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Tenn supply in Zone 4

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Fred with Equitable said he has 2 deals with CES. 1. Tennessee - Equitable is selling CES 2,500 day delivered to Zone 4 at NYMX + .35. Equitable has the trigger and this deal goes through March 2000. CES is currently receiving this gas at Beldon & Blake. 2. Tetco - CES gave Equitable 100,000 dth in April and Equitable is giving CES 100,000 dth in January 2000 delivered to Tetco M2. CES has(or will) pay Equitable $.65 for the exchange. We call this a synthetic storage deal. Do you know anything about these deals?