IN: This is an email
Russell: Here are the credit related comments that Pancanadian Energy Services Inc. made 1. They want the definition of Specified Indebtedness to exclude obligations with Affiliates. This is how it is defined in the Canadian Master. 2. They want a Minimum Transfer Amount for each of us of $100,000. 3. They want rounding to be reduced to $100,000 for each of us. 4. In the definition of Letter of Credit, they want the LC Bank to either be a major US or Canadian Bank, but not a foreign bank with a US branch office. 5. In the definition of Material Adverse Change, they want to delete the Current assets/Current Liabilities ratio trigger. Carol

What is the subject?

OUT: PanCanadian's Credit Comments

IN: This is an email
Barry, Attached are redlines of the docs with the changes we discussed today. Please pay special note to the Maximum Daily Deliverability Quantity of the Confirm. I want to discuss how this limits us and what flexibility this section needs. Please review and lets discuss.

What is the subject?

OUT: Revised Docs.

IN: This is an email
Please add Delma Salazar to all correspondence related to Operational Analysis on the Texas Desk. Delma will be replacing me on Texas effective immediately. I will be working with her all month to facilitate the transition. As always, if any questions arise, please feel free to contact me at any time. PL

What is the subject?

OUT:
Texas OA replacement