Subject: Re: Invoice Question
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Mon, 7 Aug 2000 09:24:00 -0700 (PDT)

This deal (#227738) was booked in our system on Jan 17th.  According to my 
notes, this is an "unwind" for AK Steel.  It was done as a physical fixed 
price deal and it goes through September.  The volume is 5,000 per month for 
April through August and 20,000 per month for September.

CES sold the physical gas back to ENA.  The only gas CES has are the Exhibit 
1 volumes.  So I created a sell (#226553) to CES for the same volume at a  
price of IF CGAS + $.0075.

The deal numbers for March are 157559 and 205228.

[email-masked] on 08/03/2000 06:57:54 AM
To: " - [email-masked]" <[email-masked]>
cc: " - *Simien, Ernie" <[email-masked]>, " - *Destephanis, 
Kara" <[email-masked]>, " - *Contos, Richard" 
<[email-masked]>, " - [email-masked]" 
<[email-masked]> 
Subject: Invoice Question

Chris--There is a recurring set of monthly transactions on ENA's invoices that
I don't recognize.  Perhaps you can help me understand what they are.   In 
each
case, CES is invoiced for purchasing approximately 4,000 to 5,000 Dth/month at
TCO pool at an IF TCO Appl index price.   The Sitara # for this transaction is
SA-226553.  Then, this same monthly volume is re-purchased by ENA at a fixed
price.  The Sitara # for the "buy-back" is SA-227738.

Do these transactions have something to do with the physical gas that we have
purchased from ENA for our retail customer retention activities?

Thanks.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317