Subject: RE: Status of Agreements
From: [email-masked]
To: [email-masked], [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], credit <[email-masked]>
Date: Tue, 13 Nov 2001 15:32:30 -0800 (PST)

Marie/Mary/Carol

As requested, I am providing the list of counterparties with whom we are working on netting arrangements and the status.  

Coastal States Trading-	Executed by both parties. (payment and close-out netting)
ConAgra-	            Executed by both parties. (Master Crude Oil P&S with CSA)
Conoco- 		Executed by both parties. (only payment netting)
Crown Central-		Executed by Enron. Crown has stated it has executed and has sent original by 			mail, but same has not yet arrived. (only payment netting requested in their draft)
Morgan Stanley- 	Executed by both parties. (only close-out netting)
Richardson-		Richardson has requested payment netting of invoices for NGL transactions, but 			will separately proceed with Master Netting Agreement.  I am not aware if this 			task has been assigned yet.
Sunoco-		Executed by both parties. (only payment netting)
Valero-			Executed by both parties. (only payment netting)
Williams-		Under progress to implement payment netting for crude trading.  Documents under			consideration by their legal department.  Jeff Hodge is comfortable with me			proceeding on this basis and he will proceed with Master Netting Agreement.

Please let me know if you have any comments or questions.

John

EB 3853
Office Tel. # (713) 523-0840
Fax # (713) 646-4842