Spreadsheet: kenneth_lay__19460__WMR_101500
Sheet: Madison Energy Review

 |  |  |  | Madison Energy Advisors, Inc.
 | WEEKLY MARKET REVIEW
 | WEEK OF OCTOBER 9 - OCTOBER 15, 2000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Volume 2, Issue 40
 | Oil and Natural Gas Futures
 | Oil (WTI) |  |  |  |  |  |  |  |  |  | Gas ([NAME])
 |  | M | T | W | TH | F | Week Ago | Month Ago | Year Ago |  |  | M | T | W | TH | F | Week Ago | Month Ago | Year Ago
 |  | 2000-10-09 00:00:00 | 2000-10-10 00:00:00 | 2000-10-11 00:00:00 | 2000-10-12 00:00:00 | 2000-10-13 00:00:00 | 2000-10-06 00:00:00 | 2000-09-13 00:00:00 | 1999-10-13 00:00:00 |  |  | 2000-10-09 00:00:00 | 2000-10-10 00:00:00 | 2000-10-11 00:00:00 | 2000-10-12 00:00:00 | 2000-10-13 00:00:00 | 2000-10-06 00:00:00 | 2000-09-13 00:00:00 | 1999-10-13 00:00:00
 | Near Month | 31.86 | 33.18 | 33.25 | 36.06 | 34.99 | 30.86 | 33.82 | 20.14 |  | Near Month | 5.15 | 5.13 | 5.51 | 5.63 | 5.54 | 5.01 | 5.06 | 2.637
 | 12-month Strip | 30.72 | 31.58 | 31.76 | 33.29 | 31.83 | 30.01 | 30.66 | 21.578 |  | 12-month Strip | 4.71 | 4.7 | 4.98 | 5.1 | 5.04 | 4.61 | 4.67 | 2.77
 | Oct-01 | 29.22 | 29.79 | 29.92 | 30.58 | 29.14 | 28.65 | 28.3 | 19.08 |  | Oct-01 | 4.42 | 4.42 | 4.65 | 4.77 | 4.71 | 4.35 | 4.24 | 5.544
 | Oct-02 | 26.44 | 26.64 | 26.64 | 26.78 | 25.46 | 25.94 | 24.94 | 18.71 |  | Oct-02 | 4.01 | 4 | 4.16 | 4.24 | 4.22 | 3.96 | 3.59 | 2.533
 | Daily Spot | 31.88 | 33.18 | 33.25 | 36.08 | 34.98 | 30.88 | 33.83 | 23.08 |  | Daily Spot | 5.07 | 5.11 | 5.18 | 5.52 | 5.44 | 5.04 | 5.06 | 2.805
 |  |  |  |  |  |  |  |  |  |  |  |  |  | How to Do Business with Chevron
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | and Texaco
 | Weekly Recap:
 |  | Chevron Corporation agreed Sunday to buy Texaco, Inc. for $35.8 billion, continuing a consolidation of major oil companies.
 |  | If regulators approve, the merger will create the fourth largest publicly traded oil company in the world after ExxonMobil, Royal Dutch/
 |  | Shell Group of Companies and BP Amoco.  Chevron will exchange 0.77 shares of its stock for each share of Texaco.
 |  | Venezuelan oil workers went on strike over a contract dispute threatening oil exports to the United States.  Fedepetrol, the nation's
 |  | largest oil union, claimed that 85% of PDVSA's unionized workforce had joined the strike.  Venezuela exports about 2.6 million
 |  | barrels of oil per day and is one of the largest suppliers of crude oil and petroleum products to the United States.
 |  | Royal Dutch/Shell and Apache Corp. announced on Tuesday that they will buy Fletcher Challenge Ltd. of New Zealand for $1.9
 |  | billion and divide the company's properties.  The Shell Overseas Holdings unit will get operations in New Zealand and Brunei.
 |  | Apache said it will pay $600 million for [NAME]'s natural gas and oil holdings in western Canada and Argentina.  The acquisition
 |  | still has to be approved by New Zealand regulators.
 | Upcoming Events
 | Ziff Energy Group's North American Gas Strategies Conference - The Westin Hotel - Calgary, Alberta
 | October 16-17, 2000   Information: |  |  |  |  |  |  | www.ziffenergy.com/gasconference |  |  |  |  | Phone: 1 (888) 524-ZIFF (0433)
 | Ziff's Canadian Energy & E-Business Conference/Trade Show - The New Roundup Centre, [NAME], Calgary, Alberta
 | November 15-16, 2000   Information: |  |  |  |  |  |  | www.ziffenergyconferences.com |  |  |  |  | Phone: 1 (888) 524-ZIFF (0433)
 | [NAME] 21st Annual Energy Symposium - Westin Galleria Hotel, Houston, Texas
 | November 28-29, 2000 |  |  |  |  |  |  | www.energysymposium.com |  |  |  |  | Phone: (713) 237-5400
 | For more information, please call [NAME] at (281) 876-2244, e-mail |  |  |  |  |  |  |  |  |  | [EMAIL] |  |  |  | or visit our Website at
 | www.MadisonEnergy.com