IN: Mr. Davis: Susan Flynn passed on to me your comments to the ISDA draft. Please call me when you are ready to discuss. With respect to the Guaranty amendment that we had requested, it is just meant to clarify in the termination section that if the Guaranty is terminated then the Guarantor is still responsible for all of the Counterparty's obligations with respect to any transactions that were entered into prior to the termination date, even if such obligations are incurred after the termination date. I do not feel that the termination language, as currently written in both the WPS and Enron Guarantys clearly reflects this concept as the language as currently written states that the Guaranty "is revocable only with respect to liabilities occurring on or after the termination date." I look forward to hearing from you.

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OUT: ISDA Comments
IN: This is an email
John and Michael, Attached, for your information, is a copy of a general presentation that I prepared to illustrate and describe EGM's businesses. This is a presentation that will become a "living" document to communicate our businesses and growth. I will be making numerous changes as we move closer to the analyst meeting in January but I wanted to give everyone a copy of this version. Please don't hesitate to call me if you have any questions or comments. Mike

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OUT: EGM business presentation
QUESTION: The following summarizes the results of our meeting......If you want to discuss further, please call me. Break Field Area in 3 Regions / Allocate by point The decision was made to sub-divide the Field Area storage group into two regions; South of Plainview and North of Plainview, rather than 3 regions or allocating by point. If it is determined that additional divisions are necessary in the future, such changes can be made at that time. Changes to CAS are required. I have discussed the changes with Bob Johnson and Doug Aschwege and have learned that the changes are not difficult to make and could be made in a couple days. Gary Spraggins and I will determine which deferred delivery points are in these new field regions and then provide the information to Bob and Doug. Question: Should this change be implemented immediately or should it wait until the beginning of the withdrawal season? Change from 'net zero' approach / Provide minimum level of activity The decision was made to table this concern for now. The scheduled activity that drives the allocation process does not guarantee physical pipeline operations. In most cases, the flexibility provided by the Cunningham Field allows Gas Control to adjust operations to maintain the required minimum level of injections/withdrawals into Redfield and Lyons. Further analysis is required. Steve Thomas, Larry Swett and I will continue to monitor the system conditions/operations that effect physical storage to determine if and what additional changes maybe warranted. Send "Notice" when final scheduled number exceeds operational capacity The IT group will modify the scheduling cycle to add a procedure where the final net scheduled storage quantity is compared to the operational capacity set for storage. If the final scheduled quantity exceeds operational capacity, I will receive a notification via e-mail. The purpose here is to monitor occurrences to determine the magnitude of the problem. I will get with Gerry Medeles to finalize the matter.
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ANS: Results of Meeting on Storage Allocation Changes
Gerald, were you able to get the contracts w/ changes out to Aspect, et al yesterday? I am out this week, but am checking email. If you need to talk, call me on my cell phone 713-628-0543. Thanks.
Q: What is a potential subject line for this email?
answer: Revised contracts to Aspect et al
Tetco is going to start scheduling Lambertville. Lambertvile is in Tetco M3 (in New Jersey). This means that anyone flowing gas through Lambertville on a secondary basis will probably strart getting curtailed. Lambertville on Tetco will be just like Linden on Transco Z6. The following LDC's/points are downstream of Lambertivlle. E Town N Jersey PSE&G Con Ed Lilco Bug Belle Mead (interconnect with Transco) Hanover (interconnect with Algonquin) Leidy is considered upstream of Lambertville. Also, deliveries to Algonquin at Lambertiville is considered upstream of the constraint. Tetco will not give me any indication as to how much gas may be cut or how much secondary will be allowed to flow through Lambertville. Meredith, when you get a chance, please confirm which points are downstream of Lambertiville.
Answer: Tetco M3 at Lambertville
Q: ENA purchased 11.000 dth from New Power at IF flat (deal 509454). I created a sale deal 522203 (sale to New Power at IF + .0125). Please Bookout these deals.
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A:
New Power Bookout