 211,674     $ (8,429)   $ 203,245
                                        ===========  ============  ===========   ===========  ===========  ===========  ===========

See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

Note:  At the end of June 2001, UE sold its 65.78% in JTR.


                                                       UNITED ENERGY, a.s.
                                                CONSOLIDATING STATEMENT OF INCOME
                                           FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                      (THOUSANDS OF DOLLARS)


                                                                                                                         Consolidated
                                                      Teplarna                                Total Before  Eliminations    UE and
                                            UE         Liberec        JTR           ENOP      Eliminations  (Dr) Cr      Subsidiaries
                                        -----------  ------------  -----------   -----------  ------------  -----------  ------------

OPERATING REVENUE:                        $ 75,348      $ 16,784      $ 7,280        $  511     $ 99,923     $ (2,998)    $ 96,925
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

OPERATING EXPENSE:
Fuel Used in Heat and
  Electric Generation                       37,275        11,159        3,998           169       52,601            -       52,601
Operation                                   15,378         5,056          736           474       21,644       (2,998)      18,646
Maintenance                                      -             -            -             -            -            -            -
Property, Franchise & Other Taxes            1,646           288          132             4        2,070            -        2,070
Depreciation, Depletion and
  Amortization                               9,793           847          621           393       11,654            -       11,654
Income Taxes                                 3,558          (199)         380           (75)       3,664            -        3,664
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
                                            67,650        17,151        5,867           965       91,633       (2,998)      88,635
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
Operating Income (Loss)                      7,698          (367)       1,413          (454)       8,290            -        8,290
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

OTHER INCOME:
Unremitted Earnings of
  Subsidiaries                                 403             -            -             -          403         (403)           -
Other                                          914           265           27             3        1,209            -        1,209
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

                                             1,317           265           27             3        1,612         (403)       1,209
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

Income (Loss) Before
  Interest Charges and
  and Minority Interest in
  Foreign Subsidiaries                       9,015          (102)       1,440          (451)       9,902         (403)       9,499
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

INTEREST CHARGES:
Interest on Long-Term Debt                   3,489             -           65             -        3,554            -        3,554
Interest-Intercompany                            -             -            -             -            -            -            -
Other Interest                                   -             -            -             -            -            -            -
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
                                             3,489             -           65             -        3,554            -        3,554
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------
Minority Interest in
  Foreign Subsidiaries                        (923)           48         (467)            -       (1,342)           -       (1,342)
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

Net Income (Loss) Available
  for Common Stock                        $  4,603     $     (54)    $    908        $ (451)    $  5,006    $    (403)    $  4,603
                                        ===========  ============  ===========   ===========  ===========  ===========  ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

Note:  At the end of June 2001, UE sold its 65.78% in JTR.  The income statement
for JTR represents the period of October 1, 2000 through June 30, 2001.


                                                       UNITED ENERGY, a.s.
                                  CONSOLIDATING STATEMENT OF EARNINGS REINVESTED IN THE BUSINESS
                                           FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                      (THOUSANDS OF DOLLARS)


                                                                                                                          Consolidated
EARNINGS REINVESTED                                   Teplarna                                Total Before  Eliminations     UE and
IN THE BUSINESS                             UE         Liberec        JTR           ENOP      Eliminations    (Dr) Cr     Subsidiaries
                                        -----------  ------------  -----------   -----------  -----------   ------------  ------------

Balance at Beginning of Year              $ 17,017         $ 207        $ 271        $  (76)    $ 17,419       $ (402)    $ 17,017

Net Income (Loss) Available
  for Common Stock                           4,603           (54)         908          (451)       5,006         (403)       4,603

Elimination of JTR Earnings
  Reinvested in Business due
  to sale in June 2001                           -             -       (1,179)            -       (1,179)       1,179            -

Dividends on Common
  Stock                                          -             -            -             -            -            -            -
                                        -----------  ------------  -----------   -----------  -----------  -----------  -----------

Balance at End of Year                    $ 21,620         $ 153        $   -        $ (527)    $ 21,246       $  374     $ 21,620
                                        ===========  ============  ===========   ===========  ===========  ===========  ===========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.


                                             UNITED ENERGY, a.s.
                                    CONSOLIDATING STATEMENT OF CASH FLOWS
                                 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                            (THOUSANDS OF DOLLARS)


                                                                                        Total Before                Consolidated
                                                       Teplarna                         Eliminations                   UE and
                                              UE       Liberec      JTR        ENOP     & Adjustments  Eliminations  Subsidiaries
                                          ----------  ---------  ---------  ---------  -------------  ------------  ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)                          $ 4,603    $   (54)     $ 908     $ (451)      $ 5,006        $ (403)      $ 4,603
Adjustments to Reconcile Net Income
  to Net Cash Provided by Operating
  Activities:
  Unremitted Earnings of Subsidiaries         (403)         -          -          -          (403)          403             -
  Depreciation, Depletion &
    Amortization                             9,793        847        621        393        11,654             -        11,654
  Deferred Income Taxes                        862       (585)        57       (152)          182             -           182
  Minority Interest in Foreign
    Subsidiaries                               923        (48)       467          -         1,342             -         1,342
  Other                                        640        (58)       (10)         6           578             -           578

