Message-ID: <24931063.1075863434842.JavaMail.evans@thyme> Date: Fri, 3 Aug 2001 05:58:30 -0700 (PDT) From: j.kaminski@enron.com To: a..roberts@enron.com Subject: FW: [enerfaxdaily] Storm on Track to Disrupt Gulf Production Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: Kaminski, Vince J X-To: Roberts, Mike A. X-cc: X-bcc: X-Folder: \VKAMINS (Non-Privileged)\Kaminski, Vince J\Sent Items X-Origin: Kaminski-V X-FileName: VKAMINS (Non-Privileged).pst Mike, This is what some people in the industry see. Vince -----Original Message----- From: =09enerfaxdaily@enerfax.com@ENRON [mailto:IMCEANOTES-enerfaxdaily+40e= nerfax+2Ecom+40ENRON@ENRON.com]=20 Sent:=09Friday, August 03, 2001 1:19 AM To:=09Kaminski, Vince J Subject:=09[enerfaxdaily] Storm on Track to Disrupt Gulf Production To unsubscribe send a blank mailto:leave-enerfaxdaily-801798P@relay.netatla= ntic.com Scroll completely down to view, Outlook users it will take a minut= e to appear. OUTLOOK users please wait a minute for today's power and gas= prices & news to appear, scrolldown to view, if necessary. If you can not = view, reply and ask for text version. -----Pure Text & Lotus Users subscrib= e to the pure text version by clicking http://www.modernmediaohio.com/subs= cribe/enerfax.htm=20 Enerfax Daily NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE Friday, August 3, 2001 No. 796 Visit our website at: http://www.enerfax.com/ =20 For Oil Prices & News write enerfaxgold-subscribe@egroups.com=20 or go to http://www.enerfaxgold.com/=20 PHYSICAL NATURAL GAS PRICES =20 Gulf/Eastern Region =20 | Agua Dulce | 3.09 | | ANR SE | 3.11 | | Carthage TG | 3.10 | | Chicago Citygate | 3.17 | | Columbia Gulf Onshore | 3.12 | | Dominion South Point | 3.28 | | Henry Hub | 3.15 | | Houston Ship Channel | 3.23 | | Katy Hub | 3.21 | | NGPL - Midcontinent | 3.04 | | NGPL STX | 3.09 | | NGPL TX/OK | 3.13 | | Niagara | 3.25 | | Sonat Tier 1 | 3.10 | | TCO IPP Pool | 3.30 | | Tetco ELa | 3.11 | | Tetco M-3 | 3.47 | | Tetco STX | 3.05 | | TGP Zone 0 | 3.04 | | TGP Zone 1 | 3.05 | | TGT Zone SL | 3.13 | | New York Citygate | 3.50 | | Transco Station 65 | 3.16 | | Transco Zone 6 (NY) | 3.50 | | Trunk ELa | 3.11 | | Western Region =20 | California Border | 3.87 | | El Paso Permian | 3.16 | | El Paso San Juan | 3.63 | | Waha Hub | 3.17 | | Canadian/Rockies Region=20 | Nova/Aeco (in C$/GJ) | 3.63 | | Dawn Hub/Union | 3.19 | | Northwest Stanfield | 2.70 | | Wyoming Pool | 2.55 | | Opal/Kern River | 2.56 | | PGT-Malin | 3.34 | | Sumas | 2.52 | ---------------------------------------------- NATURAL GAS FUTURES Henry Hub 12 Month Strip 3.5333 UP 0.0775 =20 18 Month Strip 3.6123 UP 0.0690 =20 | Month | High | Low | Close | Change | | SEP | 3.210 | 3.051 | 3.192 | +0.111 | | OCT | 3.250 | 3.115 | 3.232 | +0.107 | | NOV | 3.495 | 3.370 | 3.477 | +0.097 | | DEC | 3.720 | 3.617 | 3.722 | +0.087 | | JAN | 3.820 | 3.720 | 3.822 | +0.087 | | FEB | 3.760 | 3.650 | 3.757 | +0.082 | | MAR | 3.650 | 3.560 | 3.647 | +0.072 | | APR | 3.480 | 3.410 | 3.462 | +0.062 | | MAY | 3.470 | 3.427 | 3.465 | +0.058 | | JUN | 3.490 | 3.450 | 3.505 | +0.058 | | JUL | 3.570 | 3.490 | 3.547 | +0.055 | | AUG | 3.570 | 3.510 | 3.572 | +0.055 | ------------------------------------------------------------- NEW! e-Acumen introduces PowerView 2001 - Expert analysis of power market developments - Optional databases of new generation also available - All 11 Western states available now Click to find out more:http://www.e-acumen.com/knowledge_powerview.html=20 --------------------------------------------------------- POWER FUTURES =20 | Month | COB | Change | PV | Change | | SEP | 60.25 | +0.00 | 59.50 | +0.50 | | OCT | 52.00 | +0.00 | 51.00 | +2.00 | | NOV | 49.00 | +0.00 | 42.00 | +0.00 | | DEC | 68.00 | +0.00 | 44.00 | +0.00 | | JAN | 62.00 | -3.00 | 45.00 | +1.00 | | FEB | 53.00 | +1.00 | 43.00 | +1.00 | | MAR | 42.00 | -3.00 | 41.00 | +1.00 | | APR | 40.00 | +0.00 | 38.00 | +0.00 | | MAY | 40.00 | +0.00 | 40.00 | +2.00 | | JUN | 40.00 | +0.00 | 52.00 | -2.00 | | JUL | 67.00 | +1.00 | 70.00 | +2.00 | | AUG | 67.00 | +1.00 | 70.00 | +2.00 | | Month | Entergy | Change | Cinergy | Change | | SEP | 31.25 | +0.65 | 28.35 | -0.15 | | OCT | 29.70 | +0.20 | 28.00 | +0.25 | | NOV | 29.70 | +0.20 | 27.35 | -0.15 | | DEC | 29.70 | +0.20 | 29.45 | -0.05 | | JAN | 32.50 | +0.50 | 32.00 | +0.25 | | FEB | 32.50 | +0.50 | 32.00 | +0.25 | | MAR | 31.70 | +0.20 | 31.00 | +0.50 | | APR | 31.70 | +0.20 | 31.00 | +0.50 | | MAY | 34.50 | -0.25 | 33.75 | -0.25 | | JUN | 44.50 | -0.75 | 44.25 | -0.50 | | JUL | 58.25 | -1.25 | 58.50 | -1.50 | | AUG | 58.25 | -1.25 | 58.50 | -1.50 | -------------------------------------------------------------- GET REAL about energy risk management with KWI In today's fast moving energy markets you need to be able to manage risk in= real time. That means knowing before you hit a risk problem, not afterwards when it ma= y be too late to prevent big losses spreading right through your enterprise= . With kW3000(tm), our multi-commodity, integrated front to back office softw= are, you can monitor your Profit At Risk(tm), counterparty risk and mark-to= -market all in real time. Keep alert to risk. Do it in real time. Call KWI -Americas: +1-281-681-3301= / Europe: +44 (0) 20-7386-2700 / Asia Pacific: +61(0) 2-9976-6111http://www.kwi.com/ =20 -------------------------------------------------------------- POWER FUTURES =20 | Month | PJM | Change | | SEP | 31.30 | +0.20 | | OCT | 30.15 | +0.00 | | NOV | 28.70 | +0.00 | | DEC | 31.85 | +0.00 | | JAN | 35.70 | -0.30 | | FEB | 35.70 | -0.30 | | MAR | 32.80 | -0.30 | | APR | 32.80 | -0.30 | | MAY | 34.70 | -0.30 | | JUN | 44.70 | +0.20 | | JUL | 59.50 | -1.50 | | AUG | 59.50 | -1.50 | ------------------------------------------------------------- ENERGY. @ENERGY, FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATEShttp://www.fea.com/=20 main phone number: 1 510-548-6200 email address: info@fea.com=20 --------------------------------------------------- NATURAL GAS OPTIONS =20 | Closing | Days | Implied ATM | | Month | Price | Left | Volatility | | SEP | 3.192 | 27 | 70.18% | | OCT | 3.232 | 55 | 72.55% | | NOV | 3.477 | 86 | 67.23% | | DEC | 3.722 | 118 | 63.86% | ----------------------------------------------------- PHYSICAL POWER PRICES | | High | Low | Average | | | $/MWh | $/MWh | $/MWh | | Cinergy | 49.00 | 44.00 | 46.30 | | ECAR | 52.50 | 45.55 | 48.45 | | ERCOT | 80.00 | 65.00 | 70.45 | | Entergy | 46.00 | 44.00 | 44.55 | | TVA | 50.70 | 48.10 | 49.80 | | ComEd | 53.00 | 43.00 | 46.65 | | PJM West | 70.00 | 61.50 | 64.70 | | Main | 53.50 | 45.50 | 48.85 | | MAPP | 53.50 | 45.50 | 48.85 | | Palo Verde | 54.50 | 49.00 | 51.45 | | Mid C | 55.00 | 49.00 | 52.10 | | COB | 55.00 | 50.00 | 51.25 | | 4 Corners | 52.00 | 50.00 | 51.00 | | Mead | 50.00 | 47.00 | 48.50 | | NP 15 | 53.00 | 44.00 | 46.35 | | SP 15 | 51.00 | 44.50 | 45.95 | | APX-Cal | n/a | n/a | n/a | ------------------------------------------------- Fast. Flexible. Proven.=20 The AURORA electric market model helps you deal with the challenges and ris= ks of today's energy marketplace.=20 Exceptionally fast and easy to learn, AURORA reflects fundamental market dr= ivers and gives power marketers, resource developers and portfolio managers= a better way to manage against market uncertainty and price volatility. = =20 AURORA delivers -=20 *Price forecasts - hourly, daily, weekly, monthly, yearly=20 *On-peak, off-peak pricing=20 *Resource valuation and net power costs=20 *Portfolio analyses=20 *Capacity expansion analyses=20 *Effects of emissions=20 *And much more . . .=20 AURORA's comprehensive databases cover all electricity markets throughout t= he U.S. and Canada. The model also handles storage, congestion pricing, and= offers detailed reporting and data export capabilities. It can be used as = a stand-alone tool or be integrated with your other business tools.