IN: Hi. FYI. Yesterday a deal was submitted to the California Commission (without just about everyone in the industry signing) to restructure Socalgas. More details to come, but wanted to give a flavor, knowing that you're actively engaged in negotiations. Assuming a 10.01.00 approval date by the Commission: 90 days after approval Windowing process replaced with OFO system Interstate capacity unbundled for core customers effective April 2001: Ability to balance using 3rd party provider Open season for Socal storage Secondary market for storage (using Alltrade if want to) Trade OFO imbalances and imbalance rights (using Alltrade if want to ) effective Octover 2001: Open season for Socal intrastate capacity Secondary market for intrastate capacity (using Alltrade if want to) Pooling at new city gates

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OUT: Deal Struck in CA to Restructure Socalgas

IN: POSREP HOEGH GALLEON, DATE: 26-May 12:00 10:00 (UTC) A) Position at noon: N 36 46 E 000 24 B) Dist. From last noon: 411 nm C) Dist. To go to next port: 283 nm D) ETA next port: ALGECIRAS 27 06:00 LT E) 1: Average sea/wind Sea: SW 3 Wind: SW 2 2: Average speed 17.13 kn RPM: 86.67 3: BOG 137 m3 5: F.O Consumed 33 m3 6: G.O. Consumed 0 m3 7: Average vapor press Average liq. Temp: Tk1: 0.124 bar -158.13 ?C

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OUT: POSREP 26 MAY

IN: Jason, Peoples will continue to sell back 50,000 for the last two days of May @ Gas Daily minus $.01. I'm sending you this E-mail to confirm our intentions. Jer

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OUT: Sell Back for gas day May 30th

IN: Theresa - here's the latest by month of the imbalance. Please let me know if there is any way that I can help you. Could I look at current month, while you look at the past stuff? Please let me know. Thanks, Gloria

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OUT:
Crestone Imbalance