Change in:
  Accounts Receivable - Intercompany            14          -          -          -            14           (14)            -
  Receivables and Unbilled Utility
    Revenue                                   (785)       (89)        84        297          (493)            -          (493)
  Material and Supplies                        (67)       631        368          -           932             -           932
  Prepayments                                    9          -          -          -             9             -             9
  Accounts Payable                            (617)       451       (139)        81          (224)          (10)         (234)
  Accounts Payable - Intercompany              (25)         -          -          -           (25)           25             -
  Other Accruals and Current
    Liabilities                              2,825        494        308        147         3,774             -         3,774
  Other Assets                              (1,217)       (30)      (240)         -        (1,487)            -        (1,487)
  Other Liabilities                             86          -          -          -            86             -            86
                                         ----------  ---------  ---------  ---------    ----------    ----------     ---------

Net Cash Provided by (Used in)
  Operations                                16,641      1,559      2,424        321        20,945             1        20,946
                                         ----------  ---------  ---------  ---------    ----------    ----------     ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures                       (14,207)      (958)      (285)        (1)      (15,451)            -       (15,451)
Change in Notes
  Receivable - Intercompany                      -          -          -          -             -             -             -
Other                                        8,650         43        269          -         8,962        (1,579)        7,383
                                         ----------  ---------  ---------  ---------    ----------    ----------     ---------
Net Cash Provided by (Used In)
  Investing  Activities                     (5,557)      (915)       (16)        (1)       (6,489)       (1,579)       (8,068)
                                         ----------  ---------  ---------  ---------    ----------    ----------     ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
Change in Notes Payable to Banks            (3,756)         -     (1,253)         -        (5,009)            -        (5,009)
Change in Notes Payable - Intercompany           -          -       (593)         -          (593)          593             -
Net Proceeds from Issuance of
  Long-Term Debt                            12,927          -          -          -        12,927             -        12,927
Repayment of Lease to Subsidiaries               -          -          -        (95)          (95)           95             -
Reduction of Long-Term Debt                (20,562)         -       (162)         -       (20,724)            -       (20,724)
                                         ----------  ---------  ---------  ---------    ----------    ----------     ---------

Net Cash Provided by (Used in)
  Financing Activities                     (11,391)         -     (2,008)       (95)      (13,494)          688       (12,806)
                                        ----------  ---------  ---------  ---------    ----------    ----------     ---------

Effect of Exchange Rates on Cash               135         88        (13)        (9)          201             -           201
                                         ----------  ---------  ---------  ---------    ----------    ----------     ---------

Net Increase (Decrease) in Cash
  and Temporary Cash Investments              (172)       732        387        216         1,163          (890)          273

Cash and Temporary Cash Investments
  of Beginning of Period                     2,060      1,573        502         18         4,153             -         4,153
                                         ----------  ---------  ---------  ---------    ----------    ----------     ---------

Cash and Temporary Cash
  Investments at End of Year               $ 1,888    $ 2,305      $ 889     $  234       $ 5,316        $ (890)      $ 4,426
                                         ==========  =========  =========  =========    ==========    ==========     =========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

Note:  At the end of June 2001, UE sold its 65.78% in JTR.  The statement of
cash flows for JTR represents the period of October 1, 2000 through June 30, 2001.


                                                   UNITED ENERGY, a.s.
                                     CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
                                       FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2001
                                                  (THOUSANDS OF DOLLARS)

                                                                                                                    Consolidated
                                                    Teplarna                            Total Before  Eliminations     UE and
                                          UE        Liberec        JTR         ENOP     Eliminations    (Dr) Cr     Subsidiaries
                                      ----------  -----------  ----------   ----------  ------------  -----------   ------------

Net Income (Loss) Available for
  Common Stock                         $  4,603        $ (54)    $   908       $ (451)   $  5,006       $   (403)     $  4,603
                                      ----------  -----------  ----------   ----------  ----------    -----------    ----------

Other Comprehensive Income (Loss) :
  Foreign Currency Translation
    Adjustment                            7,592          675       1,036           30       9,333         (1,741)        7,592
  Unrealized Gain / (Loss) on
    Derivative Financial
    Instruments During
    the Period                             (139)           -           -            -        (139)             -          (139)
  Reclassification Adjustment
    for Realized (Gains)/Losses on
    Derivative Financial Instruments
    in Net Income                           796            -           -            -         796              -           796
                                      ----------  -----------  ----------   ----------  ----------    -----------    ----------
Other Comprehensive Income (Loss),
  Before Tax                              8,249          675       1,036           30       9,990         (1,741)        8,249

