Kim,
 We currently have a Master with Eastern New Mexico Natural Gas Association, 
Inc. (Contract No. 96009607) therefor, the Confirm Desk can do the confirm 
once it is put in the system.  
 
Ellen,
 Do you agree?



	Kim Ward
	04/03/2001 09:40 AM
		
		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc: 
		 Subject: Re: Eastern New Mexico Gas Company

Dan, 

Thanks for looking at this for me.  I did remove the phrase you mention in 
number 1 below.  As for a volume cap, I don't think that one is necessary in 
this case.  Their TW contract limits them to 1000 MMBtu/day.  Any prices that 
are fixed will not include TW transport charges.

Thanks again,

Kim

ps, once their board approves this term sheet, we will need to do a 
confirmation.  Will this be generated by you or when the deal is entered into 
the system?



Dan J Hyvl
04/02/2001 08:55 AM
To: Kim Ward/HOU/ECT@ECT
cc:  
Subject: Re: Eastern New Mexico Gas Company  

Kim,
 I have reviewed your term sheet and have the following questions.  
1.  Under Term, you have included the phrase "with annual redetermination" 
however I find no redetermination language in the Price  section.  I would 
suggest that the phrase be deleted.
2.  Under Quantity, you indicate there expected volumes, however, we need to 
put some cap on the maximum, With a 5 year term, we should offer some maximum 
such as 200% of the expected volumes.  Any thoughts relating to a cap?
3.  Under Price you indicate that the price could be changed to a Fixed 
Price, I assume that you do not intend to include the Transwestern 
transportation charges as a part of the Fixed Price.  Is this correct?  and 
if so, does the Fixed Price language need to be qualified?  
 Otherwise, the term sheet appears okay.  
      Dan



	Kim Ward
	03/29/2001 03:52 PM
		 
		 To: Dan Hyvl
		 cc: 
		 Subject: Eastern New Mexico Gas Company

Dan,

Attached is a term sheet that has been sent to Eastern New Mexico gas company 
to extend a four year deal that ends on April 30, 2001.  Could you look into 
the confirmation for this transaction?  They will be going to the board for 
approval at the end of next week so you have some time.  Sorry to bombard 
you!!  This one should be easy.

Thanks,

Kim