IN: Front to backs are huge Is the delivered basis market holding value or is it getting crushed?. Heard about el paso oct feb roll, from where I'm at, thinking selling Oct and going long Feb phys is better than feb merc, rather stack length in winter front and bet on hording of existing storage given forecast At these levels I like owning winter physical against NYMEX short?Is the bias that the EFP's blow out further? Frank

Generate a subject line.

OUT: Trade idea

IN: OK, this is hot off the press. Tanya: our Performance Impairment language limited the collateral call to 1.1 times outstanding exposure. The collateral was defined only as Letters of Credit and the issuing bank was at least A- S&P rated. As to the Threshold, well, you can read the response. Please let me know how you would like to proceed. SS

Generate a subject line.

OUT: ISDA

IN: Gene and Susan, Here is the draft award agreement for the plan. Let me know if you have comments. I will be getting with Brian Bloom this week with our comments to the plan document. Michelle

Generate a subject line.

OUT: DRAFT Award Agreement

IN: You'll be staying at the beautiful Phoenix Inn in sunny Eugene this Wednesday evening. You can check in at anytime, but if you need to cancel, let me know before 4 p.m. on Wednesday. Your confirmation number is 251832, and the reservation is under Todd Perry (to assist in the check-in process).

Generate a subject line.

OUT:
Eugene Accomodations