Spreadsheet: sally_beck__33935__memo for distribution2
Sheet: Memo

To: | [NAME]
 | [NAME]
 | [NAME]
To: | [NAME] |  |  |  | [NAME]
 | [NAME] |  |  |  | [NAME]
 | [NAME] |  |  |  | [NAME]
 | [NAME] |  |  |  | [NAME]
 | [NAME] |  |  |  | [NAME]
 | [NAME]
 | [NAME] (*)
 | [NAME] (*)
From: | [NAME] and [NAME] |  |  |  |  |  |  |  |  | Department: |  |  |  |  |  |  |  |  |  |  |  |  |  | Department: | Risk Management
Subject: | Change in Discounting Methods -Impact Analysis |  |  |  |  |  |  |  |  | Date: |  |  |  |  |  |  |  |  |  |  |  |  |  | Date: | 2000-12-27 00:00:00
Below is a summary of the Discounting Analysis as of  December 27, 2000
 |  |  |  |  |  | IMPACT OF CHANGE IN DISCOUNTING METHODS |  |  |  |  |  | Cumulative Change Detail |  |  |  | CUMULATIVE CHANGE ANALYSIS
 |  |  |  |  |  | As   of |  |  |  | Cumulative |  | Hedge |  | Rho/ |  | Period (To / From)
 |  |  |  |  |  | 2000-12-27 00:00:00 |  | 2000-11-28 00:00:00 |  | Change Total |  | Management |  | Drift |  | 12/27 - 11/28 |  | 00:00:00 |  | 00:00:00 |  | 00:00:00 |  | 00:00:00 |  |  |  |  | Check
 |  |  |  | GAS |  | -6838272.460300028 |  | -11721976.01817403 |  | 4883703.557874002 |  | #REF! |  | #REF! |  | 4883703.557874002 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 4883703.557874005 | 0
 |  |  |  |  | [NAME] (in US$) | -7355893.598400028 |  | -12097914.99357403 |  | 4742021.395174007 |  | #REF! |  | #REF! |  | 4742021.395174007 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 4742021.395174004 | 0
 |  |  |  |  | [NAME] CD (in US$) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0
 |  |  |  |  | Short Term | 517621.1381000001 |  | 375938.9754000049 |  | 141682.1626999952 |  | #REF! |  | #REF! |  | 141682.1626999952 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 141682.1626999952 | 0
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
 |  |  |  |  | [NAME] (CD$) | 0 |  | -582674.5423000194 |  | 582674.5423000194 |  | #REF! |  | #REF! |  | 582674.5423000194 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 582674.5423000194 | 0
 |  |  |  |  | Long Term (CD$) is converted at 0.6563 and included in Long Term (in US$) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6562838042735388 |  | 0
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
 |  |  |  | POWER |  | 0 |  | 0 |  | 0 |  | #REF! |  | #REF! |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 0 | 0
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
 |  |  |  | EMERGING BUSINESSES |  | -412293.9768999873 |  | -156272.4647000135 |  | -256021.5121999737 |  | #REF! |  | #REF! |  | -256021.5121999737 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -256021.5121999737 | 0
 |  |  |  |  | Lumber | 0 |  | 0 |  | 0 |  | #REF! |  | #REF! |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 0 | 0
 |  |  |  |  | Coal | -338028.805699994 |  | -82291.83510000084 |  | -255736.9705999932 |  | 0 |  | 0 |  | -255736.9705999932 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -255736.9705999932 | 0
 |  |  |  |  | Paper | -74265.17119999323 |  | -73980.62960001267 |  | -284.5415999805555 |  | 0 |  | 0 |  | -284.5415999805555 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -284.5415999805555 | 0
 |  |  |  |  | Weather | 0 |  | 0 |  | 0 |  | #REF! |  | #REF! |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0
 |  |  |  | LIQUIDS |  | -6681775.469300015 |  | -3540532.526399991 |  | -3141242.942900026 |  | #REF! |  | #REF! |  | -3141242.942900026 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -3141242.942900024 | 0
 |  |  |  |  | Crude Oil | -6851390.400400016 |  | -3973585.654199993 |  | -2877804.746200024 |  | #REF! |  | #REF! |  | -2877804.746200024 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -2877804.746200024 | 0
 |  |  |  |  | Refined Products | 635473.134000005 |  | 859131.1005000068 |  | -223657.9665000018 |  | #REF! |  | #REF! |  | -223657.9665000018 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -223657.9665000018 | 0
 |  |  |  |  | NGL | -534217.4745000042 |  | -499859.8571000033 |  | -34357.61740000098 |  | #REF! |  | #REF! |  | -34357.61740000098 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -34357.61740000086 | -1.164153218269348e-10
 |  |  |  |  | Petrochemicals | 67144.90610000047 |  | 73880.51990000013 |  | -6735.613799999664 |  | #REF! |  | #REF! |  | -6735.613799999664 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -6735.613799999657 | -7.275957614183426e-12
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0
 |  |  |  | PREPAYS |  | 25188629.04730007 |  | 26383099.78489995 |  | -1194470.737599886 |  | #REF! |  | #REF! |  | -1194470.737599886 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | -1194470.737599883 | -3.259629011154175e-09
 |  |  |  |  | Gas Prepay | 20371691.49210007 |  | 20923226.06470006 |  | -551534.5725999844 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -551534.572599981 | -3.37604433298111e-09
 |  |  |  |  | Liquids Prepay | 4816937.555199996 |  | 5459873.720199898 |  | -642936.1649999022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -642936.1649999022 | 0
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0
 |  |  |  | LONDON |  | -529288.7665000025 |  | -560835.3332000418 |  | 31546.56670003918 |  | #REF! |  | #REF! |  | 31546.56670003918 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 31546.56670003932 | -1.346052158623934e-10
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0
 |  |  |  |  | TOTAL CALCULATED BALANCES | 11842670.86590004 |  | 10182774.14892588 |  | 1659896.716974161 |  | #REF! |  | #REF! |  | 1659896.716974161 |  | 0 |  | 0 |  | 0 |  | 0 |  |  |  |  | 0 | 1659896.716974162 | 0
 |  |  |  |  |  |  |  |  |  | Positive change indicates a reduction in the Current Deficit
 |  |  |  |  |  |  |  |  |  | Negative change indicates an increase in the Current Deficit
 |  |  |  | LESS:  PREPAY RESERVE BALANCE |  | 25188629.04730007 |  | 26383099.78489995 |  | -1194470.737599883 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -1194470.737599883 | 0
 |  |  |  | ADD:  ORIGINATION GRANTED |  | 5575118 |  | 5575118 |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0
 |  |  |  | TOTAL RESERVE |  | -7770840.181400031 |  | -10625207.63597408 |  | 2854367.454574045 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2854367.454574045 | 0
 |  |  |  |  | Current Deficit (As of 12/27/00) | 1944896.716974161
 |  |  |  |  | Less -Current Book Adjustment | -12209129
DO NOT PRINT |  |  |  |  | Chase V Impact | -229.8781999999974
 |  |  |  |  | Current Month | 1944666.838774161