=20 Give AURORA a test drive today. Visit us at www.epis.com or call (503) 722-= 2023.=20 EPIS, Inc. Market Information Solutions for the Electric Power Marketplace http://www.= epis.com/ =20 -------------------------------------------------------- Today's Power Bulletins * Appeals Court Upholds Surface Transportation Board in Case Involving Coal= Movements to Indianapolis Power & Light's Stout Station * California Pitches $12.5 Billion Power Bond to Wary Investors * S&P Cuts AES Gener Ratings from 'BBB' to 'BBB-' * Brazil's Poor Northeast May Get Electricity Blackouts * California May Challenge FERC Power Refund Decision Soon, Before Conclusi= on of Case * American Corn Growers Association Survey Finds Overwhelming Support for W= ind Power Development Among Farmers * Calpine Begins Construction of 115 MW Peaking Facility in Polk County, Fl= orida * Electric Fuel Completes Electric Transit Bus Performance Testing * APX Launches Only Independent Scheduling Service and Physical Power Marke= t in ERCOT with 9 Major Customers * Western Electricity Prices Fall with Reduced Weekend Demand * Northeast Spot Power Prices Continue Higher with Heat and Outage * Mid-Continent Spot Power Prices Drop on Weather and Transmission Woes * Southeast Power Prices Mixed Amid Texas Heat and Humidity ------------------------------------------------------- Cypress Natural Gas, LLC "Citygate Gas Marketing Experts" for the mid-Atlantic Region Cypress Natural Gas, LLC specializes in the delivery to the VNG, BG&E, WGL,= CGV, PECO, Col. of Maryland Citygates. We market citygate supply to large = commercial and industrial accounts, as well as, wholesale marketing to mar= keters with limited regional experience. For more information, please call Richard W. Gechter, Jr. at (757) 496-2100 -------------------------------------------------------- Today's Gas Bulletins * Peoples Energy to Implement Voluntary Early Retirement Program * Fitch Cuts Peoples Energy Senior Unsecured Debt Ratings from 'AA-' to 'A+= '; Outlook Stable * Canada Provincial Premiers Agree on Energy * Offshore Workers Evacuated as Storm Hits Gulf of Mexico * Anadarko President Sees Natural Gas Prices Rising Above $4 per MMBtu If E= conomy Improves * NYMEX to Launch 2 Brent Options Contracts * Canada Opposed US Plans to Drill in Arctic National Wildlife Refuge * AFL-CIO Calls for Shareholder Vote on Amerada Hess's Acquisition of Trito= n -------------------------------------------------------- Natural Gas Futures Jump on News of Tropical Storm Barry=20 Natural gas futures for September delivery on the NYMEX gained 3.6% yes= terday, up $0.111 to $3.192 per MMBtu on hot weather across much of the nat= ion and the approach of a tropical storm in the Gulf of Mexico off the coas= t of Florida. The October contract rose $0.107 to $3.232 per MMBtu. Tropica= l Storm Barry is expected to strengthen today and move into the north-centr= al Gulf of Mexico. Some weather forecasts expect that the storm will turn i= nto a hurricane, and the growing likelihood that workers will soon have to = be taken off Gulf of Mexico natural gas platforms has put traders on alert.= But, despite the storm risk, there was only limited short-covering and vol= ume was fairly light. However, strength in crude and products as well as Tr= opical Storm Barry encouraged buying by both trade, commercial accounts and= the locals. Fundamentally, the market is still bearish, but that could cha= nge quickly if the storm does impact production. Sell stops were triggered = as prices moved through the $3.20 level late in the session, bringing the m= arket off its highs. On Wednesday, the market dropped over $0.20 following = the release of AGA report data showing an injection of 77 Bcf last week. Ho= t weather is forecast for much of the nation early next week, with the West= Coast returning to hot