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Randy, this is a short summary of the environmental findings that were identified during the records review conducted at the Corpus Christi Koch facility offices on May 1st and 2nd of this year. All environmental records which were available in the file data room at the Koch office were reviewed. Assumptions were made that the environmental records were complete for all assets included in the sale. Primary emphasis was placed on those environmental issues which are normally associated with a sale or purchase of assets dealing with distribution and transmission of crude oil. In particular, pipeline and tank farms were the most critical assets which were reviewed. Based upon the data review, the Koch assets were in compliance with the following: Air permitting, permit by rule, standard expemtions, recordkeeping and fee payments were documented NSPS recordkeeping and inspections for VOC control on large crude oil tanks were documented Oil Pollution Act-OPA 90 plans had been prepared and were up to date SARA compliance and reporting had been completed SPCC plans had been prepared for each site which qualified under 40 CFR 112 Spill reporting history and notifications to the state agency were available for review There are ongoing groundwater and soil remediation activities at one site included in the asset for sale (permits for the remediation activity is in place) Hazardous waste notifications, annual reportings and fee payments were documented Based upon the above review, there were no issues which could be identified which would be condsidered a major environmental limitation or would be a considered a major environmental liability. This statement is again based upon the assumption that all environmental information was present in the data room for the assets in question. It should also be stated that this analysis of Koch's environmental compliance is based upon the fact that Koch has not held back or provided false or misleading information or knowledge during their presentation or informaiton contained in the facility files. Pending further development and interest of this potential purchase, a recommendation is made to conduct a phase I due diligence and site visit to each location to verify findings from the records review. Also, due to the past history of Koch's operating practices, it is recommended that contract conditions be implicitly stated that EOTT will not be held liable for discoveries of past deficiencies or releases of contamination which have occurred on any of the Koch assets purchased.

What is the subject of this email?
Environmental findings, Koch South Texas Records Review