  Income Tax Expense/(Benefit)
    Related to Unrealized Gain/(Loss)
    on Derivative Financial
    Instruments During
    the Period                              (43)           -           -            -         (43)             -           (43)
  Reclassification Adjustment for
    Income Tax Benefit/(Expense) on
    Derivative Financial
    Instruments in Net Income               247            -           -            -         247              -           247
                                      ----------  -----------  ----------   ----------  ----------    -----------    ----------
Income Taxes - Net                          204            -           -            -         204              -           204
                                      ----------  -----------  ----------   ----------  ----------    -----------    ----------
Other Comprehensive Income (Loss),
  Before Cumulative Effect,
  Net of Tax                              8,045          675       1,036           30       9,786         (1,741)        8,045
                                      ----------  -----------  ----------   ----------  ----------    -----------    ----------

Cumulative Effect of
  Change in Accounting                     (793)           -           -            -        (793)             -          (793)
                                      ----------  -----------  ----------   ----------  ----------    -----------    ----------

Other Comprehensive Income (Loss),
  After Cumulative Effect
  Net of Tax                              7,252          675       1,036           30       8,993         (1,741)        7,252
                                      ----------  -----------  ----------   ----------  ----------    -----------    ----------

Comprehensive Income (Loss)            $ 11,855        $ 621     $ 1,944       $ (421)   $ 13,999       $ (2,144)     $ 11,855
                                      ==========  ===========  ==========   ==========  ==========    ===========    ==========


See Notes to Consolidated  Financial  Statements  included in Item 8 of National
Fuel Gas  Company's  Form 10-K for the fiscal  year ended  September  30,  2001,
incorporated herein by reference.

Note:  At the end of June 2001, UE sold its 65.78% in JTR.  The statement of
comprehensive income for JTR represents the period of October 1, 2000 through
June 30, 2001.

EXHIBITS

   A.    *(1)  Annual Report on Form 10-K for fiscal year ended September 30,
               2001 filed December 17, 2001 (File No. 1-3880).

          (2)  National Fuel Gas Company 2001 Annual Report to Shareholders
               (paper copy submitted under cover of Form SE).

         *(3)  National Fuel Gas Company Proxy Statement, dated and filed
               January 10, 2002 (File No. 1-03880).

   B.      Articles of Incorporation, By-Laws and Partnership Agreements.

          (1)  National Fuel Gas Company

                    *i    Restated Certificate of Incorporation of National Fuel
                          Gas Company, dated September 21, 1998 (Exhibit 3.1,
                          Form 10-K for fiscal year ended September 30, 1998 in
                          File No. 1-3880).

                   *ii    National Fuel Gas Company By-Laws as amended on
                          December 13, 2001 (Exhibit 3.1, Form 10-K/A for fiscal
                          year ended September 30, 2001 in File No. 1-3880)

          (2)  National Fuel Gas Distribution Corporation

                    *i    By-Laws, as amended March 11, 1998.  (Exhibit (2)i,
                          designated as Exhibit EX-99-1 for EDGAR purposes, Form
                          U5S for fiscal year ended September 30, 1999.)

                   *ii    Restated Certificate of Incorporation of National Fuel
                          Gas Distribution Corporation, dated May 9, 1988
                          (Exhibit B-1 in File No. 70-7478).

          (3)  National Fuel Gas Supply Corporation

                    *i    By-Laws, as amended (Exhibit (3)i, Form U5S for fiscal
                          year ended September 30, 1989).

                   *ii    Articles of Incorporation of United Natural Gas Company,
                          dated February 1, 1886 (Exhibit (3)ii, Form U5S for
                          fiscal year ended September 30, 1984).

                  *iii    Certificate of Merger and Consolidation dated January 2,
                          1951 (Exhibit (3)iii, Form U5S for fiscal year
                          ended September 30, 1984).

                   *iv    Joint Agreement and Plan of Merger, dated June 18, 1974
                          (Exhibit (3)iv, Form U5S for fiscal year ended
                          September 30, 1987).

                    *v    Certificate of Merger and Plan of Merger of Penn-York
                          Energy Corporation and National Fuel Gas Supply
                          Corporation dated April 1, 1994 (Exhibit (3)v, designated
                          as Exhibit EX-99-3 for EDGAR purposes, Form U5S
                          for fiscal year ended September 30, 1994).



*  Incorporated herein by reference as indicated.

EXHIBITS (Continued)

          (4)  Leidy Hub, Inc. (formerly Enerop Corporation)

                    *i    By-Laws (Exhibit A-15, File No. 70-7478).

                   *ii    Restated Certificate of Incorporation of Enerop Corporation
                          dated October 15, 1993.  (Exhibit (4)ii,
                          designated as Exhibit Ex-99-2 for EDGAR purposes, Form
                          U5S for fiscal year ended September 30, 1999).

                  *iii    Action by Board of Directors to amend the By-Laws dated
                          October 10, 1993 (Exhibit (4)iii, designated as
                          Exhibit EX-3 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 1993).

          (5)  Seneca Resources Corporation

                    *i    By-Laws, as amended (Exhibit (5)i, Form U5S for fiscal
                          year ended September 30, 1989).

