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We have received the executed Master Energy Price Swap Agreement with Belco Oil & Gas Corp. dated as of July 8, 1999. We have also received the executed Assignment and Assumption Agreement wherein the trades under the existing Belco Operating Corp. Master Energy Price Swap Agreement will be assigned to the Belco Oil & Gas Corp. master. No trading will continue under the Belco Operating Corp. master. The two active Belco masters will be the Belco Oil & Gas Corp. master and the Belco Energy Corp. master. Copies will be distributed.

What is the subject of this email?
Belco Oil & Gas Corp.