The following are my updates on the Calgary open items.

#1 - Financial Confirmations - Calgary participated in a conference call with 
Houston legal on this issue on June 15th.  Sally Beck is setting up a meeting 
with Mark Taylor to discuss concerns.
#2 - Segregation of commercial/non-commercial support functions - COMPLETED.  
Risk has set up a separate Excel spreadsheet to verify to trader's.
#3 - Enpower global data is currently being populated for Calgary.  We have 
requested access to the Enpower test database, and will proceed with testing 
once we finish populating the global data (2 - 3 weeks).
#4 - Term transactions bridging to Sitara - need an update from Beth Perlman. 
#5 - Reporting unhedged currency risk - COMPLETED.  Our net currency position 
is now being sent to the Controls group in Houston each day as of June 26th.
#6 - Managing FX risk in various trading portfolios - progress continues - an 
offer to hire a currency trader will be sent out on June 27th.  This person 
will be responsible for the resolution of this  issue.
#7 - Provide info on gas exotic & power data ;  The power information is 
being provided to the controls group in the requested format.  Once we 
receive confirmation that the information is being pulled in correctly, we 
will proceed with populating the templates for the gas exotics.  This will be 
completed by June 30th.

I will be out of the office the rest of this week.  If you need clarification 
on any of these items, you can page me at 716-2808.