Subject: "Wisconsin".

Body: What is your time frame for this matter? I have looked over the agreement, and need to confer further w/ attorney. The legal dept. will be out of the office Thursday / Friday for our legal conference, so I could have something for you around Monday. Please let me know. Thanks!

Subject: "Terminated Counterparty Contracts".

Body: I attach an updated list (to Feb 5) of the terminated contracts to date. F= or informational purposes, I have added a column that sets out the settleme= nt dates for contracts we have settled, so there may be some additional cou= nterparties added to my previous list where there was no ECC agreed termina= tion date but we have settled and terminated (no one needs to do anything f= or these c/ps). Again, the first table sets forth the physical contracts t= hat have been terminated and the second sets out the financial contracts, a= nd all data reflects ECC's (not the counterparties') perception of the worl= d. I have vetted my list against Blakes' master list and believe this is a= ccurate in all respects. As I indicated in my previous e-mails to you ther= e were a few date discrepancies and I have previously provided you with the= corrected dates for El Paso, Marathon, AEC Marketing, Calpine (Encal), Wil= liams Energy and Baytex (all physical), all which are now correctly reflect= ed in the attachment. A few others that were not previously on the list in= clude Coast Energy (physical) which auto terminated on Dec 2 and PrimeWest = Energy (physical) which auto terminated on Dec 2. =20 Thanks

Subject: "Negotiated Rate".

Body: Glen, as we discussed, here is the negotiated rate TW deal which TK did today under Rate Schedule ITS-1. The term is ONE DAY, Nov. 15. Quantity: 30,000 Dth/day I know this is a bit unusual. We are just going to have to ask the FERC for a waiver of their "before gas flows" filing requirement. Given the price spreads and the shippers' willingness to pay more than max. rates for short-term deals, we might have more deals like this. We probably need to put our heads together to come up with a better procedure for when this happens. It would be so much better if we were able to send tariff sheets via e-mail to our D.C. office. Call if you have questions or need anything.

Subject: "HSBC Confidentiality".

Body:
Jay- HSBC has responded to legal with comments on the NDA. They are requesting that the term of the NDA be one year instead of our standard two years. We intend on discussing a private e-marketplace and possibly f/x posting. They would like to see the standard demo for the discussion around the private e-marketplace. What is your position on their NDA request considering what they will see in the demo?