Steph, further to our discussion, Pls review.  I took a quick look at the locations and most appear to be East based.  You might want to use an analyst to figure this out. Also, they have valued the inventories off of the Nymex only ( or so it appears) and I would have to believe that the value of these molecules is materially different than this. 

Pls review and let's discuss asap.

BT 

 -----Original Message-----
From: 	Bradford, William S.  
Sent:	Monday, September 24, 2001 9:45 AM
To:	Tycholiz, Barry
Cc:	Tribolet, Michael
Subject:	FW: Gas Inventories

Barry,

Let me know if you have any time to review.

Bill


 -----Original Message-----
From: 	Hermanson, Todd  
Sent:	Thursday, August 30, 2001 11:59 AM
To:	Bradford, William S.
Subject:	Gas Inventories

Bill -

I have attached a breakdown of our gas inventories by location.  The valuations have not been updated to take into account the downward move in gas prices.  

When we meet with you here in Purchase we would like to this to be one of the topics of discussion.  If you need any additional information (or more detail), please let me know asap.

Todd