Sara,

I spoke with S. Bailey, and she directed my request to you.  What are the 
commodities that Vanguard Petroleum Corp. is able to trade under the Master 
Energy Price Swap Agreement executed in 1993?

Thanks,

Nidia

 -----Original Message-----
From:  Mendoza, Nidia  
Sent: Tuesday, April 10, 2001 3:03 PM
To: Bailey, Susan
Subject: Vanguard Petroleum Corporation Master Swap
Importance: High

Susan,

We currentley have a Master Energy Price Swap Agreement with Vanguard 
Petroleum Corporation.  It was done back in 1993; I read it, and I don't see 
that this master is for any particular product.  Currently Vanguard Petroleum 
Corporation trades liquids (NGLS) financial transactions.  They want to trade 
also natural gas and crude oil financial transactions on EOL.  Will you 
please let me know if they are able to do it under this master swap?

I appreciate your help,

Nidia
x3-4868