I just got off the phone with Byron Wright.  El Paso is definitely interested in acquiring Enron's residual rights in the ANNGTC.  He's trying to work out a structure that he can get approved at Somerhalder's level, eg <$10 MM.  He's thinking about a proposal that offers cash at various milestones, possibly an up front amount followed by additional payments when the ANS producers sign up and the partnership agreement is amended and restated.  He does not want to be left out of the auction and asked me to call back before agreeing a deal with anybody else.

Would you be willing to make an offer at say, $12 MM to get things going?