Trailblazer	
Gathering information for HSR filing.  HSR process expected to take 15 days.  
Bankruptcy court approval will follow asset sale process.  Lawyers will propose a general process to the judge shortly.  Once approved, we will submit information associated with the bidding process to the court to follow process.  
Expected closing by end Jan/early Feb.

MOPS
Putting together checklist to ensure all of our obligations under the agreement are met on a timely basis.

EOTT Liquids	
Discussions commencing with Noble, Phillips and Vitol for proposals on the liquids business.  
GP sale is going forward in parallel.  
Vitol has submitted a proposal for a short-term deal.  
Noble proposal expected shortly for a longer-term deal.  
Phillips may propose to buy the MTBE facility, but discussions with them are moving more slowly than with the others.

Stephen Dowd
Enron Transportation Services
713-345-7219 (office)
713-858-8867 (mobile)