Message-ID: <16253069.1075842215929.JavaMail.evans@thyme>
Date: Thu, 24 Feb 2000 01:00:00 -0800 (PST)
From: michael.legler@enron.com
To: dan.hyvl@enron.com
Subject: True Oil purchase contract
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X-From: Michael J Legler
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Dan,

Attached is a redlined version of a purchase agreement for True Oil Company. 
Please review and let me know what's good and what's not.

NOTES:

True Oil will probably become an LLC sometime this year.  Does that change 
anything?

In Article 3.2 - True would like to know why that should be in there if we 
are not lending money to them and they do not owe us money.

Article 3.4 - I added this. They would like some language added that gives 
them the right to put compression in at their expense and the purchase price 
re-negotiated should this article come into play.

Article 5 Force Majeure - Why is force majeure here and in the definitions? 
Can one or the other be deleted??

Article 7.3 - True would like to know why there are set-offs here if we owe 
them.

Article 7.4 - Is this paragraph necessary? Supposedly, True has not seen this 
paragraph in any other contract.

Article 7.5 - filing of the Notice of Gas Contract - Where would this be 
filed and why?

General Provisions - Seller's Representative Matters - I assume that the 
first sentence, "authorized agent.....", takes care of the Committed Reserses 
that True does not have 100% ownership to. In other words, they cannot commit 
ownership that they do not have.

Exhibit F - I added this Exhibit. The very last sentence about pulsation. If 
ENA is purchasing the gas at the inlet of the screw compressor....we are 
supplying the compression, should this be deleted.


Call with any questions, comments, concerns or if you just want to say HI !!!


Take care,
Mike