                   *ii    Articles of Incorporation of Mars Natural Gas Company
                          dated March 29, 1913 (Exhibit (5)ii, Form U5S for
                          fiscal year ended September 30, 1984).

                  *iii    Secretary's Certificate dated January 4, 1918 (Exhibit
                          (5)iii, Form U5S for fiscal year ended September 30,
                          1984).

                   *iv    Articles of Amendment, dated March 30, 1955 (Exhibit
                          (5)iv, Form U5S for fiscal year ended September 30,
                          1984).

                    *v    Certificate of Amendment changing name of the Mars Company
                          to Seneca Resources Corporation, January 29, 1976
                          (Exhibit (5)v, Form U5S for fiscal year ended
                          September 30, 1984).

                   *vi    Certificate of Merger and Plan of Merger of Seneca
                          Resources Corporation and Empire Exploration, Inc. dated
                          April 29, 1994 (Exhibit (5)vi, designated as Exhibit
                          EX-99-2 for EDGAR purposes, Form U5S for fiscal year
                          ended September 30, 1994).

                  *vii    Articles of Merger and Plan of Merger of HarCor Energy,
                          Inc. with and into Seneca Resources Corporation, filed
                          August 31, 1999.  (Exhibit (5)vii, designated as Exhibit
                          EX-99-3 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 1999.)

                 *viii    Certificate of Ownership and Merger merging HarCor
                          Energy, Inc. into Seneca Resources Corporation filed
                          August 31, 1999.  (Exhibit (5)viii, designated as
                          Exhibit EX-99-4 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 1999.)



*  Incorporated herein by reference as indicated.





EXHIBITS (Continued)


          (6)  Empire Exploration Company

                     i    Certificate of Limited Partnership, dated November 28,
                          1983.  Designated as Exhibit ex99-1 for EDGAR
                          purposes.

                   *ii    Limited Partnership Agreement, dated November 28, 1983,
                          between Empire  Exploration, Inc. (now Seneca
                          Resources Corporation) as general partner and Herman
                          P. Loonsk as limited partner (Exhibit (8), Form U5S for
                          fiscal year ended September 30, 1984).

          (7)  Empire 1983 Drilling Program

                     i    Certificate of Limited Partnership, dated November 28,
                          1983.  Designated as Exhibit ex99-2 for EDGAR
                          purposes.

                    ii    Amendment of Certificate of Limited Partnership, dated
                          December 21, 1983.  Designated as Exhibit ex99-3 for
                          EDGAR purposes.

                  *iii    Limited Partnership Agreement, dated November 28, 1983,
                          among Empire Exploration, Inc. (now Seneca Resources
                          Corporation) as general partner and those parties
                          collectively called limited partners (Exhibit (9),
                          Form U5S for fiscal year ended September 30, 1984).

          (8)  Empire 1983 Joint Venture

                     i    Business Certificate for Partners, dated December 6,
                          1983.  Designated as Exhibit ex99-4 for EDGAR purposes.

                   *ii    Joint Venture Agreement, dated December 6, 1983,
                          between Empire Exploration, Inc. (now Seneca
                          Resources Corporation) and Empire 1983 Drilling Program
                          (Exhibit (10), Form U5S for fiscal year ended
                          September 30, 1984).

          (9)  Highland Forest Resources, Inc. (formerly Highland Land &
               Minerals, Inc.)

                    *i    Certificate of Incorporation, dated August 19, 1982
                          (Exhibit (11)i, Form U5S for fiscal year ended September
                          30, 1985).

                   *ii    By-Laws (Exhibit (11) ii, Form U5S for fiscal year
                          ended September 30, 1987).

                  *iii    Articles of Merger and Plan of Merger of Utility Constructors,
                          Inc. into Highland Land & Minerals, Inc. filed
                          October 1, 1999.  (Exhibit (9)iii, designated as Exhibit
                          EX-99-5 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 1999.)

*  Incorporated herein by reference as indicated.





EXHIBITS (Continued)


                   *iv    Articles of Amendment of the Articles of the Corporation,
                          dated June 8, 2000.  (Exhibit (9)iv, designated as Exhibit
                          EX-99-2 for EDGAR purposes, Form U5S for fiscal year
                          ended September 30, 2000.)

         (10)  Data-Track Account Services, Inc.

                    *i    Restated Articles of Incorporation, dated March 2, 1984
                          (Exhibit A-1, File No. 70-7512).

                   *ii    By-Laws (Exhibit A-2, File No. 70-7512).

         (11)  National Fuel Resources, Inc.

                    *i    Articles of Incorporation, dated January 9, 1991
                          (Exhibit (14)i, designated as Exhibit EX-3(a) for EDGAR
                          purposes, Form U5S for fiscal year ended September 30, 1992).

                   *ii    By-Laws (Exhibit (14)ii, designated as Exhibit EX-3(b)
                          for EDGAR purposes, Form U5S for fiscal year ended
                          September 30, 1992).

         (12)  Horizon Power, Inc. (formerly NFR Power, Inc.)

