Subject: Project Triple Lutz/Tarantula
From: [email-masked]
To: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Cc: [email-masked]
Date: Wed, 5 Jul 2000 05:33:00 -0700 (PDT)

Guys, as a follow up to our meeting today, I thought I would put together a 
list of deliverables agreed to in the meeting.  The goal would be to have a 
definitive strategy for HPL and storage assets by the end of July that could 
be acted upon.

 a) Elimination of the Entex contract - current value - John L.;
 b) Storage value algorithm incorporating spread values, increasing intra-day 
and monthly volatility and blowdown values - Jean M, John L, Jim S.;
 c) Storage acquisition targets and issues surrounding value/execution - top 
5 to 10 for blowdown and tarantula strategy - Jean M, Julie G.;
 d) Structure, value, cost and issues surrounding Bammel "header" - Jean M.;
 e) Project Torque - definitive balance sheet, income statement and 
contribution margin statement for HPL - Wes C.;
 f) Establish viability of selling HPL assets - small private placement - 
working with Lehman to finalize value, exection risk, timing, structure et al 
- Patrick   W.
 
 I would like this group to get back together in the fourth week of July to 
determine a final action plan.

Regards
Delainey