Antelope is a project that we acquired last year from AES.  The project has land, some early permits, and a transmission queue position that we used at Pastoria.  Total consideration paid to AES was approximately $15MM, most of which was charged to Pastoria.  The resulting cost basis should be about $1.8MM plus the ERC's not used at Pastoria (approx. $6MM).  Over the next 4 months we will determine whether we want to pursue the project or, if not, write off the $1.8MM and sell/transfer the ERC's for a gain of $1.8MM+.

Coyote Springs was a project that we developed and sold in 2000.  It was a 280MW 7FA that we co-developed with Portland General and sold pre-construction to Avista for a $18MM promote.  There should not be any balance sheet exposure associated with it- we are done.




Louise Kitchen
04/16/2001 02:24 PM
To:	Christopher F Calger/PDX/ECT@ECT
cc:	 
Subject:	I'm cleaning up the balance sheet still and two new things next to your name

What are Antelope and Coyote Springs?

Thanks

Louise