Spreadsheet: dan_hyvl__4876__ENTEXSWAPS2
Sheet: ENTEX SWAPS

[NAME] and Commmerical Deal Modifications
ENA Sells Fin Swaps | Transaction # |  |  |  |  |  |  |  | entexswaps2
[NAME] | 14 | 2000-05-19 00:00:00 | 10000 | July-00 | June-03 | 3 years | 3.355 | 0.769 | Contract says 11/00 - 6/30/03 because Extex will swap out until then-holding until Nov00
[NAME] | 15 | 2000-05-19 00:00:00 | 5000 | Nov-00 | Mar-01 | Winter | 3.5 | 0.769 | Contract signed by both parties 8/16/00.  Sent to HYVL
[NAME] | 15 | 2000-05-19 00:00:00 | 5000 | [NAME] | Mar-02 | Winter | 3.5 | 0.769 | Contract signed by both parties 8/16/00.  Sent to HYVL
[NAME] | 15 | 2000-05-19 00:00:00 | 5000 | Nov-02 | Mar-03 | Winter | 3.5 | 0.769 | Contract signed by both parties 8/16/00.  Sent to HYVL
[NAME] | 16 | 2000-05-19 00:00:00 | 5000 | Nov-02 | Mar-03 | Winter | 3.17 | 0.769 | Contract signed by both parties 8/16/00.  Sent to HYVL
[NAME] | 17 | 2000-05-24 00:00:00 | 5000 | June-00 | May-03 | 3 years | 3.605 | 0.769 | Contract says 11/00 - 6/30/03 because Extex will swap out until then-holding until Nov00
[NAME] | 18 | 2000-05-25 00:00:00 | 10000 | Nov-00 | Mar-01 | Winter | 4.2075 | 0.769 | Contract signed by both parties 8/16/00.  Sent to HYVL
[NAME] | 19 | 2000-05-30 00:00:00 | 20000 | July 00 | Oct 00 | Summer | 4.335 | 0.769 | Contract not returned to ENA yet
[NAME] |  | 2000-06-07 00:00:00 | 5000 | Jul 00 | June 01 | 1 year | 3.86 | 0.769
[NAME] |  | 2000-06-23 00:00:00 | 10000 | Aug 00 | Oct 00 | 3 Months | 4.41 | 0.769
[NAME] | 20 | 2000-06-27 00:00:00 | 10000 | Dec 00 | Jan 01 | 2 months | 4.59 | 0.769 | Contract not returned to ENA yet
[NAME] |  | 2000-06-30 00:00:00 | 10000 | Dec00 | Jan01 | 2 months | 4.465 | 0.769
[NAME] |  | 2000-06-30 00:00:00 | 10000 | Aug-00 | Oct-00 | 3 Months | 4.45 | 0.769
Relliant Entex |  | 2000-07-05 00:00:00 | 10000 | Aug-00 | Oct-00 | 3 months | 4.24 | 0.769
[NAME] |  | 2000-07-05 00:00:00 | 10000 | Dec-00 | [NAME] | 2 Months | 4.275 | 0.769
[NAME] |  | 2000-07-06 00:00:00 | 10000 | Aug-00 | [NAME] | 6 month | 4.175 | 0.769
[NAME] |  | 2000-07-18 00:00:00 | 10000 | Aug-00 | Mar-01 |  | 4.06 | 0.769
[NAME] |  | 2000-08-08 00:00:00 | 10000 | Sept-00 | Aug-01 | 1 year | 4.0775 | 0.769
[NAME] |  | 2000-08-22 00:00:00 | 10000 | Oct-00 | Nov-00 | 2 months | 4.845
[NAME] |  | 2000-09-07 00:00:00 | 5000 | Oct-00 | Sept-03 | 3 years | 3.9225
ENA Buys Fin. Swap
[NAME] | No Transction # (unwind) | 2000-05-25 00:00:00 | 5000 | June-00 | Oct-00 |  | 4.14 |  | ENA buys financial from Entex,this swaps the R&C back into HSC plus adder.  Profit of $4.14 - 3.605 =  $.535 x vol x days
[NAME] | No Transction # (unwind) | 2000-05-25 00:00:00 | 10000 | July-00 | Oct-00 |  | 4.14 |  | ENA buys financial from Entex,this swaps the R&C back into HSC plus adder.  Profit of $4.14 - 3.355 =  $.785 x vol x days
[NAME] | No transaction # (unwind) | 2000-06-22 00:00:00 | 20000 | July-00 | Oct-00 |  | 4.4925 |  | ENA buys finacial from [NAME].  This swaps the R&C back into HSC plus adder.  Profit of 4.4925 - 4.335 = $.1575 x vol.