                    *i    Certificate of Incorporation, dated December 13, 1995.
                          (Exhibit (13)i, designated as Exhibit EX-3-1 for EDGAR
                          purposes, Form U5S for fiscal year ended September 30, 1999.)

                   *ii    By-Laws.  (Exhibit (13)ii, designated as Exhibit EX-3-2
                          for EDGAR purposes, Form U5S for fiscal year ended September
                          30, 1999.)

                   iii    Certificate of Amendment of the Certificate of Incorporation
                          of NFR Power, Inc., dated June 20, 2001.  Designated as
                          Exhibit ex99-5 for EDGAR purposes.

         (13)  Seneca Energy II, LLC

                     i    Articles of Organization, dated February 23, 2000.
                          Designated as Exhibit ex99-6 for EDGAR purposes.

                    ii    Amended and Restated Operating Agreement, dated March 1,
                          2000 (Confidential Treatment Requested)

         (14)  Model City Energy, LLC

                     i    Articles of Organization, dated February 11, 2000.
                          Designated as Exhibit ex99-7 for EDGAR purposes.

                    ii    Operating Agreement, dated March 1, 2000
                          (Confidential Treatment Requested)

*  Incorporated herein by reference as indicated.






EXHIBITS (Continued)


         (15)  Energy Systems North East, LLC

                     i    Certificate of Formation, dated September 26, 2000.
                          Designated as Exhibit ex99-8 for EDGAR purposes.

                    ii    Limited Liability Company Agreement, dated September 26,
                          2000 (Confidential Treatment Requested).

         (16)  Horizon Energy Development, Inc.

                    *i    Certificate of Incorporation (Exhibit (13)i, designated
                          as Exhibit EX-3(a) for EDGAR purposes, Form U5S for
                          fiscal year ended September 30, 1995).

                   *ii    By-Laws (Exhibit (13)ii, designated as Exhibit EX-3(b)
                          for EDGAR purposes, Form U5S for fiscal year ended
                          September 30, 1995).

         (17)  Horizon Energy Holdings, Inc.

                    *i    Certificate of Incorporation, dated April 1, 1998.
                          (Exhibit (14)i designated as Exhibit EX99-1 for EDGAR
                          purposes, Form U5S for fiscal year ended September 30, 1998).

                   *ii    By-Laws.  (Exhibit (14)ii, designated as Exhibit EX99-2
                          for EDGAR purposes, Form U5S for fiscal year ended
                          September 30, 1998).

         (18)  Horizon Energy Development B.V. (formerly Beheeren-Beleggingmaatschappij
               Bruwabel B.V.)

                    *i    Articles of Incorporation (Exhibit (14), designated as
                          Exhibit EX-99-2 for EDGAR purposes, Form U5S for
                          fiscal year ended September 30, 1996).

                    ii    Notarial Record, dated December 4, 2001.  Designated as
                          Exhibit ex99-9 for EDGAR purposes.

         (19)  Horizon Energy Development, s.r.o. (formerly Power International, s.r.o.)

                    *i    Founding Notarial Deed, dated May 8, 1991 (Exhibit (15)i,
                          designated as Exhibit EX-99-9 for EDGAR purposes,
                          Form U5S/A for fiscal year ended September 30, 1996).

                   *ii    Notarial Deed, dated December 2, 1993 (Exhibit (15)ii,
                          designated as Exhibit EX-99-10 for EDGAR purposes,
                          Form U5S/A for fiscal year ended September 30, 1996).

                  *iii    Notarial Deed, dated June 28, 1996 (Exhibit (15)iii,
                          designated as Exhibit EX-99-11 for EDGAR purposes, Form
                          U5S/A for fiscal year ended September 30, 1996).

                   *iv    Notarial Deed, dated November 27, 1996 (Exhibit (15)iv,
                          designated as Exhibit EX-99-12 for EDGAR purposes, Form
                          U5S/A for fiscal year ended September 30, 1996).

   *  Incorporated herein by reference as indicated





EXHIBITS (Continued)


         (20)  Power Development, s.r.o.

                    *i    Founding Notarial Deed, dated May 4, 1994 (Exhibit (16)i,
                          designated as Exhibit EX-99-13 for EDGAR purposes,
                          Form U5S/A for fiscal year ended September 30, 1996).

                   *ii    Notarial Deed, dated June 28, 1996 (Exhibit (16)ii,
                          designated as Exhibit EX-99-14 for EDGAR purposes, Form
                          U5S/A for fiscal year ended September 30, 1996).

                  *iii    Notarial Deed, dated November 27, 1996 (Exhibit (16)iii,
                          designated as Exhibit EX-99-15 for EDGAR purposes,
                          Form U5S/A for fiscal year ended September 30, 1996).

         (21)  Teplarna Kromeriz, a.s.

                    *i    Statutes, dated June 1996 (Exhibit (17), designated as
                          Exhibit EX-99-16 for EDGAR purposes, Form U5S/A for
                          fiscal year ended September 30, 1996).

                    ii    Articles of Association, dated June 27, 2001.
                          Designated as Exhibit ex99-10 for EDGAR purposes.

