Kevin,

Please change the Descriptor from

US Gas Fin Spd   Nymex NL1 vs PEN      Sep01  USD/MM-L

to

US Gas Fin Spd   Nymex LD vs PEN      Sep01  USD/MM-L

all else looks fine.

Dutch


 -----Original Message-----
From: 	Meredith, Kevin  
Sent:	Wednesday, July 18, 2001 3:04 PM
To:	Arnold, John; Quigley, Dutch
Subject:	NL1 vs Pen spread

Please review the proposed description of the Nymex NL1 vs PEN spread in the attached document.  I will schedule a meeting with Mark Taylor (Legal) to discuss this new index as soon as I hear back from you.

Kevin
(713) 853-9555

 << File: Gas spd NL1 vs PEN.doc >>