Gerald:

Per our recent conversation, attached is the Term Sheet Proposal that I would 
like to present to certain producers in the Powder River Basin.  enovate, 
L.L.C. is looking at purchasing space on both the Bison Pipeline (should be 
in service 11/03) and Northern Border Pipeline.  After you review, please 
feel free to call me at (312)541-1232 with questions.  enovate, L.L.C. would 
like to pay producers a Chicago Net-back price for the gas in the Power River 
Basin.

Thanks for your help!!

Barbara Dillard