         (22)  Teplarna Liberec, a.s.

                    *i    Founding Contract, dated November 11, 1994 (Exhibit (21)i,
                          designated as Exhibit EX99-12 for EDGAR purposes,
                          Form U5S/A for fiscal year ended September 30, 1997).

                   *ii    Notarial Record, dated November 11, 1994 (Exhibit (21)ii,
                          designated as Exhibit EX99-13 for EDGAR purposes,
                          Form U5S/A for fiscal year ended September 30, 1997).

                   iii    Articles of Association, dated June 21, 2001.
                          Designated as Exhibit ex99-11 for EDGAR purposes.

         (23)  Teplo Branany, s.r.o.

                    *i    Partnership Agreement, dated November 18, 1997.
                          (Exhibit (28)i, designated as Exhibit 99-4 for EDGAR
                          purposes, Form U5S for fiscal year ended September 30, 1998).

         (24)  Jablonecka teplarenska a realitni, a.s.

                    *i    Articles of Association.  (Exhibit (29)i, designated as
                          Exhibit EX99-5 for EDGAR purposes, Form U5S for
                          fiscal year ended September 30, 1998).

                          Note:  Jablonecka teplarenska a realitni, a.s. was sold
                          by United Energy, a.s. during the fiscal year ended
                          September 30, 2001.

*  Incorporated herein by reference as indicated.





EXHIBITS (Continued)


         (25)  Lounske tepelne hospodarstvi, s.r.o.

                    *i    Notarial Records, dated November 12, 1998, January 6,
                          1999 and December 2, 1999.  Designated as Exhibit
                          EX-99-6 for EDGAR purposes, Form U5S for fiscal year
                          ended September 30, 1999.

         (26)  ENOP, s.r.o.

                    *i    Founders Deed, dated December 19, 1995.  (Exhibit (31)i,
                          designated as Exhibit EX99-8 for EDGAR purposes,
                          Form U5S for fiscal year ended September 30, 1998).

         (27)  United Energy, a.s.

                    *i    Notarial Record from Prvni severozapadni teplarenska, a.s.,
                          dated September 28, 1998.  (Exhibit (28) i,
                          designated as Exhibit EX-99-3 for EDGAR purposes,
                          Form U5S for fiscal year ended September 30, 2000.)

                   *ii    Notarial Record from Severoceske Teplarny, a.s. dated
                          September 28, 1998.  (Exhibit (28) ii, designated as
                          Exhibit EX-99-4 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 2000.)

                  *iii    Court Resolution, dated December 9, 1999.  (Exhibit (28) iii,
                          designated as Exhibit EX-99-5 for EDGAR
                          purposes, Form U5S for fiscal year ended September 30, 2000.)

                   *iv    Court Resolution, dated July 17, 2000.  (Exhibit (28) iv,
                          designated as Exhibit EX-99-6 for EDGAR purposes,
                          Form U5S for fiscal year ended September 30, 2000.)

                     v    Articles of Association, dated April 28, 1992, as amended
                          on June 28, 2001.  Designated as Exhibit ex99-12
                          for EDGAR purposes.

         (28)  Upstate Energy Inc. (formerly Niagara Energy Trading Inc.)

                    *i    Restated Certificate of Incorporation of Niagara Energy
                          Trading Inc., dated May 19, 1998.  (Exhibit (32)i,
                          designated as Exhibit EX99-9 for EDGAR purposes, Form
                          U5S for fiscal year ended September 30, 1998).

                   *ii    By-Laws as amended August 24, 1999.  (Exhibit (32)ii,
                          designated as Exhibit EX-99-7 for EDGAR purposes, Form
                          U5S for fiscal year ended September 30, 1999.)

*  Incorporated herein by reference as indicated.





EXHIBITS (Continued)


         (29)  Roystone Gas Processing Plant Partnership

                    *i    Facility Construction, Ownership and Operating Agreement,
                          dated November 1, 1994.  (Exhibit (33)i, designated as
                          Exhibit EX-99-8 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 1999.)

                   *ii    Ratification and Joinder of Roystone Gas Processing Plant
                          Facility Construction, Ownership and Operating
                          Agreement and Related Agreements, dated September 30, 1999.
                          (Exhibit (33)ii, designated as Exhibit EX-99-9
                          for EDGAR purposes, Form U5S for fiscal year ended
                          September 30, 1999.)

         (30)  Niagara Independence Marketing Company

                    *i    Certificate of Incorporation, dated September 17, 1997
                          (Exhibit (27)i, designated as Exhibit EX99-3 for EDGAR
                          purposes, Form U5S for fiscal year ended September 30, 1997).

                   *ii    By-Laws amended March 11, 1998.  (Exhibit (33)ii,
                          designated at Exhibit EX99-11 for EDGAR purposes, Form
                          U5S for fiscal year ended September 30, 1998).

                  *iii    Marketing Partnership Agreement among Coastal Gas Marketing
                          DirectLink Corp., MGS Marketing Corp., Niagara
                          Independence Marketing Company and Williams Independence
                          Marketing Company  (Exhibit (27)iii, designated as
                          Exhibit EX-99-5 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 1997).

