Q: I received a call from Jack Foley from the PG&E Credit Risk area regarding concerns to their exposure from TW. He cited that due to the' CC' S & P rating they had concerns regarding their monthly prepayment to TW of approximately $ 1.8 M, our marketing of their excess capacity, and the Operating Agreement at the interconnect regarding indemnification of the PCB cleanup. He stated that PG&E has exposure as a result of TW marketing their excess capacity which at present TW has paid PG & E it's portion. However, we are due to remarket in January for their Spring/Summer capacity where we bill, collect and remit to PG &E. Also, he advised that per the Operating Agreement at the interconnect, dated June 27, 1995, there is an indemnification for PCB cleanup and that we pay PG & E $ 300,000 to $ 400,000 per year and the agreement runs to 2007. He added that there is a reaffirmation of the 1995 agreement dated May 28,1999, with Steve and Lou as the signers. In order to alleviate their concerns, Foley proposed, 1) TW drop the prepayment requirement and 2) provide security/collateral to secure the remarketing and PCB cleanup. Please review and advise your comments. Regards.
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A: Pacific Gas and Electric - Transwestern Concerns

Q: Pam Anderson from Intercontinental Exchange will be giving an ICE presentation on Tuesday, May 22 in EB 32C2 at 3:00 pm . Please let me know if you plan on attending. Thanks,
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A: ICE Presentation

Q: Attached is the letter that legal believes should be sent to Venoco. Please let me kow if you hav eny changes, otherwise please send this letter to Venoco by Friday. As we have discussed, you may want to call Venoco to let them know this letter is coming.
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A: Letter to Venoco

Q: Hi Katie, How are you doing? Did you survive all your projects and presentations? Haven't heard from you in a while and just wanted to see if you made it through. Hope everything is going OK. Gerald
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A:
Survive?