What a piece of shit this whole BTU market is.   Your mid-offer spreads look very reasonable to me.

 -----Original Message-----
From: 	Herndon, Rogers  
Sent:	Thursday, November 15, 2001 10:26 AM
To:	Presto, Kevin M.
Subject:	EES - Mid-Offers

Orig is starting to throw a fit about our widening of mid-offers due to liquidity concerns.

FYI we widened them as follows

Bal year: $0.50
Cal '02 : $1.00
Cal '03: $1.50
Cal '04 :$2.00
Etc

May pull back in by $0.50 if it looks like liquidity is returning farther out the curve.

Need any crude?

RH