         (31)  Seneca Independence Pipeline Company

                    *i    Certificate of Incorporation of Empire Oklahoma, Inc.,
                          dated April 16, 1996  (Exhibit (28)i, designated as
                          Exhibit EX-99-6 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 1997).

                   *ii    Certificate of Amendment of Certificate of Incorporation
                          of Empire Oklahoma, Inc., dated July 24, 1997
                          (Exhibit (28)ii, designated as Exhibit EX-99-7 for EDGAR
                          purposes, Form U5S for fiscal year ended September
                          30, 1997).

                  *iii    By-Laws amended September 20, 1999.  (Exhibit (35)iii,
                          designated as Exhibit EX-99-10 for EDGAR purposes,
                          Form U5S for fiscal year ended September 30, 1999.)

         (32)  National Fuel Exploration Corp.

                    *i    Certificate of Amalgamation and Articles of Amalgamation,
                          dated June 16, 2000.  (Exhibit (33)i, designated
                          as Exhibit EX-99-7 for EDGAR purposes, Form U5S for fiscal
                          year ended September 30, 2000.)

                   *ii    By-Laws No. 1, dated April 28, 2000.  (Exhibit (33)ii,
                          designated as Exhibit EX-99-8 for EDGAR purposes,
                          Form U5S for fiscal year ended September 30, 2000.)

*  Incorporated herein by reference as indicated.




EXHIBITS (Continued)


         (33)  Player Resources Ltd.

                     i    Certificate of Amalgamation and Articles of Amalgamation,
                          dated September 28, 2001.  Designated as Exhibit
                          ex99-13 for EDGAR purposes.

                    ii    By-laws No. 1, dated January 28, 1998.  Designated as
                          Exhibit ex99-14 for EDGAR purposes.

   C.    Indentures

         *   Indenture dated as of October 15, 1974, between the Company and The
             Bank of New York (formerly Irving Trust Company)
             (Exhibit 2(b) in File No. 2-51796).

         *   Third Supplemental Indenture dated as of December 1, 1982, to Indenture
             dated as of October 15, 1974, between the Company
             and The Bank of New York (formerly Irving Trust Company) (Exhibit
             4(a)(4) in File No. 33-49401).

         *   Tenth Supplemental Indenture dated as of February 1, 1992, to Indenture
             dated as of October 15, 1974, between the Company and The Bank of
             New York (formerly Irving Trust Company) (Exhibit 4(a), Form 8-K dated
             February 14, 1992 in File No. 1-3880).

         *   Eleventh Supplemental Indenture dated as of May 1, 1992, to Indenture
             dated as of October 15, 1974, between the Company and The Bank of
             New York (formerly Irving Trust Company) (Exhibit 4(b), Form 8-K dated
             February 14, 1992 in File No. 1-3880).

         *   Twelfth Supplemental Indenture dated as of June 1, 1992, to Indenture
             dated as of October 15, 1974, between the Company and The Bank of
             New York (formerly Irving Trust Company) (Exhibit 4(c), Form 8-K dated
             June 18, 1992 in File No. 1-3880).

         *   Thirteenth Supplemental Indenture dated as of March 1, 1993, to Indenture
             dated as of October 15, 1974, between the Company and The Bank of
             New York (formerly Irving Trust Company) (Exhibit 4(a)(14) in File
             No. 33-49401).

         *   Fourteenth Supplemental Indenture dated as of July 1, 1993, to Indenture
             dated as of October 15, 1974, between the Company and The Bank of
             New York (formerly Irving Trust Company) (Exhibit 4.1, Form 10-K for
             fiscal year ended September 30, 1993 in File No. 1-3880).

         *   Fifteenth Supplemental Indenture dated as of September 1, 1996 to Indenture
             dated as of October 15, 1974, between the Company and The Bank of
             New York (formerly Irving Trust Company) (Exhibit 4.1, Form 10-K for
             fiscal year ended September 30, 1996 in File No. 1-3880).

         *   Indenture dated as of October 1, 1999 between the Company and the
             Bank of New York (Exhibit 4.1, Form 10-K for the fiscal
             year ended September 30, 1999 in File No. 1-3880).


*  Incorporated herein by reference as indicated.





EXHIBITS (Continued)


         *   Officers Certificate Establishing Medium-Term Notes dated October 14,
             1999 (Exhibit 4.2, Form 10-K for the fiscal year ended September 30,
             1999 in File No. 1-3880).

         *   Amended and Restated Rights Agreement dated as of April 30, 1999
             between National Fuel Gas Company and HSBC Bank USA (Exhibit 10.2,
             Form 10-Q for the quarterly period ended March 31, 1999 in File No. 1-3880).

   D.        Tax Allocation Agreement pursuant to Rule 45(c).  Designated as
             Exhibit ex99-15 for EDGAR purposes.

