Dutch
It was great meeting you last Tuesday. I really enjoyed working on the NYMEX
Desk at TXU this summer and it was good to talk to you about trading and the
natural gas market. It looks like the bottom fell out of the market on
Wednesday after the AGA number. Our model was calling for an 82 so I think we
were closer than most but not close enough. Its a tough number to pin down as
their adjustment to the 3 testifies. Do you think there is a lot more downside
in this market or do we need to wait til after hurricane season for another
large sudden move downward?

Thanks for taking the time to speak with me and I look forward to speaking with
you again soon.
Regards
Dan


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Daniel Horvath
MBA, Class of 2002
University of Chicago GSB
1307 East 60th Street, Room 218
Chicago, IL 60637
Home (773) 834-6321