Jay,

Attached is a request and format for a payment netting agreement between Navajo Refining Company and Enron Reserve Acquisition Corp. for physical crude oil transactions.

Thanks,

Nidia
x3-4868
 -----Original Message-----
From: 	"Scott Surplus" <scott@hollycorp.com>@ENRON  
Sent:	Wednesday, November 14, 2001 2:59 PM
To:	Mendoza, Nidia
Subject:	FW: Net Settlement Agreement


Nidia, 
Attached is net settlement agreement I sent to Frank in March.  Please let me know if OK to get executed, or if you have any comments.  I understand we are exchanging 2200 BPD in November.  We can make effective date November 1.
Thanks. 
Scott 
 -----Original Message----- 
From:   Scott Surplus  
Sent:   Wednesday, October 31, 2001 9:36 AM 
To:     Frank G. Newman (frank.g.newman@enron.com) 
Subject:        FW: Net Settlement Agreement 
Frank, 
Back in March, I believe you requested that we get a net settlement agreement in place.  I sent you a draft copy.  To date, I have not received a reply.  We would appreciate you review and get back to me if OK to have executed.  I understand we are exchanging 1100 BPD.
Thanks for your assistance. 
Scott 
 -----Original Message----- 
From:   Scott Surplus  
Sent:   Thursday, March 29, 2001 3:03 PM 
To:     Frank G. Newman (E-mail) 
Subject:        Net Settlement Agreement 
Frank, 
Attached file is our standard settlement agreement.  Please let me know if you have any comments.  Thanks. 
Scott 
 <<Net Settlement Agreement Enron Reserve.doc>> 
Scott C. Surplus 
Holly Corporation 
214-871-3562 
scott@hollycorp.com 

 - Net Settlement Agreement Enron Reserve.doc