QUESTION: The system is certainly not set up to accommodate that now but we could probably draft around it on a case by case basis. It strikes me that while we might be able to come up with a legal framework that would allow for this, the credit considerations are more problematic. I would guess that the back office will also be unhappy about having to manually rearrange all of the trades. This really seems like it is similar to the Aquilla problem in some respects. When we suggested allowing one entity to trade for another, Credit was quite concerned because the system wouldn't be able to check the appropriate headroom. I suppose Credit could just assign the lowest headroom for any of the eligible entities to the entire relationship - would that be acceptable to everyone? Another possibility is for the fund to set up a master trading entity which does the trades with us and then does back to back deals with whichever entities need the allocations. That would let them do a large transaction on EOL and then smaller transactions with the other entities. Of course, the master trading entity would need to qualify for credit on its own somehow. Guarantees from anyone other than the owner would be difficult (upstream guarantee problems).
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ANS: One Password - multiple legal entities

QUESTION: Russell, In the future please put me on all notices about counterparty trading. I am responsible for the Legal Department's approval of online counterparties across all product areas and need to know any limitations that might affect a counterparties' ability to trade. Thanks!
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ANS: American Central Energy - NO TRADES

QUESTION: Rick, as a followup to our conversation about a month ago I just want to summarize where we are on the sale of EOGIL and the steps we are taking for corporate approvals as we move toward closing. We are currently anticipating project close on July 27th, but as with all things associated with India the date will probably slide some. Here'e what we are planning to do for Corp approval. 1) Steve Harper is working with Brad Larson to get a RAC document completed along the lines of the package we prepared for the China sale last month. This should be completed early next week and either your group or Steve will get it circulated for sign-offs. 2) We (Detmering/Sherrick) will review the project with Skilling/Lay prior to Rac sign-off. Based on our last discussion, we will not need board approval for this sale since it is less than $500 million. If this is not correct, let me know ASAP. Otherwise, we will do the above and plan to close on July 27th. Thanks
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ANS:
Sale of India E&P --EOGIL