weather next week. Natural gas for next day deliver= y across the US and Canada was generally $0.10 to $0.15 per MMBtu lower yes= terday, except out West where spot price climbed. Natural gas for next day = delivery at the Henry hub lost $0.17 to $3.15 per MMBtu. Look for cash pric= es to jump higher today. ------------------------------------------------------- SUNGARD Solutions for Success in Energy Trading Epsilon and Panorama Energy Risk and complexity are inevitable components of every trading transaction = within today's volatile energy market. Having the right tools to manage an= d control those risks has become a determining success factor. SunGard pro= vides those tools with Epsilon and Panorama Energy - comprehensive solution= s designed to create measurable competitive advantages for energy trading o= rganizations and utility companies worldwide. To receive more information or a free demonstration, we invite you to conta= ct us at 713-266-7771 or visit our web site at http://risk.sungard.com/ENER= GY=20 -------------------------------------------------------- Storm on Track to Disrupt Gulf Production Tropical Storm Barry formed off Florida's Gulf coast on yesterday and c= ould become a hurricane today as it churns its way through the oil and natu= ral gas fields of the Gulf of Mexico this weekend. The storm is most likely= to make landfall on Sunday in Louisiana. Companies with offshore productio= n have already taken steps to protect workers by moving them onshore until = the storm passes but they added that they had not yet suspended any product= ion. The National Hurricane Center forecasters predicts that Barry would mo= ve slowly to the northwest, taking it through the main producing areas of t= he central Gulf with a 55% chance that it would attain hurricane strength a= s it heads toward New Orleans. Chevron has evacuated 700 workers from offsh= ore platforms as a precaution against the storm and will make further evacu= ations today. The Gulf of Mexico provides about one quarter of nation's pro= duction of both natural gas and crude oil; about 13 Bcf of natural gas per = day and 1.4 million barrels of oil.=20 -------------------------------------------------------- JUST COMPLETED - AVAILABLE NOW NORTHEAST U.S. AND EASTERN CANADA Ziff Energy Group's Multi-Client Study: Beyond the Midwest: Focusing on the Northeast Opportunities! Are you active in the US Northeast? How will this major natural gas market= evolve? A 125+ page fundamental assessment that focuses on the key issues and ident= ifies opportunities in this dynamic natural gas marketplace, specifically : ? Market/Demand Outlook: (emphasis on electrical generation and traditiona= l markets) ? Supply Alternatives: New Choices (including the Awakening of LNG) ? Pipelines: Capacity Needs ? Outlook for Basis Differentials. These assessments will answer your questions and provide our independent in= sight and commentary. To subscribe or for more information, please call toll free Ron Ford in Hou= ston at 1-888-736-5780 e-mail to: rford@ziffenergy or Bill Gwozd in Calgar= y at 1-800-853-6252=20 e-mail to: bgwozd@ziffenergy.com=20 Visit our website at http://www.ziffenergy.com/ to preview our marketing b= rochure. -------------------------------------------------------- House Bill Addresses Energy Bond Status The House of Representatives has passed a wide-ranging energy bill that= includes measures to permit tax-exempt bond financed public power utilitie= s more access to deregulated power markets. Public utilities which are loca= ted in competitive markets would no longer be bound by existing tax law str= ictly limiting private use of facilities financed with tax-exempt bonds. Ho= wever, they can continue to issue tax exempt financing for a limited amount= of generation to serve their own load, but not for service outside their l= ocal area. Private and public utilities say they are satisfied with the bil= l, nut private utilities are disappointed that the bill left out a provisio= n eliminating taxes on contributions in aid of construction. The bill inclu= des measures that allow public power systems to join RTOs in order to impro= ve the national transmission grid, without endangering outstanding bonds. T= he bill also makes an exception for prepaid natural gas contracts, which wo= uld apply only if at least 85% of the purchased volumes were for use by gov= ernmental utilities in the state where the bond issuer was located.