I have attached for your review a revised marked draft of the Participation 
Agreement, marked against the draft dated 12/20.

Thank you and happy holidays.



Catherine Tzdogan
Bracewell & Patterson, L.L.P.
711 Louisiana, Suite 3000
Houston, Texas 77002
Tel:  (713) 221-1211
Fax: (713) 221-2146
cozdogan@bracepatt.com


 - PARTICIP.WPD
 - PARTICIPATION AGREEMENT - BRAZOS.doc