Subject: 21-Jan-01 ECP/EPG Transaction Update
From: [email-masked]
To: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], michelle
Cc: [email-masked], [email-masked], [email-masked]
Date: Sun, 21 Jan 2001 12:50:00 -0800 (PST)

Unfortunately we have been unable to reach closure on the third party 
conditions, namely the ISRA and Bayonne consents, to our Transaction 
Agreement with El Paso.  We have therefore negotiated an extension of the 
deadline.  The terms of the extension include a non-refundable deposit to be 
paid to us by El Paso under certain circumstances and an extension to 
22-Feb.  Hopefully the extension will allow sufficient time for these two 
remaining conditions to be satisfied.  This extensio is expected to be 
finalized tomorrow.