=20 -------------------------------------------------------- PNW 2001: Current Realities, Future Expectations Pacific Northwest Gas Strategies Conference October 2,2001 Portland,Oregon (at the Hilton Portland) Hear Commissioner Wilson Condon, State of Alaska, describe how Alaska gas s= upply will energize the Pacific Northwest supply portfolio. And let Joe Mar= ushack, VP, ANS Gas Commercialization for Phillips Alaska, tell you about the plans to make these supplies a reality. Get additional gas supply updates from Art Eastly, President & CEO, Canadia= n Forest Oil Ltd. (NWT) and Lanny Outlaw, President & CEO, Western Gas Reso= urces (Rockies). Our keynote speaker on transportation will be Michael Stewart, Executive VP= ,Westcoast Gas Pipeline. Also discussing pipeline expansions will be: Peter= Lund, PG&E Transmission, NW; Kirk Morgan, Williams Gas Pipeline West; Dona= ld Zinko, Colorado Interstate Gas; and Randy Jespersen, BC Gas Utility Ltd. You'll also have an opportunity to hear the latest on Questar's new salt ca= vern storage facility - available to the PNW - from Questar's Gary Schmitt. Find out views on future demand growth in the PNW from keynote speaker Dick= Reiten, Chairman & CEO, NW Natural. Hear how the Bonneville Power Administ= ration plans to reconnect with its supply contracts from Acting Administrat= or & CEO, Steve Wright. Also hear what Paula Pyron, Executive Director, NW = Industrial Gas Users, has to say about her constituents' needs. For more information please visit: http://www.ziffenergyconferences.com call 1-800-853-6252, or email us at gasconference@ziffenergy.com=20 ---------------------------------------------------------- Natural Gas NYMEX Volume 01SEP 37,090 01OCT 7,538 01NOV 4,934 01DEC 3,257 02JAN 2,672 02FEB 1,499 02MAR 1,922=20 02APR 2,341 =20 02MAY 791 02JUN 140 02JLY 75 02AUG 126 02SEP 152 02OCT 24 02NOV 35 02DEC 205 03JAN 40 03FEB 58 03MAR 38 03APR 19 03MAY 12 03JUN 10 03JLY 10 03AUG 2,024 -------------------------------------------------------- knowledge =3D empowerment Princetonlive.com's web-based training delivers knowledge straight to your = desktop. Empower your employees! http://www.princetonlive.com=20 Professor Victor O. VerWrisk from "Understanding the Value-at-Risk Concept"= =20 RJ Dewing from "An Introduction to the Oil Industry" E-mail: info@princetonlive.com=20 USA(609)520-9099 x131 UK 44 1065 250521 -------------------------------------------------------- El Paso Chairman to Testify Again=20 El Paso Chairman, President and CEO William Wise will testify for a sec= ond time Monday in FERC's investigation into alleged manipulation of Califo= rnia's energy market. The California PUC claims that El Paso unfairly award= ed 1.2 Bcf per day of firm capacity to its affiliate, El Paso Merchant Ener= gy. Before the start of testimony, the FERC ALJ said that an April 2000 mem= orandum sent between Wise and another official relates the minute details = of everything that is happening in the company, showing that Mr. Wise was w= ell aware of everything. That seems to run contrary to Wise's testimony at = the previous May hearing, where testified he did not micromanage the affai= rs of El Paso's subsidiaries. The California PUC testified that El Paso awa= rded the capacity in question by skewing the rules of an open season, sayin= g it biased the open season in favor of the 