Portfolio #1.

	Long 500 PJM western hub summers ( July/Aug )
	Long 300 PJM Sept
	Long 500 PJM Q4
	Long 250 PJM Cal 03

	Portfolio #2.

	Long 500 PJM western hub summers ( July/Aug )
	Long 300 PJM Sept
	Long 500 PJM Q4
	Long 250 PJM Cal 03
	Short 50,000 MMBtu's per day of Nymex Gas - July/ Aug )
	Short 30,000 MMBtu's per day of Nymex Gas - Sept
	Short 50,000 MMBtu's per day of Nymex Gas - Q4
	Short 25,000 MMBtu's per day of Nymex Gas - Cal 03

	Portfolio #3.

	Long 500 PJM western hub summers ( July/Aug )
	Long 300 PJM Sept
	Long 500 PJM Q4
	Long 250 PJM Cal 03
	Short 500 NY Zone A summers ( July/Aug )
	Short 300 NY Zone A Sept
	Short 500 NY Zone A Q4
	Short 250 NY Zone A Cal 03