As individuals involved in the day-to-day oversight and management of PPEP's Cleburne facility, it's important that you are familiar with and follow the covenants set out under the purchase agreement signed with Mesquite Investors, LLC (an El Paso affiliate) on September 7.  Those covenants are contained in Section 5.4 of the purchase agreement, which is attached for your reference.

The covenants are fairly self-explanatory.  However, if you have any questions concerning their interpretation or implementation, please contact Joe Henry at (713) 345-1549 or me at (713) 853-6027.

Thanks,

RH