[NAME] | No transaction # (unwind) | 2000-06-09 00:00:00 | 5000 | [NAME] | June-01 |  | 3.96 |  | ENA buys finacial from [NAME]. This swaps the R&C backinto HSC pus adder.  [NAME] of $3.963.3.86= $.10 profit x volume.
[NAME] | No transaction # (unwind) | 2000-06-27 00:00:00 | 10000 | Aug 00 | Oct 00 | 3 Months | 4.5625 |  | ENA buys finacial from [NAME].  This swaps theR&C back into HSC plus adder.  Profit of4.5625-4.41=.15 profit x 10K
[NAME] | No transaction # (unwind) | 2000-07-07 00:00:00 | 10000 | Aug00 | Jan01 | 6 months | 4.26 |  | ENA buys Fin from [NAME].  This swaps the $&C back into HSC plus adder.  Profit of  4.175 - 4.26=.085
[NAME] |  | 2000-08-02 00:00:00 | 10000 | Sep00 | Sep00 | 1 month | 4.2125
[NAME] |  | 2000-08-09 00:00:00 | 10000 | Sep00 | Oct00 | 2 mo | 4.49
Reliant-Entes |  | 2000-08-10 00:00:00 | 10000 | Dec00 | Jan01 | 2 mo | 4.415
[NAME] |  | 2000-08-16 00:00:00 | 10000 | Sept-00 | [NAME] | 5 months | 4.2675 |  | offset part of one year sale at 4.0775
[NAME] |  | 2000-08-21 00:00:00 | 10000 | Dec00 | [NAME] | 2 months | 4.69
[NAME] |  | 2000-08-21 00:00:00 | 10000 | Sept-00 | Oct-00 | 2 months | 4.7
[NAME] |  | 2000-08-22 00:00:00 | 10000 | Oct-00 | Nov-00 | 2months | 4.845
[NAME] |  | 2000-08-30 00:00:00 | 10000 | Dec00 | [NAME] | 2months | 4.69 |  | Offset $4.59
[NAME] |  | 2000-09-07 00:00:00 | 5000 | Oct-00 | Sept-09 | 1 year | 4.53
Profit Taking
Entex Gas ResourcesCorp. | 7 | 2000-05-25 00:00:00 | 10000 | June-00 | June-00 | 1 mo | IFHSC = +.23 |  | ENA buys physical KatyTG and ENA gives $80,250 prem. ( 5Kx30=150Kx 3.605= $80,250 /300K = .245
Entex Gas ResourcesCorp. | 3 | 2000-06-26 00:00:00 | 15000 | July-00 | July-00 | 1 mo | IFHSC = +.92***admend |  | ENA buys physical KatyTG and ENA gives $445,625 prem. (10K 3.355-4.14=249,550;5K 3.60-4.14=82,925;5K 3.86 -3.96=15,500; 20K 4.335-4.4925=97,650====$445,625
Entex Gas Resources |  | 2000-07-17 00:00:00 | 20000 | Aug-00 | Aug-00 | 1 mo | IFHSC +.8075 |  | ENA buys phsical [NAME] and ENA gives $513,050 prem. /620,000 = I + .8275 -.02 (loc dif)= IF + 80.75