   E.     *(1) Employee Relocation Manual filed pursuant to Rule 48(b) (Exhibit E(1),
               designated as Exhibit EX-99-9 for EDGAR purposes, Form U5S for fiscal
               year ended September 30, 1997).

          *(2) National Fuel Employee Computer Purchase Program filed pursuant to
               Rule 48(b).  (Exhibit E(2), designated as Exhibit EX99-15 for EDGAR
               purposes, Form U5S for fiscal year ended  September 30, 1998).

           (3) Independence Pipeline Company Unaudited Financial Statements for the
               quarter and year-to-date period ended December 31, 2000 and the
               quarter and year-to-date period ended September 30, 2001 filed pursuant
               toRule 16.  These documents are subject to a request for
               confidential treatment under Rule 104(b).

   F.        Schedules supporting items of this Report - None.

   G.      (1)  Organization chart showing relationship to Teplarna Kromeriz, a.s.,
                a foreign utility company.  Designated as Exhibit ex99-16 for
                EDGAR purposes.

           (2)  Organization chart showing relationship to United Energy, a.s.,
                a foreign utility company, and Teplarna Liberec, a.s., a foreign
                utility company.  Designated as Exhibit ex99-17 for EDGAR purposes.

           (3)  Organization chart showing relationship to Horizon Power, Inc.,
                an exempt wholesale generator, and Energy Systems North East, LLC,
                an exempt wholesale generator.  Designated as Exhibit ex99-18 for
                EDGAR purposes.

   H.      (1)  United Energy, a.s. Audited Financial Statements for the Calendar
                Year Ended December 31, 2000.  Designated as Exhibit ex99-19 for
                EDGAR purposes.

           (2)  Teplarna Liberec, a.s. Audited Financial Statements for the Calendar
                Year Ended December 31, 2000. Designated as Exhibit ex99-20 for EDGAR
                purposes.

           (3)  Teplarna Kromeriz, a.s. Audited Financial Statements for the Calendar
                Year Ended December 31, 2000.  Designated as Exhibit ex99-21 for
                EDGAR purposes.


*  Incorporated herein by reference as indicated.





   EXHIBITS (Concluded)


           (4)  Horizon Power, Inc. Audited Financial Statements for the Fiscal
                Year Ended September 30, 2001.  These financial
                statements will be filed by amendment when available.

           (5)  Energy Systems North East, LLC Unaudited Financial Statements
                for the Fiscal Year Ended September 30, 2001.  These
                financial statements will be filed by amendment when available.

* Incorporated herein by reference as indicated.

S I G N A T U R E

     The undersigned System company has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized pursuant to the requirements of the Public Utility Holding Company Act of 1935.

 

NATIONAL FUEL GAS COMPANY




By: /s/Joseph P. Pawlowski
Joseph P. Pawlowski, Treasurer
and Principal Accounting Officer

Date: January 28, 2002

EXHIBIT INDEX

ex99-1          Certificate of Limited Partnership, dated November 28, 1983, of
                Empire Exploration Company

ex99-2          Certificate of Limited Partnership, dated November 28, 1983, of
                Empire 1983 Drilling Program

ex99-3          Amendment of Certificate of Limited Partnership, dated December
                21, 1983, of Empire 1983 Drilling Program

ex99-4          Business Certificate for Partners, dated December 6, 1983, of
                Empire 1983 Joint Venture

ex99-5          Certificate of Amendment of the Certificate of Incorporation,
                dated June 20, 2001, of Horizon Power, Inc.

ex99-6          Articles of Organization, dated February 23, 2000, of Seneca
                Energy II, LLC

ex99-7          Articles of Organization, dated February 11, 2000, of Model City
                Energy, LLC

ex99-8          Certificate of Formation, dated September 26, 2000, of Energy
                Systems North East, LLC

ex99-9          Notarial Record, dated December 4, 2001, of Horizon Energy Development B.V.

ex99-10         Articles of Association, dated June 27, 2001, of Teplarna Kromeriz, a.s.

ex99-11         Articles of Association, dated June 21, 2001, of Teplarna Liberec, a.s.

ex99-12         Articles of Association, dated April 28, 1992, of United Energy, a.s.

ex99-13         Certificate of Amalgamation and Articles of Amalgamation,dated
                September 28, 2001, of Player Resources Ltd.

ex99-14         By-Laws No. 1, dated January 28, 1998, of Player Resources Ltd.

ex99-15         Tax Allocation Agreement pursuant to Rule 45(c)

ex99-16         Organization Chart Showing Relationship to Teplarna Kromeriz, a.s.

ex99-17         Organization Chart Showing Relationship to United Energy, a.s.

ex99-18         Organization Chart Showing Relationship to Horizon Power, Inc.

ex99-19         United Energy, a.s. Audited Financial Statements for the Calendar
                Year Ended December 31, 2000

ex99-20         Teplarna Llberec, a.s. Audited Financial Statements for the Calendar
                Year Ended December 31, 2000

ex99-21         Teplarna Kromeriz, a.s. Audited Financial Statements for the Calendar
                Year Ended December 31, 2000