Nielson-True Partnership, True Oil Company, Tax Matters Partner - Page 13

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             incentives administered by FERC under NGPA section 107(c)(5), 92                                     
             Stat. 3366, 15 U.S.C. sec. 3317 (1988), a well owner would be                                        
             required to obtain a determination, under the NGPA section 503                                       
             procedures with respect to each individual well, that it produced                                    
             "tight formation gas".  The question is whether that same                                            
             requirement ensues for the tax credit from the section 29                                            
             reference to a determination under NGPA section 503.                                                 
                    Petitioner argues that the statutory ambiguity permits its                                    
             use of the legislative history and other pertinent material to                                       
             interpret the intent of the statute.  Although we agree that in                                      
             this instance we must look beyond the statutory language, it is                                      
             difficult to reach the conclusion proposed by petitioner,                                            
             considering the statutory language and case precedent concerning                                     
             NGPA section 503.  For example, could Congress, by incorporating                                     
             the reference to NGPA section 503 in section 29, have intended                                       
             that one procedural standard would be applied to determine                                           
             whether a well is a tight formation well for price incentives and                                    
             that a different approach and procedural standard would apply for                                    
             income tax credits where both programs are to be governed                                            
             procedurally pursuant to NGPA section 503?  This must be the case                                    
             for petitioner to prevail.                                                                           
                    A statutory term should be given its common and ordinary                                      
             meaning, unless persuasive evidence or context indicates                                             
             otherwise.  Commissioner v. Soliman, 506 U.S. at 174;                                                
             Commissioner v. Brown, 380 U.S. 563, 570-571 (1965).  The word                                       

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