Great news!   Thanks.   Mark



	Peter Keohane
	03/20/2001 07:07 PM
		 
		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc: Rob Milnthorp/CAL/ECT@ECT
		 Subject: Re: Blue Range Resource Corporation

Mark, I thought you might be interested in the attached note Elizabeth kindly 
sent to me.  I can't emphasize enough the number of significant issues we 
were able to accomplish in Blue Range, which included not just the first 
decision in Canada regarding the categorization of physicals and financials 
as forward contracts (we call them eligible financial contracts) entitled to 
protection under insolvency (which Elizabeth has referred to as the safe 
harbor), but also included:  the first decision in Canada that a shareholders 
claim against management for neglect, although normally an unsecured claim is 
subordinated in insolvency; a decision confirming rights of set-off both 
before and after the insolvency; and at least quadrupling our anticipated 
recovery by making a bid to by Blue Range's assets out of the insolvent 
estate.  Regards, Peter
---------------------- Forwarded by Peter Keohane/CAL/ECT on 03/20/2001 03:54 
PM ---------------------------
From: Elizabeth Sager on 03/20/2001 03:09 PM CST
To: Peter Keohane/CAL/ECT@ECT
cc:  
Subject: Re: Blue Range Resource Corporation   

Peter

Just wanted to let you know that all the great work in Blue Range is paying 
off in the US - citing Blue Range, a Houston bankruptcy court correctly 
decided that a gas contract was a forward contract relative to the US safe 
harbor provisions.  If you want a copy of the opinion let me know.

Hope all is well.

Elizabeth  713 853 6349