'total package' bid. If a singl= e bid for all of the capacity exceeded $37.5 million, then individual bids = could only succeed if they exceeded the value of the total package bid to E= l Paso. Therefore, even if they submitted partial package bids at reasonab= ly high rates, their success was totally dependent upon the other partial p= ackage bids by other shippers. A total of 24 shippers submitted partial bid= s, and none of them were awarded any capacity, the PUC said. But El Paso di= sputed those claims, saying that it made the minimum economic criteria befo= re the open season, thus giving no one an advantage.=20 -------------------------------------------------------- YOU DESIGNED IT. WE BUILT IT. ZaiNet GasMaster II Today's most comprehensive gas trading, scheduling and accounting system. CAMINUS Your Competitive Edge in Energy Call us at (212)515-3700 or visit us at the website http://www.caminus.com/= =20 ------------------------------------------------------- Ladyfern Discovery May Yield Tcf of Natural Gas=20 Canadian Natural Resources is the latest to drill in what is being toute= d as one of the richest natural gas discoveries in Canada. The Ladyfern are= a, located in an isolated section of northeastern British Columbia, is esti= mated to contain up to 1 Tcf. Murphy Oil and Apache jointly drilled the fir= st discovery well in the region a year ago, which is about 60 miles northea= st of the oil hub, Fort St. John, BC. Acreage in the Ladyfern region has so= ld for 17 times the median paid for acreage in other parts of BC. It is lik= ely second in size to the 1.8 Tcf Caroline, Alberta field in terms of Canad= ian onshore discoveries. Production is estimated at 480 MMcf per day. Canad= ian Natural is now producing 55 MMcf per day from one well, which is restri= cted by pipeline capacity. It expects to be producing 200 MMcf per day by t= he end of the year. Alberta Energy's output is about 170 MMcf per day.=20 ----------------------------------------------------- Enerfax Job Center & News New Openings include: * Pipeline Compliance Specialist * Software Sales * Jr/Sr Derivative/Risk Analyst Visit http://www.enernetenergy/ for these and more new job listings.=20 -------------------------------------------------------- * Principal Sales Executive - Viking Gas Transmission, A Subsidiary of Xcel= Energy=20 This position is located in St. Paul, Minnesota and is responsible for the = development and implementation of all gas transportation sales activities, = customer contacts, customer service and increasing market share. Accountable for annually increasing transportation revenue and improving co= mpany profitability. Provide technical support to scheduling, operations an= d engineering staff. Undergraduate degree in Business or Engineering. Master's Degree in Busines= s preferred. Minimum of five (5) years experience in natural gas or wholesa= le electric industry with a minimum of two (2) years of experience dealing = directly with interstate natural gas pipelines and services. Experience as = a lead negotiator. Significant travel required. Please mail, fax or email, referring to posting EM-MN-0006 by August 6,2001 to: Xcel Energy Staffing, Floor 2 414 Nicollet Mall Minneapolis, MN Fax - 612-330-7935 Email - Patrick.C.Hocke@xcelenergy.com -------------------------------------------------------- Conflict of Interest Charged in California One California energy official has a stock portfolio full of big energy= firms, while holds a million dollars in Enron stock. Even the governor's c= hief spokesman has $12,000 invested in Calpine. Consumer groups and Republi= cans are claiming conflict of interest among top Democratic officials charg= ed with helping California out of its energy crisis. But the governor says = it is a politically inspired witch hunt aimed at smearing his administratio= n by implying something is illegal. Whatever, but it is still