Here is an email: Attached is a copy of the CA I will be sending to Cobb on Monday. I will ask Cobb to execute and forward to Denver for Brian's sig. You probably should give them a call and explain this CA before they receive it. Let me know if you have any questions.
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A: Cobb CA
Q: When: Tuesday, November 20, 2001 10:00 AM-10:30 AM (GMT-06:00) Central Time (US & Canada). Where: TBD *~*~*~*~*~*~*~*~*~* I have sent the SOW in a previous email. I am asking that we meet to go over the document and get physical signatures. Thank you,
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A: Sign off on the Consolidated Gas System project
IN: Sean: I have been looking at the -$141K P&L hit in "Other Changes" on 8/13/01 you were inquiring about. The biggest "contributor" of this hit is the restructured Modesto deal # 520328.3, which alone caused -$130K in Other Changes (a.k.a. 2nd Order in financial terms). I believe what happened is that Matt re-marked the daily volatility curves down by a significant magnitude on 8/13/01 (* please see curve managers for the change). Usually when volatilities changed drastically they would disrupt financial evaluation models and more likely to cause a change in deal value by factors which cannot be explained (i.e. Second Order). This doesn't necessarily mean that the evaluation is incorrect but just that there will be some value change for which the models cannot pinpoint the reasons. Anyway, for this basis option deal you lost $94K on 8/13, and this -$94K can be broken down into Curve Shift (-$19K), Gamma ($1.5K), Vega (70K), Theta (-16K), and Second Order/Other Changes (-$130K). I looked at the curve change and interest rate change between 8/10 and 8/13 and they are relatively insignificant, but the drastic volatility mark down makes me feel that your losing money in this deal is somewhat consistent w/ what we should expect. I am still working with IT to see if we can nail this down to give you a more specific explanation. In the mean time, if you have any thoughts or concerns, please feel free to let me know. Thanks,

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OUT: -$141,000 P&L hit on 8/13/01
IN: This is an email
Ray, We are working on revising the DASH template in order that it can be readily used for asset divestitures, contract terminations, and amendments to transactions. The new DASH, the template of which should be completed early next week, would be prepared earlier in the process that was typically the case in the past, would contain a RAC recommendation, and would then be used as the approval document for the appropriate committee (Transaction Review or Bankruptcy Management) to recommend or approve a transaction. This is consistent with past practice (although presumably only business unit, RAC, and legal sign-offs would occur prior to committee review) and with your memo of earlier today. Your thoughts as to how the approval process should occur after a DASH is prepared would be appreciated. Regards,

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OUT: Revised DASH
QUESTION: As a follow-up to our discussion when I was in Houston, attached is a memo that addresses how negotiated rate contracts will be treated in Transwestern's next rate case. I had drafted the memo in response to numerous questions from BP regarding their Red Rock contract rate. Pls. let me know if you have further questions. Thanks, Maria
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ANS: Red Rock Contracts Impact on Next Rate Case
IN: As usual, the lawyers are the last to know. Stuart is working on a transaction to sell the asset (Gleason), and therefore this ageement needs to be documented asap, which means in the next few days. Please review the attached and give me a call. Thanks,

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OUT:
SWPC Agreement for Gleason