Confidential:  Atty-Client Work Product.

Here's an update on EPMI's response to the above-referenced data request.

EPMI did enter into a multi-week contract with CDWR and I have forwarded that 
contract to Ron Carroll.    EPMI may have done other trades separate from 
that contract. I am having those transactions researched.

I expect to take up our response to FERC on a Monday morning call with Ron 
Carroll, Bracewell & Patterson.  I will be asking him to prepare our 
response.  Sue Mara and Ray Alvarez are scheduled to be on that call.  If 
anyone else wants to participate in this response, please contact me.

Alan Comnes