Attached is the dollar value calculation for the TW/NGPL obas for the period May 1, 2001 through October 16, 2001.  Utilizing the Permian Basin/Panhandle index prices, the dollar values are:

Winkler oba  -   $  71,352.31  due Transwestern
Gray oba      -   $298,286.08  due Transwestern

 






The volume balances for the obas as of 4/30/01 are:

Winkler oba - 19,800 mmbtus due Transwestern
Gray oba     - 37,185 mmbtus due Transwestern

These volumes represent the agreed to balances which had been previously reconciled and agreed upon.  These volumes can be 
resolved by either cash out, physical payback, or they can be valued and included with the above dollar values.  Please call me at 713-853-6709 to discuss these options.  

thanks
Richard Hanagriff