Subject: "Weather Meeting".

Body: Lucy: We thought that it would be a good idea to meet with the "weather" group to introduce ourselves and alos to go over some of the basics, such as procedures for getting confidentiality agreements processed etc. Could you send me a list of who you think we should include in this meeting and Sara and I will do the rest? Will a lunch work? Carol

Subject: "Basis trading".

Body: Frank, The new procedures for trading basis are working well. We still need to get the desk comfortable with submitting orders to you guys, but overall I am pleased with the new procedure. I need to work on staying out of the basis market entirely going forward. Can you also try to work all basis at Socal through Keith. Let Keith and Mo see all of your Socal/Malin spreads in the future. I think I gave you an order to work Apr-Oct 02 socal/malin at the same time Keith was trying to sell a-o 02 socal basis. I will let him know in the future so that we do not cross him in the market. Thanks,

Subject: "eSource Presents Free SDC Platinum Training".

Body: eSource presents SDC Platinum training SDC Platinum offers detailed transactional information on New Issues, Mergers & Acquisitions, Syndicated Loans, Private Equity, Strategic Alliances, Project Finance and others. The product is designed to allow users to compare transactions, evaluate advisors, and analyze market and industry trends. Training Agenda Includes: ? General Introduction. ? Basic query techniques for new issues and M&A databases. ? Basic query techniques for trend analysis. Attend our SDC Platinum Clinic: May 30 9:00 -11:30 AM EB552

Subject: "Peoples".

Body:
Here is what I'm looking at for July 1. Paul Leanza (Clinton) has a customer that can take around 1,000 day. I don't know if that's dt or mcf. I will use mcf for this email until someone corrects me. This customer has a special deal where the pool operator gets a fuel credit on every mcf the customer pulls. For July, assuming the gathering fuel is 5%, and this customer pulls 95 mcf from your production pool, you will get a 5 mcf credited back to your imbalance account the following month. I don't know how this works with trading imbalances. But, at a NYMX of $3.95 that works out to $.21 - sounds good to me. Paul said this customer is looking for a CNG Index Flat price or and equivalent basis number. Marde will not sell at that price but I will. Marde said she would charge ENA a $.03 fee for all the volumes flowing. Actually, I would prefer to move all the pool and production gas to EES, settle up financially with EES and be done with it. What we could do to test Paul's statement, is have the customer pull 300 mcf/day out of CES's pool for July. It would be easy to see since that is the only deal. AND, have EES take over the pool deal with Power Gas Marketing. Comments / Questions? Questions John 1. Heidi (EES) said you already have some Phillips production in EES's pool. Does CES still have metered production from Phillips in CES's pool? If yes, how many meters? 2. Please give me the following info for the activity behind Peoples Phillips Power Gas Marketing Term Price Volume Heidi (EES) If we find out from John that there is still metered production in CES's pool, please call Peoples and see if we can move the metered production to EES's pool for July. Heidi Boyd with CES said you could tell them that CES is going out of business and they may make exceptions for that. Marde I would prefer to move both supply customers over to EES, where EES makes the payments and bills either Clinton or Clinton's customer. At what price will you take these deals? I assume we need to get this info from John before you can anwser this.