Doug,

I had two very positive meetings this evening  with Tom Martin and Jim 
Schwieger.  They are looking for a Carthage Hub physical trader.  Tom is 
planning on talking I think to Lavorato to discuss the details.  

It's interesting because with the HPL sale now their physical guys are moving 
into an environment where they don't have an asset to trade around and have 
to be flat daily.  Gee, I wonder what that's like?  Given ERCOT liquidity and 
vol I had to chuckle on the inside (welcome to the real world).  

I really appreciate your support during all of this.  Some bosses could 
consider a situation like this a slight against them and bear out their 
resentment personally or to others to stymie that person's movement.  You 
have been nothing but a class act in that regard, and although I indeed would 
have liked a look at the ST-ERCOT book, I don't hold that against you.  In 
fact I don't even hold it against management.  It's no different than 
trading.  Just because someone smart is selling it doesn't mean it won't get 
bid up and run through them.  I am confident that wherever I end up I will be 
successful -- no different than any other time in my life.  I don't know 
another way.  The one time that I had some short-term hardship last year, you 
and I agree that I was sold too early, and that too will become 
self-evident.  

As I stated yesterday, the end of this week looks to be the time frame where 
I will make my a final decision.

Thanks for all of you runderstanding,

Larry