another pie i= n the face the governor whose political viability seems to be fading almost= as fast as his friend, Gary Condit. Charges of conflict of interest surfac= ed last month as the Secretary of State called for a probe of consultants n= egotiating long-term energy deals designed to protect California from price= swings on the spot market. The governor fired five consultants last weeken= d after belatedly asking them to file required economic disclosure statemen= ts. Journalists have been busy digging up financial details on a bunch of D= avis appointees that create the impression personal greed was driving Calif= ornia's official energy policy. In one case, the chairman of the California= Energy Commission owned as much as $510,000 in energy company stock at one= point last year, it was reported.=20 -------------------------------------------------------- Progas Storage Services, Inc Was recently organized to offer specialized natural gas storage services to= marketers and end users servicing the upper Midwest and Northeast market r= egions along the major transmission systems in Indiana, Illinois, Kentucky,= and Michigan. PGSMI has 10 bcf of potential working capacity which will of= fer service along TXG, ANR, Midwestern, and is currently evaluating for pur= chase another 21 bcf of potential working capacity which can be serviced by= these and other systems in the region. PGSMI also explores for natural gas= in the Gulf Coast region through a wholly owned subsidiary. Progas intends= to go public through a route of private industry offerings, and an IPO or = registration. For more information on services or the company mail to: gast= orage@aol.com or for AOL mail to gastorage@aol.com ; web site currently und= er construction at: http://www.progas.net/wip . The company's executive and administrative office is located in Abilene, Te= xas with storage operations in Owensboro, KY and exploration operations in = Corpus Christi, TX. Progas Storage Services, Inc =20 8610 S. Hwy 277 Abilene, TX 79606 Ph 915 698 3699 Fx 915 698 2859 -------------------------------------------------------- Pure Text or Lotus & AOL Readers-subscribe by going to:http://www.modernmed= iaohio.com/subscribe/enerfax.htm=20 HTML,Outlook Email, Readers-subscribe by writingmailto:join-EnerfaxDaily@re= lay.netatlantic.com=20 -------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 rose 14.82 points to 7756.19 The CRB Index decreased 0.21 points to 201.07 The US Dollar declined 0.25 points to 116.25 The Dow gained 41.17 points to 10551.18 The S&P 500 climbed 4.82 points to 1220.75 The Nasdaq was up 19.00 points to 2087.38 September NYMEX Crude Oil rose 0.94 to 27.71 Canadian-US Exchange gained .0054 to 1.5412 ------------------------------------------------------ Please welcome our advertisers by visiting these websites.http://www.kwi.co= m/ http://www.fea.com/ http://www.caminus.com/ http://princetonlive.com/ ht= tp://www.progas.net/wip http://www.fame-energy.com/ http://www.e-acumen.com= /knowledge_powerview.html http://risk.sungard.com/energy http://www.ziffene= rgyconferences.com/=20 Enerfax Daily is North America's gas and power information source. it is se= nt to you free of charge. Enerfax Daily may be copied and redistributed in = its entirety to all interested energy professionals.Please e-mail us at sub= scribe@enerfax.com .=20 with the e-mail addresses of other energy professionals that would like to = be added to Enerfax Daily's growing distribution list of thousands of energ= y professionals in the US and Canada, or to be removed. The information con= tained herein was obtained from sources which Enerfax Daily believes to be = reliable, but does not guarantee its accuracy. Your support of our advertis= ers is greatly appreciated and will keep Enerfax Daily free. Thank you. You= r comments are welcome. For information on advertising, please write to advertise@enerfax.com