Art,

We can price this up for you but I have a couple of questions -

1)  Is this physical or financial
2)  Is is a daily call or monthly call
3)  Would you like this priced at the money or $.50, $1.00 or more out of the money?  I other words, what do you want your cap to be?

Thanks,

Kim

ps  What is the schedule for the baloon fest the 10th - 12th?  I'm trying to work around some meetings etc.

 -----Original Message-----
From: 	"Avalos, Art" <AAVALOS@pnm.com>@ENRON [mailto:IMCEANOTES-+22Avalos+2C+20Art+22+20+3CAAVALOS+40pnm+2Ecom+3E+40ENRON@ENRON.com] 
Sent:	Tuesday, October 02, 2001 12:09 PM
To:	Ward, Kim S (Houston)
Subject:	3rd Quarter of 2002 & year 2002


Kim, just for planning purposes, what would it cost to have a call option 
for year 2002 and for 3rd quarter of 2002 for 5,000 mmBtu's per day 
from the San Juan basin? 
Thanks 
Art Avalos